Introduction: Myntra.com is a one of the leading e-commerce platform for fashion and lifestyle products. It was founded in 2007 by three IIT/IIM graduates. Its headquarters is in Bengaluru, India. It raised an investment of $158.67million in 9 rounds from 8 investors. Its products profile includes more than 500 lifestyle brands such as Nike, Adidas, reebok, jealous 21, U.S. polo, etc. It provides ease and power to the consumer to purchase lifestyle products online. It offers authentic products, ease of payment, 30-day return policy and shipping to most of the cities in India. [1] In May 2014, Myntra was acquired by Flipkart, also one of the leading e-commerce in India. After the acquisition Flipkart decided to shut down the web and mobile …show more content…
[2] According to Myntra, 80% of its traffic and 60% of its sale come from its mobile application. Myntra’s 50% mobile traffic comes from Tier II and III cities. Mukesh Bansal, CMO and co-founder at Flipkart said “Mobile as medium has grown rapidly for all e-commerce players but more so for the fashion e-tailers. Shopping for fashion is largely impulse-driven and that’s why the vertical has done so well on the mobile. We are 100% focused on mobile and making all our investments on the platform going forward.” [3] Prasad Kompalli, Head of ecommerce platform Myntra said, “Mobile for us is more than just another channel. We believe our value proposition is best delivered and experienced through our mobile app. This medium allows us to redefine fashion shopping by offering deep personalised experiences in discovery, content consumption and transactions. In India, mobile is fast becoming the default device for accessing internet across geographies and demographies. This is why, in a short span, we are witnessing such a surge in business from mobile platform.” [4] According to Tarun Davda, director of Matrix Partners a large number of Indian e-commerce companies are seeing contribution of more than 50% from their mobile platforms and the mobile users are three times more engaged and likely to buy as compared to the desktop users. [3] After its launch of app-only platform, Myntra’s mobile application has
But however, as the development of technology, the business will be able to support different smartphone one day. The development of technology satisfy people’s desired and it can attract more consumers for the business. Nowadays, people prefer to replace cash and cards with the smartphone which is smarter and more
This report has analysed Myer’s position in the Department Store industry, and identified the target demographic which should be targeted based on information found in the IBISWorld report. The 34+years old segment has shown signs of increased social media use as well as internet use. Moreover, a stark increase in mobile phone usage across the board has given Myer a need to change their current social media strategies as well as their other digital marketing techniques. Myer’s social media has been found to be poorly integrated, and each separate app is working on its own rather than cohesively which leaves some of their apps obsolete, while others thrive. Moreover, the rise in visual media and mobile phone internet usage is not being
The market for mobile commerce in North America is maturing much later than in Western
The incredible pace of technological advancement is a challenge for all companies. In recent years, the greatest growth was seen in mobile devices, which challenges companies, like REI, to keep up with consumer demands. With mobile devices, customers want to interact with companies on their terms. Companies, like REI, can respond by offering personalized marketing directed at users of mobile devices. Mobile devices are also leading the charge for new payment methods, NFC enabled devices and mobile
Enhanced shopping applications for mobile devices continue to constitute a large focus of Macy’s organizational strategy. According to Business Wire (2014), enhanced navigation allows customers to easily and quickly move between features, reach desired product with fewer clicks, check-out more quickly, as well as the enhanced ability to manage gift registries (par. 8). At the same time, Macy’s should continue to provide adequate Internet access throughout its stores to allow customers use their mobile applications for shopping. Heller (2012) reports that Macy’s will offer free WiFi throughout its stores which would allow shoppers to easily view and post reviews in real time, which is something that has shown to spur others ' purchases (par. 5).
The latest trends in the competitive apparel industry are companies going digital. Reinvention of fashion runways and then use of social media in publicizing the latest fashion is a hot trend. Use of mobile devices such as smartphones and iPads for shopping for the convenience of customers is also a very hot trend. There are also virtual dressing rooms and interactive store windows that make shopping for apparel easier (Agathou, 2012.) Zara has also started to come up with innovations to stay in the competition. Zara International has launched its online store in Mainland, China (Inditex to launch, 2012). Zara has also expanded its stores internationally by entering South Africa this year (Kew, 2012). Zara International will definitely continue to do well with the business strategy. However it will still have to adapt to the changes in the global economy and plan their business strategies according to the customers and clientele. It will do well since it is expanding internationally and also adapting the latest technologies.
Some businesses like Amazon and EBay have felt the huge impact of m-commerce. Though for most retail companies, sales via mobile devices is still a small fraction of total sales. When looking at the world as a whole, the potential for m-commerce is astounding. A lot of retailers are seeing increased sales via mobile devices with a larger percentage of those sales coming from tablets and less from Smartphones. M-commerce currently accounts for over 11% of all e-commerce sales and theses figure are still rising.
Zara is a brand widely known across the globe for its unique fashionable cloths .It is a part of inditex which is known as one of the world’s largest distribution group in the world and the owner of the company is Spanish businessman named Amancio Ortega .This company was formed in 1963 as a fashion retailer for women clothes but the company became a success after the addition of a new brand named Zara in 1975 .Today Zara is amongst one of the largest international company producing the fashionable clothes. After the success of the inditex as a successful brand (ZARA) maker, inditex was able to expanded itself with more successful brands across the world in different countries at the end of the 1980.from 1976 to 1983 Zara turned out to be a successful retailing brand and introduced itself with nine new outlets to the biggest cities of the Spain with its first headquarter in Goa. Year 1984 turned out to be the witnesses of first logistics headquarter of Zara covering a large area of 10,000 square metres. New York
One Nordstrom salesperson increased the amount of merchandise he sold by 37 percent by sending text messages and e-mails of news and promotions to the cell phones of his customers. Mobile marketing can have influence inside the store too. Consumers increasingly re using a cell phone to text a friend or relative about a product while
Zara is an apparel company and the leader brand of the Spanish retail mogul, Inditex. zara was established in 1975 in Spain by Amancio Ortega who is currently the 3rd richest man in the world, the first store was opened as an outlet but by 1979 the establishment already had six stores at different locations in Spain and by 1985 the company branched out to Portugal new york city and Paris. Today Zara has over 1900 stores worldwide which are located in 22 different countries; these stores render employment to over 125,000 employees. Zara depends on information they gather from customer and organizational feedback from all their stores on a daily basis this information is then forwarded to the supply chain, which works in synergy with the stores to keep the level of storage in stores down to a minimum. Zara owns the production, supply chain and in-house production, which lead to greater speed in output (M.A.Cano)
Furthermore, Gucci found that mobile and tablet account for 58% of their traffic online, with revenue increasing at about two thirds the rate of traffic; in particular, consumers who are already familiar with the brand are beginning to purchase high priced ticket items, most notably handbags, through these channels (Digital Forum Recap, 2015). Hence Gucci launched “The Gucci Style” mobile application, which is a digital shopping magazine that offers editorial content, fashion stories, and interactive features to
Myntra.com is ranked among the leading e-commerce companies in India and is the largest online retailer of lifestyle and fashion products. The company was started by a group of IIT/IIM graduates in 2007 and is headquartered in Bangalore. Funded by top tier Venture Capital Funds, Myntra is among the best funded e-commerce companies in the country today.
Peg and Kris, LLC is a new online clothing company that got its start in June of 2016 (Peg and Kris, LLC, 2016). It all began when two former employees acquired Kayce Hughes, LLC, a seventeen-year-old company and lifestyle brand (Peg and Kris, LLC, 2016). Kayce Hughes, the brand, was centered around custom-designed clothing for women and children (Hughes, 2016). The brand focused on classic, vintage-inspired designs with unique details that were typically made from cotton. At its peak in 2014, Kayce Hughes, LLC owned and operated three retail stores in Chattanooga, Tennessee; Nashville, Tennessee; and Atlanta, Georgia. The company also conducted a substantial amount of business online and through national trunk shows. In addition, Kayce Hughes, LLC sold its children’s line at wholesale prices to specialty boutiques (Hughes, 2016).
Zara is a clothing company that was founded in 1975 and came from Spain. Its under Inditex group which owns other brands such as Massimo Dutti, Pull & Bear, Oysho, Uterques and many more companies. Zara grew very fast and currently in 2012 has 1,617 stores worldwide. With a large name in the fashion industry, besides that, Zara faces tough competition internationally including H&M, Benetton, and GAP. In order to keep up with the speed chic, Zara need to keep up also with the information system to run their business.