In the testing period, the Flipkart-owned entity will be offering a smaller selection of items to customers
Myntra plans to expand the four-hour delivery service to multiple cities by the end of the year
The development comes amid a boom in the country’s quick commerce sector, which is currently dominated by Zepto, Zomato-owned Blinkit and Swiggy Instamart
Amid the increasing popularity of quick commerce, fashion ecommerce giant Myntra
is reportedly testing a four-hour delivery service in four Indian cities, including Bengaluru and New Delhi.
In the testing period, the Flipkart-owned entity will be offering a smaller selection of items to customers, TechCrunch reported citing sources.
Myntra plans to expand the four-hour delivery service to multiple cities by the end of the year, the report added.
According to the report, an internal assessment by Myntra found a significant increase in consumers’ propensity to complete purchases when offered shorter delivery times.
The development follows the launch of Myntra’s ‘M-Express’ service in 2022, which aimed to deliver products within 24-48 hours in select cities.
Notably, Myntra claimed that its marketplace business became EBITDA positive in Q4 2023. However, the platform’s net loss rose by over 30% year-on-year to INR 782.4 crore in FY23, while its operating revenue grew 25% to INR 4,375.3 crore from INR 3,501.2 crore in FY22.
If successful, Myntra will be the latest entrant in the battle of quick commerce in the Indian ecommerce space. In March this year, the company received $54 Mn fund infusion from Flipkart.
Notably, in an effort to further expand its reach, Myntra is currently focusing on Tier II & III cities, which accounts for 40% of the international brand orders for the company.
Additionally, to improve user experience and attract GenZ customers, the company has also been launching new features and verticals like Myntra Minis and FWD.
The move to deliver products in four hours comes amid a boom in the country’s quick commerce sector, which is currently dominated by Zepto, Zomato-owned Blinkit and Swiggy Instamart.
The quick commerce platforms have been gradually expanding their catalogues and entering new categories like electronics, fashion, and more to take on ecommerce giants like Flipkart and Amazon. While the likes of Amazon and Flipkart see an uptick in their sales during the Indian festive season, the quick commerce platforms are likely to give a strong fight to the ecommerce platforms in this year’s festive season.
On the back of this expansion and a rapid growth in their top lines, the quick commerce platforms have also been bagging a lot of funding. Earlier this year, Zepto raised a funding of $1 Bn in a span of about three months. While Blinkit has emerged as the growth engine for Zomato, Swiggy is banking on its upcoming IPO to further expand its quick commerce vertical.
As a result, Flipkart also recently forayed into the quick commerce space. It has launched Flipkart Minutes in Bengaluru and Delhi so far.
Meanwhile, Flipkart’s competitor, Amazon, plans to launch its quick commerce services in India in the first quarter of next year.
