Page 10 - Images Retail January 2018

NEWSMAKERS NATIONAL

E-COMMERCE BUILDING

A STRONG PLATFORM

FOR GROWTH IN 2018

– By IMAGES Retail Bureau
2018 has started on a positive note, and
e-commerce companies across the country
are taking rigid steps towards building a strong
platform for long-term growth. Here’s a look at
some success stories in the e-tail sector…

E-COMMERCE MARKET MAY CROSS US $50 BILLION
MARK BY THE END OF 2018: STUDY

Th e digital shipping and payment e-businesses are the major e-commerce ecosystem are
commerce market options, exciting discounts, drivers of this unprecedented providing a secured online
in the country is and the push into new growth, it said. Banks platform to pay eff ortlessly via
expected to cross US $50 international markets by and other players in the payment gateways.
billion in value by the end of On the increase in
2018 from the current level preference of mobile
of US $38.5 billion, on the transactions, the study said
back of a growing Internet one out of three customers
population and increased currently makes transactions
online shoppers, says a recent through mobiles in Tier I
study. Th e digital commerce & II cities. As per the study,
market in India has grown there would be more than a
steadily from US $19.7 billion seven to ten fold increase in
in 2015 to US $13.6 billion revenue generated through
in 2014, as per a joint study e-commerce as compared
conducted by Assocham and to last year with all branded
Deloitte. apparel, accessories,
Th e increasing mobile jewellery, gifts and footwear
and Internet penetration, available at cheaper rates and
m-commerce sales, advanced delivered at the doorstep.

MYNTRA’S BIGGEST EORS: 65 PC NEW CUSTOMERS, 60 PC SALES FROM
TIER II & III CITIES

Myntra’s ‘End of Reason Sale’, held between December and Jabong, which clocked almost 22 percent of all sales on the
22-25 concluded with over 1.7 million people platform. Th e introduction of social shopping, through ‘Myntra
purchasing 5 million products over the four-day sale Shopping Groups’, enabled shoppers to avail additional
period. Myntra recorded the highest share of fi rst time buyers discounts that contributed 20 percent to the revenues of
of 5 lakh customers during the current edition of the sale, of EORS. Speaking on the success of EORS-7, Ananth Narayanan,
which over 65 percent came from Tier II and III cities and CEO, Myntra-Jabong, said, “With over 5 million items sold, 60
towns. Th e company processed about 365 orders per minute percent sales from Tier II & III cities, and 5 lakh new customers,
on average during the sale and has so this edition of Myntra’s End of Reason Sale has
far completed delivery of 35 percent of been the biggest ever.”
the total items ordered. “Th e Myntra App ranked No.1 app on IOS and
Sports dominated the sale as the as the top shopping app on Google Playstore
most popular category across Myntra during the sale,” he added.

10 | IMAGES RETAIL | JANUARY 2018