Myntra sees 7.5 crore new app users; beauty segment soars 3X

Myntra, one of the leading online shopping platforms in India, reported a surge in its user base, welcoming 7.5 crore new app users in 2023. Notably, the loyal customer base increased by a whopping 100% year-on-year growth over the past 18 months, signaling a huge expansion in its customer reach.

During this year's festive season, Myntra reached an all-time high, boasting a staggering six crore monthly active users, solidifying its status as a preferred destination for online shoppers across India.

Amid its diverse array of offerings, the Beauty segment emerged as a standout performer within the industry, marking an exceptional 3X growth in the market, according to insights shared by the e-commerce giant, acquired by Flipkart.

With a repository boasting over 1500 brands and an extensive inventory of more than 90,000 stock-keeping units (SKUs), the beauty segment witnessed an outstanding 4X growth over the past three years.

Moreover, Myntra reported a substantial 70% year-on-year growth in the Direct-to-Consumer (D2C) category during the last quarter, showcasing its diversified expansion and adaptability in catering to evolving consumer preferences.

The youth fashion segment on the platform experienced a notable surge, recording a striking 2.25 times year-on-year increase in demand, accompanied by an impressive 175% year-on-year growth in its customer base. The introduction of FWD, an app-in-app proposition tailored for youth, in May this year, further strengthened its commitment to cater to evolving consumer needs.

The platform attributed its success in part to technological advancements that have enhanced the shopping experience for consumers. Myntra Minis, a short-form video content feature modeled on the popular reels format, has garnered a remarkable one million daily views. Leveraging AI and other emerging technologies has further propelled Myntra's innovative edge, ensuring its continued advancement in the ever-evolving e-commerce landscape.

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