Myntra.com, the e-commerce platform for fashion and lifestyle products, is targeting sales revenue of Rs 1,000 crore in the current fiscal. Of this, 8-10 per cent of the business would be generated from the Kerala market.
Ashutosh Lawania, co-founder, Myntra, told reporters here that sales turnover last year was Rs 400 crore. Delhi has emerged as the leading city in online shopping, contributing 20 per cent of the sales revenue.
He pointed out that youth in Kochi are increasingly shopping online, making it the eighth prominent city in the country driving traffic on the Web site.
At present, Myntra.com ships over 500 products to Kerala daily and expects this number to grow significantly in the coming months. Assured quality and easy access to a range of products offered on the Web site is leading to increased sales of popular youth brands in the State, he added.
“Kochi is a prominent market for Myntra.com given that it is one of the biggest non-metros to contribute traffic on our Web site. A combination of increased spending power among youth and unavailability of many international brands makes online shopping preferred choice among many in Kerala,” he said.
A study carried out by the company found that online shoppers in Kerala are fairly young compared with the national average of 25 years. The study also shows that 85 per cent of online shoppers in the State are men and their average transaction value has grown by 35 per cent in the last six months.
The participation of women for online purchasing is comparatively less in the State and the company has plans to increase their participation by introducing various ethnic ranges of products and promotions in festival seasons, he added.