Myntra aims new users from upcoming sale
Myntra, the fashion e-commerce giant, this week said that it anticipates witnessing a 25 x time jump in everyday sales at the time of its “End of Reason” sale to be conducted from June 24, 2017 to June 26, 2017.
This sale by Myntra comes at a time when mortar and brick retail stores are providing serious discounts to users to clear their stocks, prior to the Goods and Service Tax introduction from July 1, 2017.
“Our ‘End of Reason’ Sale gets better and bigger with every passing period. The 6th version will be the biggest yet and will view Jabong as a participant as well,” CEO of Jabong and Myntra, Ananth Narayanan told the media.
He further added that more than 1,800 companies will contribute to the 3-day sale, giving discounts of 50–80%.
“We suppose about 45% development over past year and 25 x times jump in income from what we do on a normal day. We anticipate about 5 Lakh individuals to be a fraction of this Myntra Shopping Groups,” he claimed.
Myntra Shopping Groups will permit users to make sets (comprising families and friends) on the website and shop jointly. Group associates will be qualified for various discounts and rewards depending on the mass of their shopping bags.
“EORS is also a great mean to get new users on board. We suppose to attain 4 Lakh new users through the 3-day sale this time,” Narayanan claimed to add that rewards being provided in retail stores will not influence its own trade.
Apparel producers are putting efforts to clear up old stock in advance of the new Goods and Service Tax rule. The Goods and Service Tax Council has made a decision to charge man-made apparel at 5% up to Rs 1,000, while those having a price tag of more than Rs 1,000, will draw 12%.
Currently, the entire tax occurrence is around 8% relying on the states.
Looking at the efforts put by Myntra, it is sure that it will surely make more than 4 Lakhs new users this time while clearing up the old stocks to avoid the new Goods and Service Tax rule.