Walmart-owned fashion retailer Myntra said it has set a new record with the 11th edition of its flagship, End of Reason Sale (EOR), being the biggest ever with a 50 per cent rise in orders over the last year. The four-day fashion event witnessed 2.85 million customers placing 4.2 million orders for 9.6 million items.
Nearly 600,000 new customers participated in the four-day sale, with 68 per cent of them coming from tier-2 and tier-3 cities and towns. Products such as jackets, jeans, sweatshirts and t-shirts were some of the most popular products among shoppers.
“We have just concluded the most successful EORS in our history with a 50 per cent rise in orders over last year,” said Amar Nagaram, Head, Myntra Jabong. “We broke several records this edition, acquiring six lakh new customers, registering over 115 million sessions on the platform and 4.2 million orders, which is the highest ever for any EORS. Contribution from tier-2 and tier-3 cities continues to grow, with 57 per cent orders and 68 per cent of new customers coming from these regions,” he said.
Myntra processed 4000 orders per minute in the first hour of the sale reaching 13000 orders per minute at the peak with women’s western wear, ethnic wear and men’s jeans and streetwear being the highest selling categories. Among metros, Delhi NCR tops the list of contributors to the sale, while Jaipur tops the list of tier-2 and tier-3 cities. The ‘Myntra Insiders’ or members of Myntra’s loyalty program contributed to 57 per cent of EORS revenues and registered 640000 new members.
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According to experts, fashion is a $100-billion market in India, and online retail players have only a 6 per cent penetration.
Source: Business Standard