"The regulators, the Prime Minister and everybody else are looking at mobile. The payment innovations are also mobile-centric. Some 100 million smartphones are being sold every year in India, even as desktop/laptop sales are declining. It clearly makes more sense to think mobile," Bansal said at the annual Myntra brand conference.
Flipkart acquired the Myntra fashion brand last year. Myntra moved to an app-only strategy earlier this year, becoming the first web-based e-commerce site to make that move. Myntra CEO Ananth Narayanan said the app-only strategy had forced all its employees to think differently. He said the app had also increased customer loyalty - with the number of visits per month by users rising to an average of over 10 - since the app was able to showcase personalized offerings, provide a social experience, and allowed convenient payment options. Myntra has 7.6 million monthly active users. Most Indian e-commerce firms are seeing over 70% of their consumers using mobile phones for transactions. The country has also seen most of its new internet users experiencing the web for the first time on smartphones. Most estimates put the internet user-base at around 30 crore.