Fashion portal Myntra is betting on gamification to lure more customers as the company launches its flagship event End of Reason Sale (EORS) which coincides with the end of season sales by brick-and-mortar stores. The seventh edition of EORS, which kickstarts from December 22 to 25 is expected to be 45% bigger than the previous edition with 2000 global and domestic brands across over one crore products.
Moreover, Myntra expects 60% of its revenues from the sale to trickle in from tier II, III towns as the Flipkart-owned company eyes operational profitability by the end of this financial year.
Company has also enabled their logistics services for 25% quicker deliveries with an aim for the products to reach customers before the New Year. The company which leverages the kirana store network to enable last-mile deliveries has expanded its network from 800 kirana stores to 3600 kirana stores.
Ananth Narayanan, chief executive of Myntra and Jabong said “We have also ensured through our technology that customers view products that are closer to their location which would make deliveries quicker.”
While Myntra is expecting to clock 25x in sales over a normal day on day one of the sale, its sister company Jabong which would also partake in the sale is expecting 15x sales versus a normal day.
Myntra, which hopes to hit annual revenue run rate of $2 billion by the end of 2017-18, is looking to make long-term growth investments, with a heavy focus on newer categories like personal care, home and jewellery and a deep foray into omni-channel in 2018, added Narayanan. Currently, contributing between 1-2% of the top-line, Myntra is looking to grow these categories to over 5% of its revenue share through FY19.