Myntra’s Desperate Attempt to Stay Relevant: 4-Hour Delivery Service in India
In a shocking move, Myntra, India’s largest fashion e-commerce platform, is scrambling to keep up with the competition by introducing a 4-hour delivery service in four Indian cities. This drastic acceleration from its standard 2-3 day delivery timeframe is a clear indication of the company’s desperation to stay relevant in the rapidly changing e-commerce landscape.
Sources close to the matter reveal that Myntra is piloting the fast-tracked delivery service in cities like Bengaluru and New Delhi, with plans to expand to numerous Indian cities by year-end. This move comes as no surprise, given the rise of quick commerce in India, where a group of firms are offering 10-15 minute delivery times for groceries and office supplies.
But what’s behind Myntra’s sudden push for faster delivery? An internal assessment has found that consumers are more likely to complete purchases when offered shorter delivery times. This is a clear indication that Myntra is trying to lure customers away from its competitors, who are offering similar services.
Myntra’s decision to enter the fast delivery race is also a response to Flipkart’s recent move into quick commerce. Flipkart, owned by Walmart, has been gaining ground in India’s e-commerce market, and Myntra is trying to keep up by offering a similar service.
But will this desperate attempt to stay relevant pay off? Only time will tell. In the meantime, Myntra’s competitors, such as Amazon, are sitting pretty, watching the drama unfold.
The Rise of Quick Commerce: A Threat to Traditional E-commerce
The rise of quick commerce in India is a game-changer, and traditional e-commerce firms like Myntra are feeling the heat. Quick commerce startups like BlinkIt, Tata-owned BigBasket’s BB Now, StepStone-backed Zepto, and Swiggy’s Instamart are collectively operating at an annualized run rate of over $6 billion in gross merchandise value (GMV), up from about $2.5 billion last year.
Analysts and investors are speculating that quick commerce could make a broader impact on the overall e-commerce sector in India, with e-commerce firms recording sales of approximately $50 billion last year. JPMorgan analysts have noted that quick commerce firms have "rapidly been gaining share from the three main incumbents: offline or general trade, modern trade retailers, and other e-commerce players."
Zepto, one of the quick commerce startups, is projecting a growth of 150% in the next 12 months. This is a clear indication that the rise of quick commerce is not just a fleeting trend, but a fundamental shift in the way consumers shop online.
The Future of E-commerce in India: A Battle for Supremacy
The battle for supremacy in India’s e-commerce market is heating up, and Myntra’s 4-hour delivery service is just the latest salvo in the war. With quick commerce startups gaining ground and traditional e-commerce firms scrambling to keep up, the future of e-commerce in India is looking more uncertain than ever.
Will Myntra’s desperate attempt to stay relevant pay off, or will it be left in the dust by its competitors? Only time will tell. One thing is certain, however: the rise of quick commerce is a game-changer, and traditional e-commerce firms will need to adapt quickly to stay ahead of the curve.
