You can now get deliveries from Myntra in 4 hours
What's the story
Myntra, India's leading fashion e-commerce platform, is testing a four-hour delivery service in select Indian cities. This initiative marks a significant change from its standard two to three day delivery timeframe. The expedited delivery service is currently being piloted in Bengaluru and New Delhi, with plans to extend it to several other Indian cities by the end of this year.
Strategic shift
Myntra's move aligns with India's quick commerce trend
Myntra's strategic move toward faster delivery aligns with the emerging trend of quick commerce in India. This sector is witnessing a surge in companies offering ultra-fast delivery times, for products like groceries and office supplies. Some firms are even exploring item returns, indicating potential expansion into fashion - a category known for high return rates.
Delivery evolution
Express service and consumer behavior
Over the past two years, Myntra has been working to reduce its delivery times. The company's Express service has been delivering products within 24-48 hours in certain Indian cities. An internal assessment by Myntra revealed that buyers are more likely to complete purchases when offered shorter delivery times, further validating their shift toward quicker deliveries.
Market response
Myntra's service and market competition
During the trial phase of its quick commerce service, Myntra is offering a limited range of items to customers. Analyst Karan Taurani from Elara noted that quick commerce firms are venturing into categories like beauty, personal care, and apparel. This expansion is exerting pressure on established players like Myntra and Nykaa to adapt their strategies.
Market impact
Quick commerce start-ups and their impact on e-commerce
Quick commerce start-ups are gaining traction in India, with companies like BlinkIt, Zepto, and Instamart collectively operating at an annualized run rate of over $6 billion in gross merchandise value (GMV). This rise has led analysts and investors to speculate about its potential impact on India's overall e-commerce sector. JPMorgan analysts noted that quick commerce firms have been rapidly gaining share, from traditional trade retailers and other e-commerce players.