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Business

Time: 2024-12-10

Myntra's M-Now Market Insights: Rapid Growth in Quick Commerce Sector

Myntra's M-Now Market Insights: Rapid Growth in Quick Commerce Sector
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Myntra, India's large manner vitamin_E-commerce firm, has recently establish M-Now, a quick-commerce service that purpose to deliver apparel and life_style accessory within 30 minutes. This move semen as retailer in India are adapt to change consumer behavior, with a focus on fast delivery of grocery_store, beauty, and life_style merchandise within an hour.

retailer in India are rush to meet change consumer behavior and expectation, particularly fast delivery of grocery_store and beauty and life_style merchandise within an hour.

Myntra state M-Now will offer customer entree to 10,000 manner across manner, beauty, and life_style class from popular trade_name like Vero Moda, MANGO, Tommy Hilfiger, MAC, Bobbi Brown, and others.

The firm, own by Flipkart and helping 70 million user a calendar_month, plan to expand this offer to over 100,000 manner in the following three to four months.

Initially launching in Bengaluru, M-Now will gradually be introduce to other major city such as Mumbai, Delhi, Pune, and more in the approach calendar_month. This move position Myntra as one of the lead global vitamin_E-commerce player to offer quick commerce in the manner sector at scale.

Nandita Sinha, chief_executive_officer of Myntra, express gratitude for the strong association with lead trade_name globally, highlight the importance of offer customer a divers choice to manner their complete expression. The company's focus on empower customer through manner choice align with the growth tendency of quick commerce in India.

The market for quick commerce in India is estimate to range 2 billion by 2030, represent about 18.4% of the sum vitamin_E-commerce market and 2.5% of the overall retail market, harmonize to Morgan Stanley's estimates.

quick commerce has derive grip in large Indian city with high population density, devising the business model feasible with lower_berth stopping_point-mile delivery costs.

During pilot run of the quick-commerce offer, Myntra receive a strong customer response, bespeak a positive reception in the market.

premium beauty trade_name like Huda Beauty, MAC, Forest Essentials, Carolina Herrera, and Este Lauder will be available on M-Now, along with accessory trade_name like Armani Exchange, Fossil, and Casio. This expansion of offer further solidify Myntra's position in the vitamin_E-commerce market and enhance the overall customer experience.

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