Myntra, India’s largest fashion e-commerce platform, is testing the idea of offering a 4-hour delivery of a smaller selection of items to customers in multiple cities by the end of the year, according to TechCrunch. The announcement coincides with a surge in the nation’s quick commerce market, which is presently led by Zepto, Blinkit, a company owned by Zomato, and Swiggy Instamart. Due to the surge in quick commerce, customer behavior has resulted in a dramatic acceleration of the service’s delivery time frame, which was previously two to three days.
According to TechCrunch, the Flipkart Group-owned company is reportedly testing the expedited delivery service in Bengaluru and New Delhi. By year’s end, the company intends to extend its 4-hour delivery service to multiple cities in India. The report states that Myntra’s internal assessment revealed a noteworthy rise in customers’ inclination to finish purchases when given the option of faster delivery times. This development comes after the introduction of Myntra’s “M-Express” service in 2022, which promised to deliver goods in a few cities in as little as 24-48 hours.
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The move into quick delivery coincides with the growth of quick commerce in India, where a number of companies are steadily capturing market share in areas such as office supplies and groceries, with delivery times of 10 to 15 minutes. This action further demonstrates Flipkart’s dexterity in the Indian e-commerce race. observing India’s rapid adoption of quick commerce. The main competitor of Flipkart in India, Amazon, has refrained from competing thus far.
If Myntra is successful, it will become the newest player in the Indian e-commerce market’s race for quick commerce. An internal evaluation also revealed that because of the wide assortment options and greater customer rejection rates, the fashion category has historically proven to be difficult for Indian e-commerce companies. Many analysts and investors have conjectured that quick commerce’s growth may have broader effects on India’s e-commerce industry as a whole. Industry estimates indicate that e-commerce companies made about $50 billion in sales last year.
In addition to receiving a lot of funding, the quick commerce platforms have seen rapid growth in their top lines and expansion. Zepto raised $1 billion in funding earlier this year in roughly three months. Zomato’s growth engine, Blinkit, has emerged, but Swiggy is counting on its impending IPO to grow its quick commerce vertical even more.
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