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Myntra's entry to quick commerce in Delhi-NCR and Mumbai hold key considerations
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Amidst critical operational challenges in the quick commerce sector related to hiring and retaining delivery partners, ecommerce major Myntra has rolled out its 30-minute delivery service M-Now in Delhi NCR and piloted M-Now in Bengaluru in December last year, initially with about 10,000 stock-keeping units (SKUs). ET had reported on December 4 that the online fashion company plans to take the service to Mumbai, New Delhi and Pune in the coming chief executive Nandita Sinha, had told ET in an interview that the fashion etailer had identified significant demand from fashion-first and trend-focused premium customers for quick deliveries, adding that customers are looking for access to their preferred brands with speedy M-Now, customers can find collections from nearly 600 brands, including Vero Moda, Mango, Calvin Klein, Tommy Hilfiger, Levi's, Dyson, YSL, Prada, Carolina Herrera, Huda Beauty, the company said.M-Now's presence in Delhi-NCR makes it pivotal in joining the quick commerce race, and offering multiple brands in one click. In April, data sourced by ET revealed that Myntra is seeing sharp growth in vacation-related shopping. Summer-ready styles in apparel and footwear—such as sundresses, skirts, shorts, cotton shirts, swimwear, flip flops and sandals—are seeing strong said demand for these categories rose around 2.2 times year-on-year in March and April compared to the beginning of the year. Popular brands in this space include H&M, MANGO, Puma, Crocs, US Polo, Tommy Hilfiger, Adidas, Trendyol and Levi' products readily available with convenient return options are likely to spur demand on quick commerce platforms like M-Now, Myntra's M-Express has already been popular with customers, delivering orders in one to two business expanding to Delhi-NCR and Mumbai region would open opportunities to tap urban consumers looking for quick FY24, Myntra posted a net profit of Rs 30.9 crore against revenue of Rs 5,173.7 commerce now accounts for 20% of India's ecommerce market and is growing at a rate of 50% annually, Walmart International chief executive Kathryn McLay said in May Walmart-backed Flipkart's Q-comm entity Flipkart Minutes, is targeting 800 dark stores by the end of 2025. Companies such as Zepto are in advanced talks with Edelweiss Alternative Asset, domestic family offices and smaller credit funds for around Rs 1,500 crore structured had an annualised GOV of $3.6 billio n in the quarter ended December 31, 2024. Swiggy Instamart posted an annualised gross sales run rate of $1.8 billion in the same price becomes the primary differentiator for these apps with near-similar user experience, intense discounting and attendant cash burn are likely to intensify further, a recent report by ET highlighted. This month, average discounts across categories rose to 20–25% on maximum retail price compared to below 10% two years ago across various quick commerce platforms, including for segments like dairy and groceries, the sources said.
