The e-commerce giant, Flipkart has become the latest e-commerce player to roll out dedicated offerings for Gen Z shoppers in India.
Flipkart Rolls Out Fashion Portal Spoyl For Gen Z Shoppers
Under this initiative, the Walmart-owned platform’s new app-in-app feature Spoyl will showcase over 40,000 products across categories including western wear, accessories and footwear.
The news of Flipkart’s focus on Gen Z shoppers comes shortly after Myntra, which is also owned by Walmart, launched FWD, which is aimed at people born between 1997 and 2012, often referred to as Gen Z.
Other ecommerce platforms are not much behind as Meesho also unveiled a new logo to appeal to a wider base earlier this year.
On August 17, the Vice President-Flipkart Fashion, Sandeep Karwa said, “This is a generation that sets out to break stereotypes on a daily basis, without judgment. We believe that every person deserves to feel empowered and stylish, and this new launch aims to deliver just that.”
Focus On Category
The ecommerce platforms focusing on this category is not a surprise, as these are the people who spend a considerable time on the internet and have a higher disposable income.
Statistics also say that one in three online shoppers is Gen Z and guess what, they mostly purchase fashion as the first category online, at entry price points, as per the information provided in a report by Bain & Co.
Further, Gen Z wants to stand out rather than fit in because of which their styles are ever-changing, McKinsey said in a recent report.
Moving ahead, Karwa said, “By using technology that helps us stay ahead of the curve, we will ensure that every single Gen Z shopper has access to choices that suit them best.”
Not only that over 25 percent of Flipkart Fashion’s customer base comprises Gen Z.
So, there is untapped potential in this segment, Flipkart said in a release.
When it comes to market share, Flipkart Fashion is the largest player in the online fashion industry with a 27 percent market share.
It is followed by Myntra, which accounts for 22 percent of the market.
Next comes Amazon Fashion and Meesho, where each have a market share of about 15 percent.
Reliance’s Ajio, Nykaa Fashion and others make up the remaining share.
When it comes to Gen Z, it is known to be the internet-first generation and is greatly influenced by a variety of factors when it comes to its fashion choices such as global trends, OTT content, favorite international pop stars and pop culture events, as per the release.
