Flipkart owned Myntra had been discussing possibilities of launching an offline store from quite some time now. They have finally launched an offline store for their private label Roadster. The Myntra store is an amalgamation of style and technology.
Entering the Offline Space with the Roadster Myntra Store
The 3,500 sqft store has been opened in the Indiranagar area of Bengaluru. Myntra has equipped their first offline store with technology as much as they can. The store has several touch screen monitors and some other gadgets. Virtual Reality gear has also been placed at the store for a 360 degree shopping experience. Customers will also get an opportunity to scan the bar code and pay online on the Myntra site.
Will it Improve Myntra’s Numbers?
Myntra’s financials have been facing the brunt of investment slowdown. However post the Flipkart acquisition, some improvements have been made and this innovative store is one of them. They have taken some pioneering steps like the ability to touch n feel the products offline but the ability to pay online. The users can easily scan and pay online and also receive the products at their home. Thus you get the benefits of online shopping while also being able to touch, feel and try the products before buying. Myntra’s private label Roadster has been contributing 8% of Myntra’s total revenue. The company also owns 12 other private labels. We are anticipating if this offline store performs upto expectations, Myntra might as well start offline stores for other private labels. The team has however not commented on coming up with offline stores for other labels as of yet.
Is this the Future of Ecommerce?
With Lenskart successfully operating 275+ offline stores in India and now Myntra also stepping in, is this the future of Ecommerce? Though it hasn’t been a bed of roses for everyone who tried it. Yepme.com also came up with its offline stores and wasn’t taken very well by the public. Some other niche websites like Faballey.com, Caratlane.com have also started their offline stores. If this model flourishes, it might be taken as a method to save the bleeding Ecommerce companies in India.