According to a report, Myntra is piloting a four hour delivery service in select Indian cities, including Bengaluru and New Delhi, this represents a significant reduction from its usual 2-3 day delivery window, driven by the growing influence of quick commerce in India.
The company plans to roll out the four hour delivery service to more Indian cities by the end of the year. The decision comes in response to the rapid adoption of fast delivery models across various sectors in India.
Quick commerce, with firms offering delivery times as short as 10-15 minutes, is reshaping consumer behaviour in India. Companies in categories such as grocery and office supplies have gained significant market share, and some are now looking to enter the fashion industry, which traditionally sees high return rates.
As Myntra is owned by Flipkart, this move reflects the agility of the Flipkart Group in responding to the surge in quick commerce. Walmart owned Flipkart has recently entered the fast delivery space.
Over the past two years, Myntra has been working to reduce delivery times. Its Express service, which delivers products in 24-48 hours, is already operational in select cities. An internal study by Myntra indicated that offering quicker delivery increases the likelihood of customers completing purchases.
The fashion sector poses challenges for e-commerce platforms due to the vast assortment of products and high rejection rates. Myntra, which reported approximately 40 million transacting users last year, is offering a smaller selection of items during the trial phase of its quick delivery service.
The rise of quick commerce firms, particularly in categories such as beauty, personal care, and apparel, is exerting pressure on incumbents like Myntra and Nykaa. Quick commerce startups are selling a variety of items, including apparel essentials, and gaining traction.
According to reports, startups in India’s quick commerce space, such as Zomato’s BlinkIt, Tata’s BigBasket BB Now, Zepto, and Swiggy’s Instamart, are operating at an annualised run rate of over $6 billion in gross merchandise value (GMV), a significant rise from last year’s $2.5 billion.
Analysts and investors predict that quick commerce could have a wider impact on the overall Indian e-commerce market, which recorded sales of approximately $50 billion last year. JPMorgan analysts noted that quick commerce firms are rapidly gaining market share from traditional and modern trade retailers, as well as other e-commerce players.
Zepto, one of the players in the quick commerce space, expects to grow by 150% in the next 12 months, signalling the continued expansion of this sector.
