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Myntra surpasses 75 mn new app users, achieves record customer growth

13Dec

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Myntra surpasses 75 mn new app users, achieves record customer growth

Walmart-owned online fashion retailer Myntra registered a record high of 60 million monthly active users this festive season. Driven by a growing customer base, with differentiated offerings for Gen Z, and a robust portfolio of international fashion and beauty brands, the platform solidified its position in the premium and mass premium segments, growing faster than the market. Backed by a tech-led experience and a choice of 2,300,000 styles, the platform recorded 75 million new app users in 2023, with its loyal customer base growing by 100 per cent year-over-year in the last 18 months. The Gen Z fashion segment has recorded a 2.25X Y-o-Y surge in demand on the platform. The Gen Z segment has witnessed a 175 per cent Y-o-Y growth in customers. “We’ve added the highest ...

PhonePe scales up its shopping app to compete with large e-commerce firms

Walmart-owned fintech firm PhonePe is scaling up the operations of its e-commerce platform Pincode as an increasing number of local businesses go online to compete with large online retailers. Pincode, launched in April this year, competes with Flipkart, Amazon, Reliance's JioMart and Tata-owned BigBasket in the e-commerce space, which is forecasted to grow to $350 billion by 2030. Pincode is live in ten cities, including Bengaluru, Mumbai, Delhi, and Chennai, and is planning to expand across Tier-II and Tier-III cities in the country. The initial response and rapid consumer adoption of Pincode have given the team the confidence to expand its services. "We are experimenting with a couple of smaller cities," said Vivek Lohcheb, chief executive officer of Pincode, in an interv...

FedEx’s New Robot Loads Delivery Trucks Like It’s Playing 3D Tetris

“In the last year or two, people have taken advances in AI and machine learning and said ‘we can make a real business case here, whether it’s lowering costs or improving efficiency or whatever,” says Matthew Johnson-Roberson, director of the robotics institute at Carnegie Mellon University.Johnson-Roberson says years of investment in areas like self-driving vehicles, combined with a steady cadence of advances in AI, will allow robots to creep into more workplaces. “My hope is that we’re just at the beginning of a coming wave in commercial robotics.”Dexterity’s AI software uses data from cameras and lidar sensors to perceive packages and plan how to stack them. Courtesy of DexterityThe FedEx robot was built for the company by Dexterity, a startup based in Redwood City, California, that spe...