E-commerce firm Flipkart has launched an in-app fashion platform for the so-called Gen Z, or people born between 1997 and 2012, saying the cohort is a “gold mine”.<\/p>\n
Spoyl has more than 40,000 fashion products, including western wear, accessories and footwear, in a diverse collection of designs, said Flipkart, which is owned by USA\u2019s Walmart.<\/p>\n
\u201cThe reason why we’re not putting up a separate app is that we believe that there’s a massive opportunity which we have on Flipkart itself to tap into this consumer base,\u201d said Sandeep Karwa, vice president, Flipkart Fashion, in an interview. \u201cToday, over 25 per cent of Flipkart Fashion\u2019s customer base comprises Gen Z. We’re sitting on a goldmine.\u201d<\/p>\n
India has the world\u2019s third largest online shopper base. According to a report by Bain & Co, one in three online shoppers is a Gen Z and their online fashion purchase is at entry-price points. A separate report by McKinsey said Gen Z loves expressive clothes, wants to stand out, and has an ever-changing style.<\/p>\n
Gen Z\u2019s fashion sense is influenced by OTT content, international pop stars and pop culture. Value, technology and experience shape the generation\u2019s shopping.<\/p>\n
Flipkart has a technology to identify trends and experiences. \u201cHow do you crawl social media handles which are probably not even based in India and identify trends in places like Prague, Brazil or even related to Korean popular music or TV series,\u201d said Karwa.<\/p>\n
Spoyl is part of Flilpkart\u2019s commitment to the government\u2019s \u2018Make in India\u2019 initiative for domestic manufacturing, he said. By leveraging the company\u2019s technology and insights on spotting trends, Flipkart will enable sellers across India to benefit from Gen Z fashion.<\/p>\n
\u201cThese insights reach thousands of our sellers who make (products) like garments, footwear and handbags for Gen Z customers, without going to places like China or Turkey. Over 95 per cent of these products are getting built inside the country,\u201d said Karwa.<\/p>\n
Shoppers on Spoyl will use a first-of-its-kind unisex product navigation that enables gender-agnostic browsing for styles, said Flipkart.<\/p>\n
Walmart-owned online retailer Myntra in May launched FWD, an immersive fashion experience for Gen-Z shoppers. The aim is to tap the demographic cohort, succeeding millennials and drive the acquisition of 10 million new Gen-Z customers in the next two years.<\/p>\n
Myntra said 20 per cent of the world’s Gen-Z group lives in India. With the oldest of the generation turning 25 last year, the group has come of age with a purchasing power of about $360 billion, according to industry sources.<\/p>\n","protected":false},"excerpt":{"rendered":"
E-commerce firm Flipkart has launched an in-app fashion platform for the so-called Gen Z, or people born between 1997 and 2012, saying the cohort is a “gold mine”. Spoyl has more than 40,000 fashion products, including western wear, accessories and footwear, in a diverse collection of designs, said Flipkart, which is owned by USA\u2019s Walmart. \u201cThe reason why we’re not putting up a separate app is that we believe that there’s a massive opportunity which we have on Flipkart itself to tap into this consumer base,\u201d said Sandeep Karwa, vice president, Flipkart Fashion, in an interview. \u201cToday, over 25 per […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-800419","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/800419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=800419"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/800419\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=800419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=800419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=800419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}