For an entity that calls itself a technology company, Myntra has come a long way in the fashion retailing space. Last year the brand crossed $1 billion in GMV (Gross Merchandise Volume).

The company achieved over 50% annual growth and Myntra and Jabong together hold 40% market share in the country’s online fashion business.

So what has fuelled the retailer’s journey on the fast growth lane? Well, it emerges that technology has been an integral factor in the way it engages its target audience.

Using technology for better customer connect

Myntra actively applies technology to all aspects of its retail business, whether it is in terms of the product design, the back-end processes or the shopping interface.

At the product level, for example, a high-tech jacket that lets you take calls, play your favourite song or shuffle music, is not so futuristic in Myntra’s scheme of things. In fact, the company is actively exploring ways of developing such products.

At the back-end level too, the company’s innovation lab is continuously working to disrupt the fashion industry. The brand has also invested in artificial intelligence and machine learning-based platform,Vorta, to cut down the design process time and analyse/predict design trends. Much of these applications are driven by data, which is used to drive better consumer experience.

Elaborating on technology being at the core of the brand’s business, Manohar Kamath, CXO & Head, Myntra Fashion Brands, says, “Myntra is a technology company in the business of fashion retail. ”

This focus on technology and fashion stems from a very clear reason -- a bulk of the retailer’s target audience comprise of the millennials. Says Kamath, “We give exactly what the millennial consumers want. So Myntra fashion brands offers a wide range which is high on fashion trends. Fast Fashion, combined with our ability to reach the consumer through the digital channels, works very well in delighting our target consumers.”

Creating a high-tech retail environment

Much of the brand’s tech initiatives can be seen at the retail level, particularly for its private brand ‘Roadster’. This casual denim apparel brand from the stables of Myntra is one of the largest revenue generators for the company. In just under five years it has overtaken international brands present in India in terms of the pace of growth.

No wonder, ‘Roadster’ was the retailer’s natural choice to foray into the brick and mortar space. So cashing in on the online success, Myntra entered the offline space through a franchise partner in June 2017 with Roadster, thus creating an omni-channel retail presence. Currently, the brand has three stores in the country. Talking about Roadster, Manohar Kamath, says, “Roadster is built on a platform which is the endless aisle concept. It has 12,000 live-range options available online, which is more than 3-4 Casual wear / denim brands put together.”

The first Roadster store introduced several unique features, including a video wall, touch-sensitive displays, green screen technology, virtual reality etc. The unique ‘Scan & Go’ purchase mechanism allows shoppers to add their favourites to their shopping cart on the Myntra App, doing away with shopping bags, checkout counters or billing queues.

Blending click and mortar for efficiency