E-commerce marketplace Amazon India has announced a month long fashion marathon – its end of season sale starting July 2. Its competitor, the Flipkart owned Myntra too is holding a two-day sale starting the same day, offering up to 80% discount on select brands and designs in its ‘End of Reason’ sale.
This is the second such sale for Amazon this year, after the introduction of the new e-commerce regulations that ban marketplaces from influencing product prices.
Retailer for fashion and lifestyle brands Myntra has enabled customers to take a preview of the products and prices available during the ‘End of Reason Sale’. This is being undertaken for the first time by any e-commerce company in the country. The special point about the sale is that shoppers can create a wish list and take a sneak peak as soon as the sale opens at midnight.
For Amazon, the fashion category is among the top three segments on Amazon.in, with more than 15,000 brands and over two million fashion products.
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According to a report by AT Kearney and Google India, the lifestyle segment will overtake consumer electronics as the largest category (35% and 20% of e-tail spend) by 2020. The report further adds that women are likely to double their share of online spend in the lifestyle and personal care segment by 2020.
Myntra CEO, Ananth Narayanan, said, “It is by far, the largest fashion sale event in the country with an ever increasing number of customers coming on board. We expect 20x revenue during the sale and twice as much as the previous such sale, held early this year.” He added, “With an estimated 10 million people participating this time, we are actively gearing up for the sale to help customers make the best of the two days,” Narayanan, added.