Myntra to shut website from May 1

MUMBAI: Online fashion retailer Myntra will shut its website from May 1, in what seems like a definitive step towards becoming only a mobile app­based retailer, sources close to the development told TOI. This will be the first such instance of an e­commerce player transforming into a mobile­only entity as internet usage over smartphones surges in India.

TOI first reported in its February 7 edition that Myntra may look to phase out its web presence sometime during this year. However, the decision to shutter the site has been advanced, said sources, who did not want to be named. Flipkart, which acquired Myntra a year ago, may also follow suit if the experiment goes down well with the fashion e­tailer. Both Flipkart and Myntra have already stopped their mobile websites from directing visitors to their respective apps.

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Love visual aspect of news? Enjoy this exclusive slideshows treat! Myntra to shut website from May 1 READ MORE ON » Myntra MUMBAI: Online fashion retailer Myntra will shut its website from May 1, in what seems like a definitive step towards becoming only a mobile app­based retailer, sources close to the development told TOI. This will be the first such instance of an e­commerce player transforming into a mobile­only entity as internet usage over smartphones surges in India. TOI first reported in its February 7 edition that Myntra may look to phase out its web presence sometime during this year.

However, the decision to shutter the site has been advanced, said sources, who did not want to be named. Flipkart, which acquired Myntra a year ago, may also follow suit if the experiment goes down well with the fashion e­tailer. Both Flipkart and Myntra have already stopped their mobile websites from directing visitors to their respective apps. Mukesh Bansal, Myntra co­founder and head of commerce at Flipkart, did not respond to TOI's query on the closure of the e­tailer's site. There is a 360­degree advertising and marketing campaign being planned by Myntra to announce its app­only presence going forward, which will be unveiled in the coming weeks, sources said. Currently, Myntra draws as much as 80% of its traffic and 70% of sales from its mobile app. Flipkart, too, registers more than 60% of sales through its app. Bansal had in the February 7 report said "we are (Myntra) 100% focused on mobile and making all our investments on the platform going forward". In a recent interaction with TOI, Sachin Bansal, co­founder of Flipkart, had said that desktops weren't giving the same return on investments anymore compared to a few years ago. Bansal said Flipkart would keep an eye out for more acquisitions in the mobile space, going forward.

Online shopper penetration (as a percentage of internet users) in India is expected to increase from 9% in 2013 to 36% in 2020, primarily led by mobile users, a recent Morgan Stanley report said. With mobile usage increasing, advertisement costs (primarily search engine optimization) are declining as traffic is increasing either directly to the website or Myntra to shut website from May 1 ­ The Economic Times http://economictimes.indiatimes.com/industry/services/retail/myntra­to­shut­website­from­may­1/articleshow/46819988.cms 2/5 News in Pics 6/20 What Rihanna wore at 2015 Met Gala will stun you! Why Tesla's Powerwall is such a big deal Hero Moto­Corp's Splendor iSmart: Most fuelefficient in the world More » Promoted Stories 3 Best Places to Build your own Website Template Website Builders Top 7 Lucrative Internet Business Ideas congressoturel 10 Daily Habits That Will Give You Incredible Willpower Willpowered To Get Rich, Tell Your Emotions to Shut Up OZY Here Are 6 Rules For Investing Like Warren Buffett TalkMarkets Ensuring Compliance in the Cloud CIO.com More from The Economic Times Salman Khan verdict: Actor found guilty in the 2002 hit­and­run case 06 May 2015 In a first, SAT admits SBI Life's petition against IRDAI 05 May 2015 Why Indians are no longer queuing up to open petrol pumps 21 Apr 2015 Strong waves lash Latin American coast 04 May 2015 People are fainting during 'Mohenjo Daro' shoot, says Hrithik Roshan 20 Apr 2015 Denver teacher's third grade assignment goes viral online 18 Apr 2015 NEWEST OLDEST RECOMMENDED (3) MOST DISCUSSED AGREE DISAGREE LET US WAIT AND SEE Agree (0) Disagree (0) Recommend (0) Offensive through a mobile app. This is also increasing customer stickiness as once an app has been downloaded, customers generally visit that website before visiting any other site, the report said.

Seeing the trend, over the past year or so younger startups have begun operation as mobile­only platforms, a shift from the concept of mobile­first adopted by the first wave on tech companies. The Internet & Mobile Association of India estimates that total internet users amounted to over 300 million in December 2014, with close to 60% via a mobile connection.

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