Gen Z Power: The ‘swipe-up’ generation is exciting business opportunity for Myntra, CMO says
Gen Z will be loyal back to the brand, says Sunder Balasubramanian, Chief Marketing Officer, Myntra.
Gen Z represents a very “exciting business opportunity”, the Myntra CMO told ET Online. In urban India alone, he says, there are over 200 million Gen Z individuals, with more than 60 million of them already shopping for lifestyle products online. “Looking ahead, they are set to become a core audience for any major brand in the country.”
In just over a year, led by FWD, Myntra has nearly doubled its GenZ customer base, growing from over 8 million in mid-2023 to an impressive 16 million in 2024, emerging as the go-to destination for GenZ fashion. The company plans to add another 20-25 million GenZ customers in the next couple of years.
In an exclusive interview with ET Online, Mr Balasubramanian talks about Gen Z’s impact on festive sales, their high shopping frequency along with their desire to express their identity through fashion and beauty. Edited excerpts:
Gen Z has become the «Swipe Up» generation, swiping up for nearly everything. To what extent do you think they will impact the upcoming festive fervour sales?
The growth among Gen Z has been substantial, with notable increases in user base and customer engagement. The interesting part is, because it's just starting out, we expect the growth to be exponential on a cohort like this. So for example, if we are at 1.6 crore customers today, we are looking to add on another 2-2.5 crore customers in the next couple of years. So it is going to be in multiples.
