Myntra now an App-only brand, Jabong not keen on shutting down website for app-only approach
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If you’re a fan of buying fashion stuff online, here’s something of your interest. We hope you have upgraded to a smartphone by now. Because fashion ecommerce company The rapid expansion of smartphones from 120-140 million in 2014 to 600-700 million in 2020 will provide the base for creation of an inclusive market unprecedented in the history of fashion shopping. Mobile apps are taking utilitarian role in users’ life by being the default mode of accessing and consuming internet services. According to a recent study, 90% of smartphone users in India use apps, which is close to 158 million as of today. The country ranks second only to the US in the usage of shopping apps.
However, if you dislike shopping from mobile, blaming it to the smaller screen size, know here,
“We strongly believe customers should have
Sinha said an app-only operation may limit price comparison and product visibility for consumers, who could find it easier to quickly open other sites on a laptop or desktop. "Getting a price discovery from an app will be very difficult.”
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Jabong won’t raise funds independently:
In an interview with The Economic Times, Jabong
Sinha said Jabong will no longer raise funds independently. It received $100 million from British development finance institution CDC and other investors last year. Jabong is now part of the Global Fashion Group, which will provide the finances. GFG will now become the central group where, if required, further
As per the financial daily, last year, Rocket Internet and AB Kinnevik created a global alliance of five large ecommerce companies in which both have sizeable investment -- Jabong, Dafiti in
Sinha was dismissive of the buzz that US-based
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“Talks with Amazon were never serious," he said. Germanybased Rocket Internet's ambition is to become the largest online platform outside China and the US and Jabong is an important cog in its global scheme of things. Advertisement
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