Myntra has announced its sixth End of Reason Sale (EORS) from 24-26 June. Just ahead of the sale they have launched a new social shopping feature. The Shopping Groups will offer an additional 15% discount after the EORS concludes and will be valid for six months. Myntra expects that four lakh new customers will log in during this three-day sale. Around 1,800 brands will be a part of this sale. Also, they have added 800 Kirana stores as part of its additional delivery network ahead of EORS.
Ananth Narayanan, Chief Executive of Myntra and Jabong said, “A discount of 50-80% has always been our call-out for the EORS as almost all brands offer sales around this time. Put together, the January and June EORS contributed 20% to Myntra-Jabong combine’s annualized gross merchandise value (GMV) for 2016-17″
He also added that the company expects a 45% increase in the gross sale as compared to EORS-2016.
Myntra has also launched its private labels on Jabong this year, which includes brands like Roadster, HRX, Anouk, and others. While Jabong’s private labels are likely to contribute 7-8% shares of the sale. Overlapping of the customers between these two portals is 27% currently which creates a differentiated audience.
Besides the online shopping portal has already held a full-price sale in April. On this note, Narayanan said, “The idea is to reduce discounts during the actual season for the collection, while EORS coincides with the end-of-season sales for brands”.