E-commerce giant Flipkart launches new fashion portal 'SPOYL' for GenZ

Walmart-owned E-commerce giant Flipkart is now tapping into another fashion segment. The company today announced the launch of a new fashion portal named 'SPOYL' for GenZ shoppers across the country.

According to the company's statement, SPOYL will list over 40,000 products, including categories such as western wear, accessories and footwear. 

According to a report by Bain & Co, one in three online shoppers is Gen Z, and these shoppers mostly purchase fashion as the first category online, at entry price points. A recent report by McKinsey states Gen Z loves expressive clothes, wants to stand out rather than fit in, and has an ever-changing style.

Flipkart said that over 25% of its fashion customer base comprises Gen Z. Gen Z is known to be an internet-first generation and are greatly influenced by a variety of factors when it comes to their fashion choices - such as global fashion phenomena, OTT content, their favourite international pop stars and pop culture events, the company said in a statement.

Sandeep Karwa, Vice President of Flipkart Fashion, said, “Our mission with ‘SPOYL’ is to address the growing needs of Gen Z who embrace their inner confidence and express their authentic selves through their style."

"This is also a generation that sets out to break stereotypes on a daily basis, without judgment. We believe that every person deserves to feel empowered and stylish, and this new launch aims to deliver just that. By using technology that helps us stay ahead of the curve, we will ensure that every single Gen Z shopper has access to choices that suit them best," Sandeep said.

According to reports, Flipkart Fashion is the largest online fashion retailer in India with a 27% market share. Myntra follows at 22% share. Amazon Fashion and Meesho each have around 15% share. Ajio, Nykaa Fashion and others comprise the remaining market. 

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