The e-commerce firm states that there are over 40,000 fashion products available for a diverse collection.
E-commerce company Flipkart has launched an in-app fashion platform for individuals born between 1997 and 2012, known as Gen Z, claiming that this group is a ‘gold mine
Owned by Walmart in the United States, Flipkart mentioned that Spoyl offers over 40,000 fashion products including Western clothing, accessories, and footwear, all available within a wide variety of designs.
Sandeep Karwa, Vice President of Flipkart Fashion, stated in an interview, ‘Why aren’t we launching a separate app? The reason is that we believe Flipkart presents a huge opportunity to leverage this consumer base.’ ‘Today, more than 25% of Flipkart Fashion’s customer base is composed of Gen Z. We are sitting on a goldmine.’
India holds the world’s third-largest online shopper base. According to a report by Bain & Company, one out of three online shoppers is a Gen Z, starting their online fashion purchases at early prices. Another report by McKinsey states that Gen Z prefers expressive clothing, wanting to appear unique, and their style is ever-evolving.
Gen Z’s fashion sense is influenced by OTT content, international pop stars, and pop culture. They shape the purchasing of value, technology, and experience-driven generation.
Flipkart has a technique for identifying trends and experiences. Karwa stated, ‘We crawl social media handles that are not even based in India, recognizing trends related to places like Prague, Brazil, or even identifying trends related to Korean popular music or TV series.’
He said that Spoyl is a part of Flipkart’s commitment to the government’s ‘Make in India’ initiative for domestic manufacturing. Leveraging the company’s technology and trend insights, Flipkart will enable Indian sellers to benefit from Gen Z fashion across the country.
‘This insight reaches our thousands of sellers who create products like garments, shoes, and handbags for Gen Z customers without going to places like China or Turkey. Over 95% of these products are being made within the country,’ Karwa said.
Flipkart mentioned that Spoyl’s shoppers will use a first-of-its-kind unisex product navigation that enables gender-neutral browsing for styles.
Walmart-owned online retailer Myntra launched FWD in May, which is a comprehensive fashion experience for Gen Z shoppers. Its aim is to tap into the demographic dividend in the next two years, benefiting from the successful millennium and acquiring 10 million new Gen Z customers.
Myntra stated that 20% of the world’s Gen Z population resides in India. According to industry sources, with the oldest member of the generation turning 25 last year, the group has matured with approximately $360 billion in purchasing power.