5 min
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Myntra, owned by ecommerce giant Flipkart is betting big on AI[/caption]
Bangalore-based fashion portal Myntra, which was acquired by ecommerce company Flipkart is reportedly going to use Artificial Intelligence (AI) to improve the customer experience. In an attempt to drive growth and boost profit, Myntra has trained its eyes on AI and ML to deliver personalized customer experiences. According to reports, Myntra is using customer data to curate lines based on current fashion trends and make a one-of-a-kind personalized store experience.
Reports suggest that Myntra will also launch an app based chat service intended to help customers interact with their favourite brands. The investment in new technology is also an attempt to boost sales. Flipkart already has a strong base in fashion, with Jabong being bought over by Myntra for earlier in the year. CEO of Myntra and Jabong, Ananth Narayanan, cited in a recent interview that fashion and lifestyle are the most exciting segment in e-commerce right now. “And undoubtedly, Myntra will continue to create more excitement for its consumers through its selection, service and engagement,” said Ananth in a recent interview.
With fashion and lifestyle being the biggest drivers of growth in ecommerce in India, Flipkart strengthened its fashion segment with major acquisition to maintain its dominance. For ecommerce giants Amazon and Flipkart, fashion is the next frontier for battle for revenue generation with both companies betting big to gain market share in the fashion segment
Myntra, owned by ecommerce giant Flipkart is betting big on AI[/caption]
Bangalore-based fashion portal Myntra, which was acquired by ecommerce company Flipkart is reportedly going to use Artificial Intelligence (AI) to improve the customer experience. In an attempt to drive growth and boost profit, Myntra has trained its eyes on AI and ML to deliver personalized customer experiences. According to reports, Myntra is using customer data to curate lines based on current fashion trends and make a one-of-a-kind personalized store experience.
Reports suggest that Myntra will also launch an app based chat service intended to help customers interact with their favourite brands. The investment in new technology is also an attempt to boost sales. Flipkart already has a strong base in fashion, with Jabong being bought over by Myntra for earlier in the year. CEO of Myntra and Jabong, Ananth Narayanan, cited in a recent interview that fashion and lifestyle are the most exciting segment in e-commerce right now. “And undoubtedly, Myntra will continue to create more excitement for its consumers through its selection, service and engagement,” said Ananth in a recent interview.
With fashion and lifestyle being the biggest drivers of growth in ecommerce in India, Flipkart strengthened its fashion segment with major acquisition to maintain its dominance. For ecommerce giants Amazon and Flipkart, fashion is the next frontier for battle for revenue generation with both companies betting big to gain market share in the fashion segment- AI Productivity to Add $28 Billion to $84 Billion to India's GDP: Cognizant Study
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