Flipkart has launched Spoyl which is an in-app fashion platform specifically targetting the Gen-Z population. Gen-Z refers to the population who is born between 1997 and 2012. Flipkart mentioned that Spoyl has over 40,000 fashion products, including western wear, accessories and footwear, in a diverse collection of designs.
This comes months after Flipkart's Myntra launched its Gen Z focused platform FWD. As per Flipkart 25% of its customer base comprises of Gen-Zs. Flipkart Fashion's VP Sandeep Karwa has said that the company is sitting on a gold mine as the customers of this age group are already in Flipkart.
“We are sitting on a goldmine with these customers already present on Flipkart. However, there is a lot to be done with Gen Z customers who are now turning 16. So that 25% is a big base", said Karwa.
According to a report by Bain & Co, one in three online shoppers is a Gen Z and their online fashion purchase is at entry-price points. A separate report by McKinsey said Gen Z loves expressive clothes, wants to stand out, and has an ever-changing style.
Karwa also said that the company would look at customer engagement and business performance intially before prioritising the kind of business the company is expecting from the launch.
“There are no specific targets but the metric for this launch is going to be engagement and how consumers are looking at selection. The first six months will be a learning phase, and then maybe we will prioritise the kind of business we are doing with this launch”, said Karwa.
Spoyl is also a part of Flilpkart’s commitment to the government’s ‘Make in India’ initiative for domestic manufacturing.