As the competition is increasing in the E-commerce industry.  Myntra, the online textile shopping company has decided to offers EMI of at least  51 a month for purchasing of the clothes. Myntra is the first online fashion retailer to extends its approach to customers.

 Earlier, the Equated monthly instalment (EMI) was offered only on the costly products, which are purchased by the customers through their credit cards only, but now you can use on purchasing high-value items of price 13,000 or less . whereas, Jabong is not offering the same to customers, Jabong was taken over by the Myntra for 70 million$.

An expert in the online fashion industry said that this will surely boost the selling, as many of the buyers are youngsters and they do most of their shopping through online sites only. This scheme will attract them to purchase the item and pay later. As the most of the E-commerce company had tied up with the several banks like SBI, ICICI, HDFC, etc. They charge 13 % to 15% of interest on every purchase through a credit card that can be paid over 24 months. This will lower the price as a customer as to pay each month said by Dutta of Third Eyesight.

As the Indian is transforming into the fully digital country, the no. For users to access the internet is also increasing. Which could be a threshold for the Indian fashion retailing company as 80% the of the youngsters use internet for purchasing clothes on fashion retail sites.

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