Bengaluru, May 11, 2023: Myntra has been at the helm of the social commerce revolution in India with its industry-first propositions such as Myntra Studio, M-Live, and category-specific creator squads, Style Squad, allowing shoppers to utilize the assets as a tool to discover the latest styles, outfits, and trends in the world of fashion and beauty. The platform estimates its social commerce charter to garner ~1 billion impressions (cumulative of all in-app content interactions by a shopper) before the end of the year, to be contributed by 30% of the platform’s monthly active users (MAU), indicating the indispensable role of compelling visual content in the online fashion, beauty and lifestyle ecosystem.
Social Commerce is shaping the future of online shopping
Launched in 2019, Myntra Studio is a personalized content platform that is meant to entertain alongside providing users with tailored static, video, and live content to inform and inspire shoppers. Myntra Studio currently engages a whopping 15 million+ users every month. Further strengthening Myntra’s social commerce proposition, the platform introduced M-Live, the platform’s avant garde video-led live commerce solution, under the umbrella of Myntra Studio in 2021.
Since its inception, M-Live has hosted 8000+ live commerce sessions, and currently hosts around 200 live sessions per month, of which 60% are brand-led sessions, with a healthy engagement rate of 55% per session. The brand-led lives enable brands across the platform to build communities and curate content for consumers, allowing them to effectively engage with viewers and bring them trends, hacks and styles from the world of fashion and beauty trending outfits as a part of their latest offerings. Some of the popular brands that have active presence on Myntra’s social commerce platform are, H&M, USPA, Levi’s, Adidas, Libas, HRX, Nivea, Lakme, and Maybelline, along with popular D2C brands like Sugar and Arata, among others.
Additionally, Myntra has also hosted 20+ celeb-led lives, with some of the popular celebrities including Akshay Kumar, Hrithik Roshan, Ayushman Khurrana, and Masaba Gupta, among others. The top-performing live to date remains Akshay Kumar’s M-Live, which saw the Bollywood star launch his brand, Force IX, on Myntra, garnering a landmark 6 lakh+ viewers. Myntra is looking at conducting 5-10 exciting celeb-led lives, alongside leading brands for its upcoming EORS-18, the platform’s much-awaited bi-annual marquee shopping event.
Empowering the Creator Economy
Over the last few years, Myntra has grown its pool of creators from strength to strength with a current charter of 5000+ emerging and popular creators, having chosen the top 10% of them to be a part of the platform’s strategic creator squads. This allows them to build larger fan bases on the Myntra platform as well as their respective social media platforms, while also enabling these creators with a steady source of income via multiple compelling social campaigns and sought-after brand partnerships. Additionally, Myntra also holds training sessions and shares regular feedback with creators, fuelling their growth and enabling the creators to be the digital faces of Myntra while carving a niche for themselves.
Interesting Industry Trends being witnessed by Myntra’s Social Commerce Proposition
- Enabling the growth of key categories: In addition to fashion, categories such as beauty and personal care have also been receiving a lot of traction on M-Live, due to social commerce’s ability to solve for discovery, application and conversion.
- Thriving Customer base: Myntra Studio is extremely popular among the urban and metro cohorts, while M Live attracts a good mix of tier-2/tier-3 viewer base.
- Exploring New Formats: To share updates in real-time for shoppers, Myntra is also exploring newer formats of live engagement such as on-ground lives from events and store openings to effectively engage consumers, with one such instance being the iconic Lakme India Fashion Week event multicast across social media platforms.
- Best-selling items: The popular products in demand on Myntra’s social commerce charter include tops, dresses, t-shirts, home décor items, kurtas, and make-up items, among others.
- Unlocking the Power of the Creator Economy : Myntra has grown its focus on the creator pool to include both non-metro and metro creators to cater to the diverse set of shoppers flanking the platform.
Touching upon the accelerated growth of Myntra’s social commerce charter, Arun Devanathan, Senior Director – Social Commerce, said, “Social Commerce is a fundamentally new approach to online shopping. Being one of the pioneers of this model of content-led shopping, we have closely witnessed the remarkable transformation of the interactions between the consumers, brands and creators. The relationships between these groups have significantly deepened on our platform with the overall traffic on social commerce seeing a 30% uptick and the total time spent nearly tripling within the last year. We will continue to aggressively build adoption for this proposition and are looking forward to unlocking the billion impressions landmark through impactful interventions over the next six months.”
