Fashion e-commerce platform Myntra on Tuesday announced its foray into social commerce in a big way with the launch of M-Live to meet the rapidly evolving content consumption patterns and shopping preferences of consumers. According to a statement, m-Live brings a first of its kind, interactive and real-time live shopping experience at the fingertips of millions of shoppers in the country.
Myntra will target fashion and social media savvy young men and women who want to access best-in-class fashion advisory and in-demand trends. Myntra’s social commerce business has three distinct propositions that add immense overall value to consumers, manufacturers and brands M-Live, Myntra Studio and Myntra Fashion Superstar. With M-Live, a proprietary live video streaming and live commerce platform, Myntra is leading the way in the future of shopping that resonates with today’s social media savvy, fashion conscious generation.
M-Live aims to facilitate real-time engagement between consumers and brands by allowing influencers and experts to host live video sessions of product and styling concepts created by them on the Myntra app, giving viewers instant access be able to shop With multiple concurrent users joining live sessions, it also gives users the opportunity to shop as a community and benefit from the community’s knowledge, comments, questions, and comments to make shopping more confidently supported by social verification. Enables decisions.
Myntra Studio gives users access to over 20,000 original, inspirational and purchasable fashion, beauty and lifestyle content at a large scale. Myntra Studio has helped establish Myntra as a leader in innovative content-based commerce. The platform has grown 25 times in the last six months alone. Some of Myntra’s leading brands have 2-3x larger communities on Myntra-Studio and see 3-4X more engagement than other similar influencer-led platforms. The in-house built platform has managed to attract and drive purchases among young and premium buyers from metros as well as in Tier-II cities and beyond.
Myntra Fashion Superstar is a fully purchasable digital reality show that continues to churn out some of India’s most popular fashion and beauty influencers. Currently, Myntra Studio engages around 20 percent of Myntra’s monthly active user base and Myntra expects this to grow to 50 percent in the next 3-4 years as it expands its social commerce charter.
“With Myntra Fashion Superstar, Myntra Studio and now M-Live, an immersive live video shopping experience, we are ushering in a new era in fashion and beauty, making great strides in the social commerce landscape, our pioneers Solutions with technology,” said Achint Setia, Vice President and Business Head (Social Commerce), Myntra. Social commerce, which is a USD 1.5-2 billion GMV (Gross Merchant Value) market. India According to industry reports, currently, will be worth USD 16-20 billion in five years, with fashion and beauty accounting for more than 50-60 percent of the lion’s share of this market.
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