Myntra taps India’s growing social commerce market | WARC | The Feed
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Myntra taps India’s growing social commerce market
Last year, online fashion retailer Myntra diversified its social commerce offering with the launch of its live shopping platform, M-Live, and has since seen significant increases in traffic and engagement.
Live-streaming is already a $7bn market in India and forecast to grow to $84bn by 2030, helped by increased internet and smartphone penetration, which is making digital opportunities available beyond top-tier cities.
“Social commerce is an entry point for e-commerce for non-metro users,” Arun Devanathan, a senior director at Myntra, told Afaqs!
A structured approach
- Initially, M-Live was focused on building conviction amongst the various stakeholders – brands, creators and shoppers.
- A second step was to scale things up: traffic has grown 5x while engagement has doubled.
- Myntra is working to develop deep partnerships in the creator ecosystem that it can leverage for M-Live, with its recent Creator Fest an example of this approach.
- Static content works well for fashion brands, while live video content works best for beauty products.
“We will be getting a diverse set of creators on board. We will significantly increase the categories of brands and give them access to our creators” – Arun Devanathan, senior director, social commerce at Myntra.
Sourced from Afaqs!
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