Indian e-retailer Myntra forays into social commerce with M-Live

With the launch of its Social Commerce charter, Myntra will target young men and women who are looking to have access to fashion advisory and in-demand trends, the company said in a media release.

Social platforms are considered to drive about 70 per cent of purchase decisions for fashion-forward consumers with fashion and beauty being the most popular categories in the social commerce realm as per industry reports.

Myntra’s Social Commerce Business has three distinct propositions that add composite value to consumers, creators and brands alike – M-Live, Myntra Studio and Myntra Fashion Superstar.

M-Live, its proprietary live video streaming and live commerce platform, aims to facilitate a real-time engagement between consumers and brands by allowing influencers and experts to host live video sessions of product and styling concepts curated by them, on the Myntra app, enabling viewers to shop instantly. The core benefit is the users’ ability to get interactive descriptions of products independently curated by experts they can trust and identify with while getting instant advice on various aspects like styling, fitment, product quality and material. It also gives users the opportunity to shop as a community.

Myntra Studio is a personalised content destination that provides users with access to 20,000+ original, inspirational and shoppable fashion, beauty and lifestyle content assets at scale. The in-house built platform has managed to attract and induce shopping among the younger and premium shoppers from across the Metros as well as Tier 2 towns and beyond.

Myntra Fashion Superstar is a fully shoppable digital reality show that continues to churn out some of India’s popular fashion and beauty influencers. Now in its Season 3, this show has enabled Myntra’s vision of empowering the creator economy.

Achint Setia, VP and business head, Social Commerce, Myntra said, “At the heart of our social commerce initiative, is our desire to offer unparalleled content-led shopping formats to our customers, while harnessing the power of the creator ecosystem and technology. The charter also offers brands an avenue to build salience with a highly engaged fashion-forward customer base, for new launches, collaborations, and showcase hero products along with a host of other benefits.”

Social commerce, which is a $1.5 billion to $2 billion GMV market in India today, will be worth $16 billion to $20 billion in just five years, with fashion and beauty commanding the lion’s share of this market at over 50-60 per cent, as per industry reports.

Fibre2Fashion News Desk (KD)