Fashion e-commerce platform Myntra announced on Tuesday its move into large-scale social commerce with the launch of M-Live to address rapidly evolving content consumption patterns and consumer shopping preferences. According to the statement, M-Live will bring the first interactive, real-time live shopping experience to the fingertips of millions of shoppers in the country.
Myntra targets young fashion and social media savvy men and women who want access to best-in-class fashion advisories and high-demand trends. Myntra’s social commerce business has three different proposals to add immense complex value to consumers, creators, brands M-Live, Myntra Studio and Myntra Fashion Superstar. With its unique live video streaming and live commerce platform, Myntra paves the way for a future of shopping that resonates with today’s social media savvy fashion-conscious generation.
M-Live facilitates real-time engagement between consumers and brands by allowing influencers and professionals to host live video sessions of their curated products and styling concepts with the Myntra app. The purpose is that. Participating in live sessions with multiple simultaneous users gives users the opportunity to shop as a community, benefit from community knowledge, observations, questions and comments, and more confidence backed by social validation. Allows you to make shopping decisions.
Myntra Studio provides users with access to over 20,000 original, inspirational and shoppable fashion, beauty and lifestyle content assets. Myntra Studio helped establish Myntra as an innovative content-driven commerce frontrunner. The platform has grown 25 times in the last 6 months. Among Myntra’s major brands, Myntra-Studio has a 2-3x community, showing 3-4x higher engagement compared to other similar influencer-led platforms. The in-house built platform has succeeded in attracting and inducing shopping among young and premium shoppers from the entire metro, as well as from Tier II towns and beyond.
Myntra Fashion Superstar is a fully shoppable digital reality show that continues to generate some of India’s most popular fashion and beauty influencers. Currently, Myntra Studio accounts for about 20% of Myntra’s monthly active user base, and Myntra predicts that it will grow to 50% in the next three to four years as it expands its social commerce charter.
“With Myntra Fashion Superstar, Myntra Studio, and now the immersive live video shopping experience M-Live, we are ushering in a new era of fashion and beauty and making great strides in the world of social commerce.” Told. Achint Setia, vice president and business head of Myntra (social commerce), said social commerce is a US $ 1.5-2 billion GMV (total commercial value) market. India According to industry reports, fashion and cosmetology currently hold more than 50-60% of the market share and are worth US $ 16-20 billion over five years.
Myntra has announced “M-Live” to help influencers show off their styling talent
Source link Myntra has announced “M-Live” to help influencers show off their styling talent