Myntra forays into social commerce segent
Fashion e-commerce platform Myntra has announced its foray into social commerce segent. Myntra’s social commerce business includes M-Live, Myntra Studio and Myntra Fashion Superstar. M-Live is a live video streaming and live commerce platform. Myntra Studio provides access to over 20,000 original, inspirational, fashion, beauty, and lifestyle content. Myntra Fashion Superstar is a fully shoppable digital reality show that will feature India’s popular fashion and beauty influencers.
M-Live is basically a live video streaming and live commerce platform with an aim to get real-time engagement between consumers and brands. Influencers and experts will host live video sessions offering fashion trends, knowledge, and observations on fashion trends.
Speaking on the launch, Achint Setia, VP and Business Head, Social Commerce, Myntra said, “With Myntra Fashion Superstar, Myntra Studio, and now M-Live, an immersive live video shopping experience, we are heralding a new age in fashion and beauty, making big strides in the Social Commerce landscape.”
Myntra Studio aims to offer innovative content-led commerce. This platform has already grown by 25X in the past six months itself. Currently, This section engages about 20 per cent of Myntra’s monthly active user base. The company aims to grow it to 50 per cent in the next 3-4 years.
E-commerce market is already big in the country and is growing rapidly with new concepts like direct-to-consumer, social commerce and live commerce. Social commerce and lie commerce are still new in the country but Chinese retailers have already saw growth in tase segments. Let’s see how Indian consumers react to this new concept.