Live Commerce By Myntra Is A Big Hit! Conversions Swell By 10-Times In Last 180 Days (What’s The Secret?)
Myntra’s CEO Nandita Sinha has said that the M-Live platform is going to play a crucial role in upcoming End Of Reason Sale
The beauty and fashion e-commerce Myntra has seen the conversion rate on its live commerce product, M-Live, grow by 10 times in the last six to seven months since its launch, CEO Nandita Sinha.
M-Live is going to be a source of major growth
M-Live was launched in November 2021, and it is expected to be a source of major growth for Myntra and currently, there is a major focus in the upcoming End Of Reason Sale (EORS), said Sinha. During the sale, the company is planning to stream over 1,000 hours of live commerce content on M-Live, Myntra Studio, and Myntra’s social media platforms.
On the expected scale of the EORS sale, Sinha said that this year EORS will have approximately 11 lakh concurrent users and almost 16K orders per minute – which will define the scale for the company. The company is expecting at least 25% more traffic from the last July edition, with a projection of over 3 times of BAU (business as usual). The company is expecting 40% of the overall traffic to come from tier-2 and 3 cities as well as towns.
The Chief Product and Technology Officer, Raghu Krishnanada said that the tech team has scaled its systems by 3 to 5 times in preparation of the traffic during the upcoming sale, and has been running simulation tests for the sale over the past two to three weeks.
In preparation for a drastic increase in order sizes, Myntra is hiring 27,500 temporary delivery and warehouse staff, including 2,000 women and 300 differently-abled people. The company has also increased its MENSA network (Kirana network) by approximately 25% and now has 21,000 partners. Myntra expects Kirana partners to handle at least 85% of the order deliveries during the sale period.
“With COVID behind us, there is a lot of positive sentiment among people in terms of occasions and, therefore, their fashion needs are increasing. EORS is awaited by the whole ecosystem and also gives us an opportunity to be an employment enabler across the board,” said Sinha.
When talking about Myntra’s development strategy, the company’s goal is to add around 100 million customers in the next couple of years, and Gen Zs are expected to be an important part of this strategy. Infact, Sinha has stated that Gen Zs are going to be the three pillars of growth for the university.