Myntra.com banks on technology to build sustainable relationships
India’s largest online fashion and lifestyle store, Myntra.com relies heavily on technology to boost its market share. Besides using analytics extensively, the online retailer uses innovations such as virtual dressing rooms to sustain buyer interest. In a
How do you make technology decisions and investments? Technology has always been the backbone of any successful e-commerce venture. At Myntra, we believe that technology can be a game changer in the crowded e-commerce market. We have a dedicated team of highly qualified engineers who build world class products in-house based on market requirements. How have you leveraged IT to help your firm grow? Most of our technology and back-end is built in-house including our new user interface, which went live early July. This interface provides seamless flow of information with minimum clicks. Products are sorted according to categories and preferences, which are easy to access along with an intelligence engine, which recommends popular
We use social networking platforms to make announcements about new products, trends and to give out regular fashion updates, which results in increased awareness and influences purchase decisions”
Co-Founder & Head – Sales & Marketing, Myntra.com
products based on buyer’s preferences. This helps increase overall conversion rates and our ASP (Average selling price). Please brief us about your presence in the social space? On the social front, we were the first among e-commerce firms to initiate a tool called ‘Get Satisfaction’, which integrates all queries and reviews into a single platform and builds a data bank of answered queries for future reference.
Myntra being an online platform has a strong social media presence on Facebook, Google+, Twitter and Pinterest. We use these tools to engage and interact with our audience, collect their feedback and share fashion tips with them.
Over a period of time, the three main focus areas on Facebook are fash- ion content, product/category marketing and topical engagement. On Twitter, we do all three of these and in addition, use the platform for conversing with bloggers and people interested in fashion. We also share a lot more interesting reads on fashion on Twitter and have started using it for contests too. We have a curated daily using the paper.li service. On Pinterest and YouTube, the strategy is clearly to show our understanding of fashion — created as well as curated — and our boards and playlists are a reflection of that.
Engaging and relevant content is the key to building a number of fans. It is important that fans see value in the content that we provide and stay engaged and participate in conversations with us.
We do not do any contests on Facebook, however we use Facebook as a medium and Twitter as a platform
to run contests. One of our contests on Twitter #whatsyourexcuse was in line with our television campaign and saw a lot of participation. We also did contests for our fashion property — Star N Style and #Iwantagift to promote our gift cards during the Diwali season. All these campaigns resulted in increased engagement and awareness and therefore resulted in sales. How have you used the social medium to accelerate your sales and revenues? We primarily use social media as a tool to engage people and don’t drive direct sales from it. However, we do product plugs, fashion stories and give out fash- ion tips on social media platforms that are relevant for the audience and can help them make a purchase decision.
Though engagement is our focus on social platforms, the activities there do contribute to traffic and sales on Myntra, and we keep a track of it. Contributions from these platforms are in the lower single digit figures (percentages) when compared to other channels but they do add up.
We use tools such as Facebook, Twitter, Pinterest, Google + to make announcements about new products, trends and to give out regular fashion updates, which results in increased awareness and in turn influences purchase decisions. How do you intend to leverage the concept of ‘Virtual dressing room’ to boost your sales? With Myntra’s virtual dressing room — ‘Style Studio’, shoppers can mix and match products, save their favorite looks and share them with their circle of friends using social media channels like Facebook and Twitter.
The objective of this feature is to guide the user through their purchase experience and enable them to virtually try before they buy. Style Studio also has a feature where with one click a shopper can purchase the entire look. These features ensure that customers become more confident of their purchase decisions.