Myntra forays into social commerce, unveils M-Live to build interactive shopping experience
Myntra aims to produce close to 1,000 hours of live video content per month for deeper consumer engagement, contributing exponentially to the creator economy phenomenon.
- Nov 23, 2021,
- Updated Nov 23, 2021 4:45 PM IST
Myntra today announced its foray into social commerce to cater to the rapidly evolving content consumption patterns and shopping preferences of consumers.
During the launch, Myntra also unveiled M-Live, a video streaming and live commerce platform. With M-Live, the company aims to bring a first-of-its-kind, interactive, and real-time, live shopping experience to millions of shoppers in the country.
Under this charter, Myntra will target fashion and social media savvy young men and women who are looking to have access to fashion advisory and in-demand trends.
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, with our path-breaking tech-pivoted solutions.”
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, according to industry reports.
Also Read: Did Myntra's falling revenue lead to management rejig?
Also Read: Ex-Myntra CEO Ananth Narayanan's Mensa Brands is India’s first e-commerce rollup unicorn
Myntra today announced its foray into social commerce to cater to the rapidly evolving content consumption patterns and shopping preferences of consumers.
During the launch, Myntra also unveiled M-Live, a video streaming and live commerce platform. With M-Live, the company aims to bring a first-of-its-kind, interactive, and real-time, live shopping experience to millions of shoppers in the country.
Under this charter, Myntra will target fashion and social media savvy young men and women who are looking to have access to fashion advisory and in-demand trends.
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, with our path-breaking tech-pivoted solutions.”
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, according to industry reports.
Also Read: Did Myntra's falling revenue lead to management rejig?
Also Read: Ex-Myntra CEO Ananth Narayanan's Mensa Brands is India’s first e-commerce rollup unicorn