Myntra expects 1.8x increase in traffic at its next Big Fashion Festival sale, will focus more on regional and influencer marketing to engage with consumers
Myntrais convinced that this year’s edition of the Big Fashion Festival will be the largest ever in terms of demand and the number of people it can reach.
- We talk to
Amar Nagaram, CEO, Myntra who tells us about his expectations for the next holiday seasonand what are a few things that will help them increase traffic 1.8 times over the previous edition.
We are only days away from Dussehra and Durga Puja which is a major festival in much of India and Myntra is gearing up for what he believes to be his biggest fashion festival yet.
The platform revealed that it expects nearly 5.5 million unique shoppers to shop at its next Big Fashion Festival, which is a 1.8x increase in traffic from the previous edition. The pandemic has made more and more people comfortable with shopping online, a trend that has seen many new users join us as new users. Myntra also expects approximately 1.1 million new unique customers to purchase on its platform during the holiday season this year. In fact, it is not the big cities that are contributing to the demand, the small towns are also buying more and more from the platform. In fact, Myntra expects almost 40% of the contribution to come from level 2-3 markets. He expects demand to increase overall, to 4X over BAU and 1.6X over the past holiday season.
“We have had a great dynamic since Ganesh Chaturthi. There is a lot of interest in fashion shopping and there are two reasons for this. First, the vaccination rate has increased in the country, so people feel comfortable going out. The offices are gradually opening up. And the holiday season has always been important to fashion. We have seen a visible shift to online fashion. We discovered many new markets due to the pandemic and this new user segment that we had integrated has not left us. Consumers, even in Tier II and III cities, are gaining confidence. People have now experimented and are comfortable with online shopping. Due to all of these factors, we are confident it will be a very big season for us, ”said Amar Nagaram, CEO of Myntra. Due to the type of demand it sees from small towns, the platform is also pivoting its marketing and spending more regionally. It’s not just about bringing in regional stars to reach these new consumers, it also offers more regional content, regional selection as well as customer support. That said, the platform hasn’t really increased its marketing spend, but is smartly using its budgets to do more regional and targeted marketing. “Until a few years ago, we were doing a big campaign for the whole country. Now we have one campaign per region, so the net marketing investment is still the same for us, but the way we approach marketing has changed dramatically. We also devote a substantial portion of our budget to influencers. In fact, we have over 2000 influencers creating content for us in all languages and regions. The relationship between a brand and a consumer is no longer a two-person relationship, it is rather a three-way relationship with the influencer playing a very critical role. Therefore, it is not only the influencer network that we are building, we are also building Myntra Studio which is a platform to present the fashion focused content created by influencers on our own platform, ”a he explained.
Nagaram also expects the platform to register 15,000 orders per minute during the peak of the season and also increase its technological capabilities. It increased the number of brands on the platform by 40% compared to the previous edition and also expanded its kirana network by 30%, bringing the number of stores to 25,000 stores. Over 70% of festive deliveries across the country are expected to be made by its
Myntra has also strengthened its supply chain network across the country, with the addition of a distribution center (FC), 3 parent hubs, 12 satellite hubs and 171 distribution centers to dramatically improve capacity for higher storage volumes and optimize last mile deliveries. further away.