Myntra

Stylbiz
Proposition

2
 Industry Analysis
Indian fashion e-commerce market
The analysis enlists the following things to note:
1. Existence of huge substitutes like offline stores with 0 switching cost
2. The threat of new entrants as setup costs are minimal.
3. Consequent huge competition in the sector
4. High power of consumers due to larger number of market players.
5. Low power of suppliers with the emergence of local brands
Suppliers
5%
New
entrants
20%
Buyers
20%

Catalog distribution

Substitutes
25%
2
Competition
30%
 Customer Analysis
Customers do not like bland product Credibility & Trust
descriptions, they desire immersive Visually appealing
and engaging experiences through
Testimonials
stories.

Omnipresent reach

Customers not only expect social 0% 20% 40% 60% 80%

commerce to show them the designs Drivers of purchase decisions
that they like but also how to buy
them for themselves.

Customers also seek inspirational &

aspirational values from the social
commerce platforms.

3

 Segmentation
Segment 1: Sarah(Ms. Inspiration seeker)
Sarah is either Clueless and ready to be inspired or is shopping for a premium
occasion. She is also ready to spend a decent amount to be sure of her decision to
buy a product. She seeks trust through the Studio feature.

Segment 2: John(Mr. know it all)

John exactly knows what he wants to purchase along with the brand and the style
of the item. He is, therefore, less willing to spend time exploring the features
available over the application and seeks the direct buying option through
eCommerce.

4
 Strategy
Under the Myntra Studio feature, we plan on integrating the local and smaller social media
influencers in order to strengthen the social commerce sector of Myntra. Focusing on increasing
the immersive experience of customers :

There will be an added functionality of Fashion based reels along with pictures including but
not limited to try-on-haul videos, styling tips as well as makeover demonstrations with an
extensive list of products in the video per post.

There will be a Myntra chatbot where customers will post their fashion queries and doubts in
order to get a reply back from an influencer within a specific number of days.

5
 Incentivize
Incentivize local
local influencersthrough
influencers throughgrowth
growthopportunities
opportunities

Influencers will be provided with commissions and goodies on the basis of the
customer traffic they successfully bring to Myntra Studio. This will be tracked through
their followers and positive customer reviews on their digital content.

There will be an addition of reviews by top influencers with a higher societal following
on the content of the small influencers to provide credibility and increase the trust
factor.

There will be a 5-star rating system for the Influencers along with an incentive to be the
Influencer of the month on the Myntra platform on the basis of their followers and
monthly ratings.

6
 Transformation
Cross-platform promotion using Instagram, twitch, and other platforms will be one of
the biggest channels as the influencers getting incentives to promote their name on
the studio would rely on their other social media reaches to fulfill their means.

Fashion carnival, an annual Myntra flagship event could garner mass reach in

offline/online context. Influencers from all niches, locals as well as celebs could be
invited to cater to different customers.

Tie-ups with academic institutions like NIFTs in terms of serving as both sponsors and
partners could provide Myntra the springboard access to both, newer, creative designs
as well as a loyal customer base that could promote via trusted word-of-mouth.

 Differentiation
Our differentiation strategy is based on the niche offerings to cater to every kind of consumer
who doesn't feel the need to seek inspiration elsewhere

The Myntra application will boost the convergent industry by being a one-stop destination for
all your lifestyle needs including shopping, gaining knowledge through Myntra studio,
Influencer posts on fashion topics, etc

Augmented reality: By Adding the digital Try-on feature, customers will be able to procure an
idea on the visual appeal of the item before the purchase happens.

8
 Product & Technology
Search features in filters (especially huge lists) would be crucial as
these would enhance convenience to a much greater extent.

Reel feature in Studio enables users to have immersive experiences

that would keep them engaged longer to Myntra.

Collaborating with offline stores to carry out off-store experiences like

try-on, pick and drop off points, book and buy, etc. Augmented reality
would serve as the digital try-on counterpart for the same.

The multiple post feature in Myntra studio could be improved in terms

of cleaner UI work.