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Beauty and fashion e-retailer Myntra has seen the conversion rate on its live commerce product, M-Live, grow by 10x in the last six-seven months since its launch, CEO Nandita Sinha told BusinessLine.
Launched in November 2021, M-Live is one of the three pillars of growth for Myntra and a major focus in the upcoming End Of Reason Sale (EORS), Sinha said. The company plans to stream 1,000 hours of live commerce content across M-Live, Myntra Studio, and Myntra’s social media platforms during the sale.
On the expected scale of the EORS sale, Sinha said, “this year EORS will have almost 11 lakh concurrent users and around 16K orders per minute - which will define the scale for us. We expect over 25 per cent higher traffic from the previous July edition, with a projection of over 3X of BAU (business as usual). We expect 40 per cent of the overall traffic to come from tier-2 and 3 cities and towns.”
The Chief Product and Technology Officer, Raghu Krishnanada said, “the tech team has scaled its systems by 3x-5x in anticipation of the traffic during the upcoming sale, and has been running simulation tests for the sale over the past 2-3 weeks.”
In preparation for the surge in order volumes, Myntra is hiring 27,500 temporary delivery and warehouse staff, including 2,000 women and 300 differently-abled people. The company has also extended its MENSA network (Kirana network) by almost 25 per cent and is now at 21,000 partners. Myntra expects Kirana partners to handle 85 per cent 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.
In terms of Myntra’s growth strategy, the company aims to add around 100 million customers over the next few years, and GenZ is expected to be an important part of that. “Three pillars of growth for us are GenZ, live commerce and beauty & personal care. We will continue to add new customers, power through GenZ offerings and beauty & personal care will remain a big part of our strategy. Further, all of our offerings will come alive on our social commerce and live commerce product,” she added.
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