Social commerce forced Myntra to tweak app-only strategy

Website became necessary for users to share links, says CEO

Social commerce forced Myntra to tweak app-only strategy
Online fashion portal Myntra has redefined its commitment to leveraging technology with the launch of Myntra App Version 2.0. The company, by way of technology, is set to bring in the new year with deeper customer engagement and brand engagement.

“One can expect a series of value-added services from Myntra in the forthcoming year,” said Ananth Narayanan, CEO, Myntra.

Myntra has proposed a three-point theme — personalisation, Big Data-based recommendations and social commerce — that will define fashion in the coming year. “The Myntra v 2.0 is built for the mobile. While on the one hand, it offers personalisation, on the other hand, it engages and connects fashion lovers,” said Shamik Sharma, Chief Technology Officer, Myntra.

The fashion portal recently relaunched its website after having gone app-only earlier this year. Narayanan claims that the strategy to go app-only was to scale the feature of personalisation. However, remaining app-only poses restrictions on its other focus area of social commerce.

Unlike a website, pages on the app do not have web links, because of which they cannot be shared via social media. “By relaunching the website, the web link is activated and this can be shared. This is what the website mainly facilitates,” said Sharma. However, the website still does not provide a wholesome shopping experience. Even though a shared link opens up to Myntra’s mobile website (for a phone that does not have the Myntra app downloaded), one cannot process a purchase on the website. “In order to make a purchase, one would have to ultimately download the app,” said Sharma.

Sharma asserts: “The app offers a better shopping experience, and we want the customers to enjoy that.” The new app features a learning algorithm, which draws trends based on users’ preferences and makes recommendations accordingly.

In its fourth Brand Summit, the company has announced plans to deeply engage with its partner brands. “We want to tell the brand story well on our app,” said Narayanan. The company also launched popular brand Forever 21 on its portal, and it will be available on Myntra from December 10. Having recently launched Marks & Spencers on its portal, the company plans to rope in many more brands to expand its current portfolio of 1,700. About six brands have been lined up for launch, said Narayanan.

Taking inspiration from its parent company Flipkart, Myntra plans to to touch a GMV run rate of $1 billion in 2016 from its current $500 million.

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