24 November 2021, Mumbai:
Ecommerce platform Myntra launched social commerce at scale, including live shopping, to cater to the rapidly evolving content consumption patterns and shopping preferences of consumers.
Myntra aims to churn out close to 1,000 hours of live video content per month for deeper consumer engagement, contributing to the creator economy phenomenon. It believes social commerce is likely to engage about 50% of its monthly active users in the next 3-4 years.
Myntra said it is looking to transform the way consumers shop by bridging the gap between inspiration and commerce while bringing both under one single platform. Under this charter, it will target fashion and social media savvy young men and women who are looking to have access to the best-in-class fashion advisory and in-demand trends.
Myntra said social platforms are considered to drive about 70% of purchase decisions for fashion-forward consumers with fashion and beauty being the most popular categories in the Social Commerce realm. It believes that as the future of shopping, its Social Commerce charter is likely to play an important role in defining the way its customers' shop.
“Built for today’s consumers who are gradually progressing from text-based or catalog-based shopping to influencer-guided interactive experiences.
(The news article has not been edited by DFU Publications staff)
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