Introducing Myntra
Indian fashion outlet Myntra has stolen the hearts of many with their design, affordable clothing.
The name “Myn” is derived from Sanskrit and it means ‘to think’ or create.’ The company’s slogan reflects this thinking culture: Be Modern! Wear Indian!’ They were founded in 2007 by two alums MBA students – Nishita Jain (CEO) and Kalyan Krishnamurthy — who wanted to provide customers access to high-quality clothes at low prices without compromising on quality.”
In 2011 Flipkart, an e-commerce business from India started acquiring companies that would help them build a presence in the fashion industry. In November 2014, they acquired Myntra for about $330 million.
Source – 1000 Logos
A significant Indian fashion e-commerce business Myntra is based in Bengaluru, Karnataka, India. The business was established in 2007 or 2008 to market customised gifts. Myntra.com was purchased by Flipkart in May 2014.
Myntra introduced an express delivery service on its app in May 2022 to provide a unique experience through a fashion and beauty platform. With this service, customers can expect their orders for items with the “M-express tag” on the listing page to arrive 24-48 hours after they are placed.
Myntra was founded by Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena and offered custom gifts made to order. During its early years, it mostly followed the B2B (business-to-business) model. The website allowed consumers to customise items including T-shirts, mugs, mouse pads, and other items between 2007 and 2010.
Myntra finally entered the market in 2014 with a bang after collecting 310 crores.
Myntra said on May 10th, 2015, that as of May 15th, it will only be accepting orders through its mobile app and would shut down its website. The company had already stopped offering a mobile website in favour of an app. Myntra defended its choice by noting that 70% of its purchases were made on smartphones and that 95% of website traffic came from mobile devices.
The change was met with mixed reviews and led to a 10% drop in sales. Myntra declared in February 2016 that it would resurrect its website after conceding the failure of the “app-only” business model.
Esprit Holdings’ 15 offline stores in India will be managed by Myntra, according to a contract struck in September 2017. Myntra recorded a net loss of 151.20 crores for the 2017–2018 fiscal year.
Myntra modified its logo in January 2021 as a result of a police complaint that the design resembles a naked lady. A woman named Naaz Patel, who directs the Avesta Foundation NGO, submitted the lawsuit.
Quick Stats
| CEO | Nandita Sinha |
| CMO | Harish Narayanan |
| Area Served | India |
| Industry | E-Commerce |
| Market Revenue | $8-10 billion |
| Vision | To provide “a hassle-free and enjoyable shopping experience to shoppers across the country with the widest range of brands and products on its portal.” |
| Tagline | Ramp it up |
Marketing Strategy of Myntra
As we got an in-detailed knowledge about the company story and growth let’s proceed towards the marketing strategy of Myntra the first factor that we would discuss is myntra’s STP Analysis.
Segmentation, Targeting, and Positioning
Segmentation:
Myntra focuses on Fashion-conscious customers who believe in shopping from home irrespective of age and gender.
Target Market:
The target market set by this brand is Fashion-conscious, medium-income, young online shoppers looking for the best deals and good quality products.
Positioning:
Myntra is an e-commerce website that focuses on being Vibrant fashion stores at affordable rates all over India.
Marketing Campaigns
Myntra uses every available media to promote its online marketplace in terms of advertisements. Myntra tries everything, whether it’s a television commercial with well-known celebrities or newspaper ads for a forthcoming sale.
In June 2022, Myntra launched a multichannel marketing effort to interact with 250 million consumers nationwide.
Hrithik Roshan, Kiara Advani, and Siddhant Chaturvedi are just a few of the Bollywood celebs and influencers that plan to generate buzz about the most anticipated fashion carnival among their enormous fan bases and viewers.
For the EORS commercial videos, Myntra used a conceptual strategy that was merged with a lighthearted medley to represent the importance and nature of the enjoyable occasion. The company also released two master films featuring Hrithik Roshan and Kiara Advani and Siddhant Chaturvedi.
With a 15-second edit with Hrithik and Kiara and another with Hrithik and Siddhant, the movies will also pair up famous people for the first time.
The clothing will change throughout the flicks, with Kiara representing western, casual, and ethnic attire, Siddhant sporting super-comfy casual wear, and Hrithik sporting trendy and hip looks.
In addition to activating the company’s own social media channels, M-Studio and M-Live, EORS-16 will receive considerable promotion across TV and digital media platforms including Google, Facebook, and YouTube.
Prior to the 15th edition of its signature End of Reason Sale, or EORS, which will take place between December 18 and 23, Myntra has started a marketing campaign. “Ab Har Koi Reason Chalega!” is the catchphrase for the advertising campaign.
The phrase aims to capture the magnitude of the event while enjoining shoppers to make purchases for only the silliest of motives.
A new group of celebrity ambassadors for Myntra, including Hrithik, Dulquer, Simbu, Vijay, Kiara, Disha, and Samantha, will debut 15-second commercials.
3. #BeUnskippable Campaign
Myntra announced the launch of #BeUnskippable, a new brand initiative that emphasises its position as a go-to resource for fashion for its clients. The positioning is based on Myntra serving as a channel for consumers to make a statement through clothing.
In order to compete in a highly competitive environment where there are only a few seconds to get noticed or risk being “skipped,” it persuades everyone to “Style up, Move up.”
This ad campaign titled “UnSkippable” was launched in Tamil, Telugu, Kannada, and Hindi.
Social Media Marketing
Myntra is active on Social Media like Instagram, LinkedIn, Facebook, Twitter and Youtube.
- Instagram – 3.1M
- Facebook – 5.5M
- LinkedIn – 1M
- Twitter – 687.9K
- Youtube – 13.2L
Myntra is most followed and active on Facebook and then on Instagram.
Along with a few posts about the unveiling of a new product, the posts primarily contain promotional and instructive content.
SEO Strategies
Source – UberSuggest
It is said as per SEO Standards, Organic keywords less than 500 are poor, 1000+ are good and 10,000+ are amazing. As seen Myntra has 4.4M organic keywords which are extraordinary. Another important element to be considered in SEO Strategy is monthly traffic and Myntra has 287.1M which is eye-popping.
This shows how excellent Myntra is in its SEO Strategy. If you want to learn basics and tricks about SEO then SEO Certification Course will for sure help you.
Influencer Marketing
Myntra works with influencers to persuade people to make purchases from them. On social media platforms, there are many content producers, celebrities, fashion bloggers, and bloggers. Their committed fan base follows the advice of influencers, and they provide material for their specialised audience. Influencers dress in Myntra clothing to create outfits that advertise the company.
Myntra works with micro-influencers who have between 10,000 and 50,000 Instagram followers in addition to influencers with millions of followers. Such micro-influencers Instagram postings are shared on Myntra’s page.
Recently, Myntra debuted a digital reality programme for influencers. Myntra Fashion Superstar is the name of the programme that seeks fashion influencers on its online shopping site.
Celebrity judges for the show were Manish Malhotra, Sonakshi Sinha, and Sushmita Sen. It was a programme that became well-liked as a result of its many approaches to finding influencers. Influencers were given a platform to showcase their personal style and make a fashion statement.
E-Commerce Strategy
Being an e-commerce Fashion brand, Myntra tends to have an amazing e-commerce strategy. They have an e-commerce portal on their official website through which you can order anything and enjoy your Online shopping with great discounts and deals.
Mobile Apps
Myntra also has a mobile app which offers the same features as its website you can order anything anytime from their mobile app and enjoy online shopping from anywhere.
Myntra has 4.2 ratings and 10Cr+ downloads on Google Play Store. This shows how wide their audience base is. This also shows that their customers are really satisfied with the services this app provides.
Content Marketing Strategies
As seen Myntra has an incredible online presence along with its social media there are multiple blogs and articles published by Myntra on its website to increase the knowledge of its audience in fashion and lifestyle. There are many big fashion magazines that also post and write blogs and articles on their website about Myntra.
This brings us to the conclusion of an incredible marketing strategy of Myntra. Let’s sum up what we learned in this case study.
What’s Unique in the Marketing Strategy of Myntra?
Plenty can be learned from the marketing strategy of Myntra. Customers adore Myntra because it provides them with access to local and foreign companies at their front doors. Their marketing positioning suggests that everyone can wear fashion.
Myntra makes the most of digital marketing. As we saw above, it uses a wide range of advertisements and campaigns, as well as email marketing, social media marketing, influencer marketing, SEO, and SEM to draw clients. It also offers generous discounts.
As is well known, pandemics that impacted every industry caused a significant shift in digital marketing. According to data on digital marketing, 60% of people worldwide utilise the internet.
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