com is into the e-commerce concern. It was started by a group of IIM and IIT pupils in 2007.Its central offices is at Bangalore. It is an on-line retail merchant of manner and lifestyle merchandises in India.
It is the largest on-line manner shop in India with 30 % market portion It began its operations in 2007 in the Business to Business ( B2B ) section with the on-demand personalisation of gifts, which included vesture, footwear and cosmetics. In 2010, Myntra shifted its scheme to a B2C ( Business to Customer ) house, spread outing its catalogue to manner and lifestyle merchandises.
Myntra is ranked among the top 10 e-commerce companies in India. In the last 3 old ages, Myntra has become the most popular finish for individualized merchandises in the state.
Myntra has tie ups with top manner and lifestyle trade names in India, such as Nike, Reebok, Puma, Adidas, Lee, Converse, Lotto, FIFA, John Miller, Indigo Nation etc. Myntra presently offers merchandises from more than 200 Indian and International trade names.
In May 2014, Myntra merged with another Indian e-commerce elephantine Flipkart to go a formidable force against the competition from Amazon, an international online concern house.In order to defy the competition and pull new clients, an e-commerce company has to establish different advanced selling techniques.
In 2011, Myntra launched its first and rather fashionable Television commercial which was both before and in front of its rivals. In footings of stigmatization, Myntra has better communicating and is more focussed in positioning than any other online shop. All their ad runs, famous person manner tips and aggregations inspired from blockbuster films set up their on-line manner shop position.When we place an order, we will acquire confirmation message and mail.
Myntra has its ain transportation and installation to track orders. Merchandises are trade name new and of top quality. They deliver merchandises in certain bundles. If the clients are non satisfied with the merchandise, they can return it free of cost and the money will be credited to the customer’s history.
Myntra provides accurate measuring instructions for their clients which makes it easier for them to take appropriate size. The merchandise get delivered in 3-4 yearss, In add-on to this Myntra provides up to 55 % price reduction on certain trade names with the aid of vouchers to pull clients. It besides provides hard currency on bringing installation which most of its rivals lack. Other services provided by Myntra includes EMI installation and 30 twenty-four hours return policy.
Myntra launches major selling runs every twelvemonth. In February 2012, Myntra launched an OOH ( out of place ) run across 2 metropoliss to construct trade name consciousness and promote online shopping. Myntra has successfully used societal medias like Facebook and Twitter to widen its client base.The web site of Myntra is designed in a colorful and attractive mode.
When we open the web site of Myntra, Special offers and new launches of that twenty-four hours welcomes us. Webmaster is responsible for the proviso of web services to the administration. It includes puting up and keeping the waiter package and the place page for the administration.Myntra.
com day-to-day attracts over 600000 visitants and procedures 8000 orders mundane, presenting to more than 10000 station codifications. In the last fiscal twelvemonth, Myntra earned grosss of Rs 4 billion. The company expects that to increase to some Rs 9 billion in the current twelvemonth.Myntra runs on an stock list theoretical account.
It spouses with trade names such as Timberland and Lee to purchase stock, every bit good as bring forthing its ain line. It has the capacity to hive away 1.5 Million units at 2 warehouses in Bangalore and Delhi. It is from these warehouses Myntra looks after everything from bringing to payments.
Its planning to put up another 1 in Mumbai with the same capacity.To get the better of the job of hapless substructure in India, Myntra invested in bringing for 3 years.400 people works for its in-house bringing service in top 20 metropoliss in India. It besides has tie ups with 10 messenger services, incorporating their systems, supervising packages and step ining when necessary.
Payment by hard currency on bringing is used in more than 70 % of orders.at foremost, there were jobs with hard currency lost in theodolite or clients declining to pay.but now the bringing people carry manus held card machines.In instance of engineering, most of the people in India usage nomadic devices to entree cyberspace and Myntra.
com is presently developing apps for smartphones and tablets. Its engineering allows on-line retail to be possible by hosting the web site in which the client can shop through the online catalogue, take what he wants to purchase, do on-line payment and have the goods at his doorsill.In 2012, Myntra developed an in-house application called ‘Style studio’ , a practical dressing room aimed at doing on-line shopping merriment and interactive for shoppers. Manner is a great market in India.
Started off as a B2B theoretical account for personalisation of gifts points in 2007, today Myntra is the primary B2C online finish for manner and lifestyle merchandises in India. Myntra now holds a broad client base. Myntra has launched many advanced techniques to capture Indian manner market. It includes Television commercials, price reduction coupons,30 twenty-four hours return, hard currency back installation etc.
Product purchase from Myntra is really easy and less clip devouring procedure. Its merchandises are 100 % original and reliable. It helps pull more clients towards Myntra.To work efficaciously within the hapless substructure installations of India, Myntra has developed a extremely effectual bringing system and ensured the timely bringing of merchandises to its clients.
It has 2 big warehouses to hive away merchandises ready for sale in Bangalore and Delhi.Payment method of hard currency on bringing is the chief high spot of Myntra. There are other manners of payment available like recognition card and debit card payment.Moreover, it has launched a nomadic app with android platform to do purchase and payment easy.
Above all, late Myntra has joined custodies with Flipkart which is another vitamin E commercialism giant in India. This helps both the houses to vie together against Amazon, an international vitamin E commercialism giant. It besides helps both Myntra and Flipkart to increase their market portion when joined together.In a nutshell, all these above factors contributes to the competitory advantage of Myntra in the Indian market.
Cite this E-commerce Business Report – Myntra.com
E-commerce Business Report – Myntra.com. (2017, Jul 23). Retrieved from https://graduateway.com/e-commerce-business-report-myntra-com/