Myntra will soon re-launch the Ecommerce Website!

Myntra realizes its wrong move of being mobile app only platform and importance of e-commerce website.

It might have sounded correction decision to Myntra for their Digital Marketing strategy (one of the largest online fashion retailer) that by mobile application development and strictly driving their business on it would set apart them from their existing competitors. Discarding the hidden benefits of the e-commerce website is now taking out their pennies. Their decision might be implemented to leverage the statistics of mobile application development that is shining with the growth of Indian economy, or to say, the majority of the online shopping by 2020 will be done via mobile applications and devices.

Myntra website relaunch

However, one thing that might not be realized by Myntra for digital marketing was that that still large proportion of the population utilizes their office desktop (e-commerce websites) for online retailing (when they took the decision to go for app-only one year ago).

Myntra is popular among people because of the quality and appealing products offering along with the simple and attractive user-interface of Myntra’s mobile application. Many consider that it was the demand of Myntra’s loyal customers to have their web presence through an e-commerce website. In addition, it may be according to Narayana (Joined Myntra last October) as he said that, “It is part of the Myntra culture to try bold things. We tried to do this last year because we thought we can offer consumers a much better experience on the mobile. While that is still true that the mobile experience is far superior to the web, we have recognized that some consumers still want the option to shop on the web; we are humble enough to listen to our customers.”

Nevertheless, chief reason for such a move to improve digital marketing strategy is the decrease in sales and increase in losses. Have a look at some stats:

Myntra target of annualized gross sales by March 2017 is $1 billion.
Presently, Myntra has reached its annualized gross sales to $500-600 million.
However, point to notice is that Gross sales exclude discounts and product returns.
Note: Myntra’s actual annual revenue was Rs.758 crore (around $125 million) at the year-end (31 March 2015). Myntra’s annual gross sales in the last year were $350-400 million.
According to Registrar of Companies database, Myntra’s annual loss tripled last year to $187 million.

Still best part that Myntra does is that, though Myntra experiments more in compare to another; Myntra is also very quick in rectifying the outcomes of the experiments. Myntra comprehended the consumer behavior of the digital audience. Digital360, SEO Company in Noida senses that Myntra recognized the importance of e-commerce website platform for its digital marketing strategy like:

The Indian audience is utilizing e-commerce websites for online shopping due to large screen and flexibility of time in office hours & home.
Moreover, e-commerce website offers simple yet appealing website user interface for a large number of products especially when a user wants to enlarge the product image.
Any e-commerce business whose goal is to reach sky cannot take a risk to avoid the multi-channel user experience.

Such benefits coincide with new product categories (Home Furniture & Jewelry) that will be launched along with the Myntra’s e-commerce website re-launch. When such a large corporate can realize and at the same rectifies its user experience by re-launching the e-commerce website then it applies same to all, even for small and medium scale businesses. Digital360 Digital Marketing Company in Delhi NCR cheers Myntra for moving from mobile application only to multi-channel platform including e-commerce website is the great move to revive the business and digital marketing strategy.