In our previous article, we learned in detail about the marketing strategy of Suning – the third-largest Chinese e-commerce site. In this article, we are going to elaborate on the marketing strategy of Myntra – India’s leading E-commerce fashion brand.
On-demand customised gifts were available on Myntra. During its early years, it mostly followed the B2B (business-to-business) model. It is now the top fashion eCommerce website in India.
Marketing is an essential aspect of a company which might either help or hinder it. Marketing has migrated to the digital world along with users from all corners of the world. Check out Karan Shah, the CEO and founder of IIDE Free MasterClass on Digital Marketing 101 if you’re interested in modern digital marketing.
In this article, we’ll go over every aspect of marketing strategy of Myntra. Let’s start by studying the company’s history, target market, and online presence before we dive in deep.
A significant Indian fashion e-commerce business Myntra is based in Bengaluru, Karnataka, India. The business was established in 2007 or 2008 to market customized gifts. Myntra 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 customize 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 would only be accepting orders through its mobile app and would shut down its website. The company had already stopped offering a mobile website in favor 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.
|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|
Current News about the brand
- Myntra plans makeover of private label strategy, 50 jobs to be hit
- Mynta’s premium ethnic wear business growth doubles; metros and tier-1 cities emerge as major contributors.
- Ease of ordering
- Unique choices offered
Interest & Hobbies
- Listening Music
- Size issue
- Too flashy clothes
- Not comfy clothing
Social Media Presence
Marketing Strategy of Myntra
As we get a detailed knowledge about the company story and growth let’s proceed toward the marketing strategy of Myntra the first factor that we will 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 creating Vibrant fashion stores at affordable rates all over India.
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.
- ‘Ab har koi reason chalega’
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 who 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, 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.
2. ‘End of reason sale’
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 emphasizes 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.
Digital Marketing Strategies
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.
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.
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 specialized 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-influencer’s Instagram postings are shared on Myntra’s page.
Recently, Myntra debuted a digital reality program for influencers. Myntra Fashion Superstar is the name of the program 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 program 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.
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.
Myntra also has a mobile app that 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.
How does Myntra use Digital Marketing in its strategy?
- Content marketing: Myntra creates and shares high-quality content on its website, blog, and social media channels. This content covers a variety of topics
- Social media marketing: Myntra has a strong presence on social media platforms such as Facebook, Instagram, and Twitter.
- Email marketing: Myntra collects email addresses from its customers and uses them to send out promotional emails.
- Paid advertising: Myntra uses paid advertising on search engines, social media, and other websites.
- Mobile marketing: Myntra has a mobile app that allows customers to shop on the go.
3 examples of digital marketing done by Myntra
- End of Reason Sale: Myntra’s End of Reason Sale is one of its most popular marketing campaigns. Myntra promotes the sale heavily on its website, social media, and email marketing channels.
- Be Unskippable: Myntra’s Be Unskippable campaign was launched in 2018 to promote diversity and inclusion in the fashion industry. Myntra promoted the campaign through content marketing, social media marketing, and paid advertising.
- Myntra Fashion Superstar: Myntra Fashion Superstar is a reality TV show that was launched in 2020 to find the next big fashion influencer in India. Myntra promotes the show through its website and social media.
Top 5 Competitors of Myntra
- Flipkart is an Indian e-commerce company that was founded in 2007. Flipkart is one of the largest e-commerce companies in India, and it offers a wide range of products, including fashion, electronics, home & kitchen, and more.
- Amazon: It is one of the largest e-commerce companies in the world, and it offers a wide range of products, including fashion, electronics, home & kitchen, and more.
- Ajio is an Indian e-commerce company that was founded in 2016. Ajio is a fashion-focused e-commerce company that offers a wide range of clothing, footwear, and accessories for men, women, and children.
- ShopClues: It is a marketplace that allows sellers to list their products for sale. ShopClues offers a wide range of products, including fashion, electronics, home & kitchen, and more.
- Snapdeal is an Indian e-commerce company that was founded in 2010. Snapdeal is a marketplace that allows sellers to list their products for sale. Snapdeal is known for its competitive prices and its large selection of products.
Example of a Failed Campaign Or Backlash from Viewers
Campaign: In November 2022, Myntra tweeted a meme that took a dig at seasoned cricketer KL Rahul. While the cricketer would have expected to see the wrath of the public coming his way after his unfortunate performance, brands such as Myntra also tried to mirror the public sentiment.
Issue: The issue with Myntra’s tweet was that it was insensitive to the cricketer’s recent poor performance and the public’s anger towards him. The tweet also came across as being disrespectful to the cricketer
Backlash: Myntra’s tweet was met with a lot of backlash from viewers who felt that it was insensitive and disrespectful. Many people called out Myntra for trying to capitalize on Rahul’s misfortune and for being insensitive to his fans.
What Myntra did: Myntra quickly apologized for the tweet and took it down. The company also said that it would be more careful in the future about the kind of content that it shares on social media.
Suggest 1 or 2 Better Campaigns
A campaign that focuses on sustainability. This campaign could feature recycled clothing, ethical brands, and tips for sustainable shopping.
Myntra Plus: Myntra can launch a premium membership program called Myntra Plus. Myntra Plus members would receive exclusive benefits.
This brings us to the conclusion of an incredible marketing strategy of Myntra. Let’s sum up what we learned in this case study.
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 utilize the internet. Due to the pandemic and the shift of many companies online, it increased by 20% over the last two years. The image of a reputable business is crucial. The success of a company’s brand image depends on its campaign techniques. Designing successful campaigns is possible through digital marketing, and any problems can be quickly fixed.
Knowing more about this expanding industry is crucial given the growing significance of digital marketing. Visit IIDE’s 4-Month Digital Marketing Course and 11-Month Digital Marketing Course for more information if you want to learn more and expand your skills. We hope that our blog about the marketing strategy of Myntra has provided you with valuable insight into the company’s marketing tactics. If you enjoy such in-depth research of businesses, such as the marketing strategy of Myntra, check out our IIDE Knowledge portal for more fascinating case studies.
If you want to have a look at the case study of the Reliance brand, here you go. Please share your ideas on this case study on the marketing strategy of Myntra in the comments area after reading this. Thank you for your time.