Myntra reaps benefits of marketplace model, 20% of total sales in just 1 month

The marketplace model of business has proved beneficial for the major ecommerce players in the Indian market. While Snapdeal and Amazon operate on a purely marketplace model, Flipkart moved to a hybrid marketplace model last year, with associations with other retailers while operating its own parent retailer, WS Retail.

Following Premji’s investment into the company earlier this year, Myntra also forayed into the marketplace in April this year. Associations with more than 100 local retailers and boutique brands from Delhi-NCR, Mumbai, Bangalore and Surat have resulted in 20% of Myntra’s revenues being driven by the marketplace model in just one month.

Recognising the significance of expanding reach and associations, Myntra’s team feels marketplace operations is imperative for its growth. In tune with this, it will tie-up with 1000 retailers or more this year to expand operations and reach.

Additionally, local offline retailers will be able to utilize its logistics, cash on delivery and return services.

How retailers can benefit from Myntra’s marketplace model

Myntra’s aim is to be the India’s biggest fashion destination and with a marketplace model, it will be provide a flourishing platform for boutiques, brands and store owners to sell products ranging from ethnic wear to western wear.

Myntra’s marketplace can be thought of as a virtual mall where customers can check out different stores. So if you want to promote your store and not just sell randomly on a marketplace, Myntra could be your answer to creating your online identity.