Myntra hits gas on content-to-commerce with Glamstream rollout
With the launch of Glamstream, vertical ecommerce player Myntra is looking to double revenue in the coming years from content-led commerce.
Flipkart's apparel marketplace Myntra on Friday expects to double its revenue from content-driven commerce with the rollout of Glamstream, a new content-led shopping feature integrated into its app.
Glamstream allows users to discover and buy products directly from bite-sized entertainment content, including music videos, travel vlogs, beauty shows and fictional series.
"We’re creating around 500 content pieces with over 50 media houses and 100+ celebrities to begin with. We can’t share exact investment figures yet," shared Sunder Balasubramanian, CMO, Myntra, in a statement.
"The content mix will include in-house, third-party produced pieces, along with on-app influencer videos and The Ultimate Glam Clan content, depending on what works best for different user segments among our 70 million monthly active users. We're in the test-and-learn phase and will shape our investment strategy accordingly," he added.
The Nandita Sinha-led company aims to increase user engagement on its app by 15% and improve conversion rates by over 20% from users interacting with GlamStream, which embeds shoppable product trays into each content piece.
Myntra, which competes with Tata Cliq and Reliance-backed Ajio, among other horizontal marketplaces, is initially looking to focus on driving user adoption and understanding content behaviour before it enters into co-branded efforts.
Glamstream would be supported by content from Ultimate Glam Clan (UGC), Myntra’s thriving shopper-creator community. Earlier this month, the company announced a milestone of amassing over 1 million shopper-creators in its UGC programme. Over 16% of the platform's monthly active users actively engage with UGC as part of their browsing journey, it said.
In a recent exclusive interaction with YourStory founder and CEO Shradha Sharma, Myntra's CEO Sinha had outlined the company's plans around the evolving needs of Gen Z, the growing market in Tier II and Tier III cities, and the increasing need for relevance, personalisation, and speed among customers.
Edited by Kanishk Singh