Myntra says 10% of revenue now comes from creator-led commerce, plans to double share
Myntra said shopper conversions have risen 25% from creator-led content, as revenue from its content-to-commerce initiatives doubled to 10% over the past year.
Fashion ecommerce platform Myntra on Wednesday said it sees about 10% of its total revenue being driven by its content-to-commerce model, and expects to double it again.
The company's efforts in creator-led commerce come as it renews its focus on tapping the GenZ consumer, 70% of whom rely on influencer content to interact with the brand across multiple stages from awareness to adoption.
When users engage with content made by shopper-creators, their conversion rate goes up by 25%, Sunder Balasubramanian, Chief Marketing Officer, Myntra shared in a media roundtable.
The Nandita Sinha-led platform has already seen strong traction from its creator-led commerce, whose share in revenue contribution has doubled in just over a year. Currently, about 20 million active users on the platform interact with social commerce content.
Its content to commerce ecosystem hosts Ultimate Glam Clan, which primarily refers to user-generated content on the platform, Affiliate Programs, which allow influencers to recommend products hosted on the Myntra platform via an affiliate link and its latest offering, a more OTT-style content with key opinion leaders.
Myntra had launched Ultimate Glam Clan in September last year, in an effort to kickstart its video commerce-led business and create a community to share user-generated content. While the initial target was to hit 1 million creators in one year, the community has surpassed expectations to host about 3.5 million shopper-creators. It has about 350,000 monthly active creators producing content on and off the app.
Its affiliate programmes, which feature content on social media platforms, bring in about 9% of platform traffic.
These efforts in content-led commerce initiatives have also translated into higher engagement from non-metro audiences, prompting premiumization and penetration. However, consumer interaction with content is still dominated by fashion, with beauty and jewellery still lagging.
"Ultimately, we measure by ROAS (return on ad spend)or ROI. Traditionally, influencer posts were harder to measure. But now, in UGC and affiliate programs, all payouts are sale-based; when content leads to a purchase, creators earn a commission. So, there’s no fixed budget constraint. Scaling is performance-driven, as payouts come from generated revenue," explains Balasubramanian.
(The story was updated to reflect 20 million active users interacting with social commerce content.)