Myntra is an online marketplace where retailers can sell their products. It offers a convenient way for sellers to manage their inventory, post listings, and receive orders from buyers.
To start selling on Myntra, sellers need to create an account and list their products. Once their products are listed, they can start receiving orders from buyers. Sellers can use the Myntra seller portal to manage their inventory, track their business performance, and more.
There are several advantages to selling on Myntra. First, it is a highly competitive marketplace with a large customer base. This means that sellers have the potential to generate significant revenue. Second, Myntra offers a user-friendly platform for sellers to manage their products and receive orders from buyers. This makes it a good option for small businesses and entrepreneurs who want to start selling their products online. Finally, Myntra has high customer loyalty rates, thanks to its convenient platform and competitive prices.
Sellers can also use Myntra's shipping tools to calculate shipping costs and get orders from potential buyers. Additionally, Myntra provides online tools for buyers to find products they are interested in purchasing and read seller reviews before making a purchase. Myntra also provides good website traffic for its sellers.
Overall, Myntra is a good option for sellers who want to reach a large customer base and generate significant revenue.
Why Opt for Becoming a Myntra Seller?
Myntra stands as a major player in the online business scene, specializing in lifestyle and fashion products. Headquartered in Bangalore, Karnataka, Myntra caters to the Indian audience, offering a platform for sellers to thrive. To become a Myntra seller, you'll need to grasp the process of registration and product listing.
Myntra operates as an e-commerce marketplace, serving as a hub for local and international brands. As of November 2022, the platform boasts an impressive monthly website traffic of approximately 92 million, making it a crucial marketing avenue for brands operating in the fashion and lifestyle sectors.
The good news is that there's no seller commission for signing up on Myntra. The platform does charge a reasonable commission, typically ranging from 4% to 5%, depending on the product category. Myntra provides dedicated account managers who offer valuable insights into the category and inform you about the various promotional strategies to attract potential customers. Once you've completed the registration and product listing, you can start selling on Myntra and tap into a range of resources to boost your business growth.
Advantages of Selling Products on the Myntra Seller Portal in 2023
Myntra is one of the largest online marketplaces in India, with a large customer base and a strong reputation for fashion and lifestyle products. Selling on Myntra offers a number of advantages, including:
- Large customer base: Myntra has over 92 million monthly website visitors, giving sellers access to a large and engaged customer base.
- Strong reputation: Myntra is a well-known and trusted brand in India, which can help sellers to build credibility and attract customers.
- User-friendly platform: The Myntra seller portal is easy to use, making it easy for sellers to list their products, manage their inventory, and fulfill orders.
- Dedicated support: Myntra provides sellers with dedicated support, including account managers who can help with marketing, promotions, and other aspects of selling on the platform.
- Competitive commissions: Myntra charges competitive commissions on sales, ranging from 4% to 5% depending on the product category.
- Advanced analytics: Myntra provides sellers with access to advanced analytics tools that can help them to track their sales performance, identify trends, and make informed decisions about their business.
- Marketing and promotional tools: Myntra offers sellers a variety of marketing and promotional tools to help them reach potential customers and boost sales.
- Logistics support: Myntra provides sellers with logistics support, including warehousing, packaging, and shipping.
Myntra's Strong Online Presence Reaches a Vast Audience.
Myntra's leadership has always emphasized the importance of maintaining a robust online presence to establish a personal connection with customers. Consequently, they offer a diverse range of products from top-tier companies, and their user-friendly website simplifies the shopping experience for customers.
In India, Myntra's marketplace extends its reach to a broad spectrum of customers seeking products across various price ranges. With a substantial number of visitors to their website, it comes as no surprise that their products consistently rank among the best in the market.
To succeed as a Myntra seller, it's vital to establish a solid presence on the platform. This enables you to connect with a larger pool of potential customers and boost your sales.
By utilizing third-party platforms, you can cut down on marketing expenses. Myntra's marketplace attracts millions of daily visitors and maintains a loyal user base, which means you don't have to fret about payment gateways. Additionally, WareIQ offers packaging materials, making the packaging and shipping process more convenient for online sellers.
Myntra Offers a Wide Variety of Products
Myntra is India's largest eCommerce platform with over 6 million customers, and is a hub for diverse products. Sellers on Myntra can list items that span from clothing to household appliances. Many Indian vendors have taken advantage of this platform to showcase their businesses and products, allowing them to gain more visibility and reach a broader audience. Myntra serves as a shopping website offering an array of products for men, women, and children. Their inventory includes clothing, accessories, and footwear. Additionally, Myntra features a special section where you can find incredible deals on clothing, footwear, and accessories.
Myntra operates as an online shopping destination, catering to the needs of men, women, and children. Their offerings encompass clothing, accessories, and footwear. Additionally, Myntra features a dedicated sale section where shoppers can find fantastic discounts on clothing, footwear, and accessories.
Myntra Offers Great Customer Service Myntra ensures top-notch customer service for both its sellers and buyers. Their support team is available round-the-clock, seven days a week, to address any concerns or questions you may have. Additionally, they have a well-structured return policy that makes it easy to get a refund if the purchased item doesn't meet your expectations. Overall, Myntra is a reliable online shopping platform known for its excellent customer care.
Competitively Priced Products on Myntra Myntra provides products at competitive prices, often offering discounts of up to 50% off regular rates. Users can conveniently filter products by category, size, color, and brand using the app. Dynamic pricing, which involves adjusting prices based on market demand and supply, is crucial for driving sales on online marketplaces. Many companies offer analytics services to help sellers on Myntra stay competitive by keeping a close eye on market trends. By offering competitive prices and maintaining good performance metrics, online retailers increase their chances of securing prominent placement on category pages, known as the "buy-box."
Discounted Deals and Easy Returns on Myntra Sellers on Myntra often provide special discounts on their products, allowing customers to enjoy savings. These discounts and promotions cover a wide range of products and categories. To avail of these offers, users simply need to scan the product's barcode and go to the 'Myntra Deals' section on the product page. Additionally, Myntra has hassle-free return and exchange policies. If you're not satisfied with your purchase, you have the option to either return the product for a full refund or exchange it for something else within 14 days of receiving it. Furthermore, if you change your mind about a purchase, you can still opt for a refund or exchange within 30 days of making the purchase.
Understanding Seller Profile to Become a Myntra Seller
As more and more vendors joined Myntra, it became important to find a way to treat them fairly and help them succeed. That's why on August 29, 2019, Myntra introduced the Marketplace Partner Tiering Program. This program aims to support seller growth and enhance the experiences of both users and sellers.
The main objective of the program is to boost and maintain partners' performance in crucial areas like sales, reliability, and quality, ensuring a positive experience for customers. It allows sellers of different sizes and lengths of time on the platform to focus on their performance and progress through three tiers: gold, silver, and bronze.
The program is ongoing and is reviewed every quarter, starting in the first week of the first month, based on a partner's performance in the previous quarter. Gold is the highest tier, and to achieve it, a partner needs to consistently maintain good metrics. Sellers start as bronze vendors and can work their way up to silver and gold tiers based on their performance.
6 Simple Steps to Become a Myntra Seller in 2023
If you're interested in selling your products on Myntra, the popular eCommerce platform in India, follow these easy steps:
- Fill out the Myntra seller registration form: Provide all necessary information about your company.
- Enter business details: This includes your GST number, PAN number, bank account information, business address, email, and phone number. These details will be used for tax invoices. Set up your store theme and location, then create listings with product details like name, price, and quantity.
- Choose your product category: Decide what type of products you want to sell on Myntra. Do some research on the product you intend to offer.
- List your products: Enter all relevant information about each item, like price and description. This step finalizes your readiness to sell on Myntra.
- Decide on shipping methods: You can use third-party logistics to get your products to customers. Set shipping rates based on size and weight.
- Promote your listings: Use social media and other online methods to advertise your products. Consider offering free delivery and easy returns to attract more buyers.
How Myntra Evaluates Seller Performance
Once you start selling on Myntra, they assess your performance using the following key indicators:
- Gross Merchandise Value (GMV): This is the total value of products sold by a vendor over a specific period, excluding returns and canceled purchases.
- Seller Cancellations: Myntra expects a minimal number of order cancellations from sellers. Cancellations initiated by the seller can affect your performance.
- Adherence to Inventory SLAs: This applies to vendors who don't handle their own order fulfillment. Myntra expects merchants to maintain sufficient inventory to avoid order delays.
- Adherence to Delivery SLAs: Sellers who handle their own order fulfillment must meet Myntra's standards for quick order processing.
- Returns: Myntra anticipates low order returns. They consider any orders returned by the customer due to issues the seller can control.
- Product Quality: Myntra has high expectations for product quality. They take into account any orders returned due to quality issues.
Becoming a Gold Seller on Myntra
To achieve Gold Seller status, focus on these performance criteria:
- GMV (Gross Merchandise Value): Aim for a monthly GMV of at least INR 25 lakhs.
- Seller Cancellations: Keep cancellations below 0.11 percent.
- Adherence to Inventory SLA: Maintain a high procurement rate.
- Adherence to RTD SLA: Keep your Ready to Dispatch rate above 90%.
Tips for Improving Performance Criteria
To become a Gold Seller on Myntra, consider the following:
- Increase GMV by offering free shipping, upselling, cross-selling, and bundling products.
- Provide quality customer service and make information easily accessible.
- Prioritize transparency in communication with customers.
- Use technology wisely for inventory management and customer communication.
- Check high-value COD orders to avoid logistical challenges.
- Find reliable fulfillment partners to ensure a smooth customer experience.
Remember, achieving Gold Seller status on Myntra comes with several benefits, so focus on improving your performance metrics!
Myntra's seller platform provides an excellent opportunity for businesses and entrepreneurs to thrive in the dynamic world of eCommerce. With a user-friendly interface, access to a vast customer base, and dedicated support, it offers a compelling environment for sellers to grow their businesses. The platform's competitive commissions, advanced analytics, and marketing tools empower sellers to optimize their performance and reach their potential.
Furthermore, Myntra's commitment to quality and customer satisfaction, as reflected in its user-friendly return policies and product quality standards, ensures a positive shopping experience. Whether you're a seasoned seller or just starting your eCommerce journey, Myntra's Marketplace Partner Tiering Program offers a structured path for growth and success. It's clear that Myntra's strong online presence, coupled with its commitment to providing top-notch services, makes it a valuable platform for sellers looking to tap into India's thriving online marketplace in 2023 and beyond. So, if you're considering becoming a Myntra seller, you're on the right path to reach a wide audience and potentially achieve significant success.