by Vidhi Mukhija 6 years ago
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I wanted to present an example of customer centric Indian company. Myntra fits the requirement based on my research as well as personal experience.
With giant competitors like Amazon, Flipkart and several other smaller like Jabong, Limeroad, Yepme, Shein, Fashionandyou, Koovs etc., Myntra has outperformed all by continuously addressing consumer pain points and improving. It has personalised fashion and online shopping in India.
Myntra has big plans. The company has been successful till now based on it's costumer centricity, agility and lean practices.
One is bound to doubt such a huge step as it threatens their value proposition of low cost based on lean warehouse storage and data driven product offerings. Will myntra be able to provide the same customer experience in the offline stores or will it cannibalize their online sales.
The CEO says that offline stores are for 400% y-o-y growing beauty segment in this article so right now nobody knows what's cooking in the Flipkart acquired further Walmart acquired independently running firm. https://economictimes.indiatimes.com/industry/services/retail/myntra-comes-offline-with-cosmetic-products/articleshow/65523679.cms
This decision was taken back in 2015 which did not work well it's consumers and they starting selling in site again in 2017.
Why did they take this decision?
Why did it mot work?
With focus on NPS before GMV, Myntra has the highest customer satisafction in the industry and continuous improvement in this NPS is it's secret to continual success.
It has found opportunities, solved customer pain points and added value at each step of the customer journey.
Myntra sources products from various national and international brands and stores them at their own warehouse. Offering 100% authentic products with the model.
Any dress you select you get styling recommendations as to which shoes, accessories, make up you need to team up with the dress and same way for other products. It enhances customer experience, reduces the effort and time to plan the entire look and increases purchase quantity for myntra.
To compete with brick and mortor stores and expand their consumer base, myntra has started EMI payments as low as INR 51 per month, i.e. around 60 cents in euros.
It solves the pain point of having to worry about the size. Also eliminates a step in ordering process.
Watch first 40 secs of the video
Enables users to create groups and shop together. The higher their total purchase amount the more benefits they get.
Myntra has more than 10,000 customers reaching out everyday through social media, emails, phones and other channels. Without a core philosophy it will all be a disaster.
The core philosophy
Customer satisfaction is hard to achieve and even harder to maintain. Folks at Myntra take a proactive approach to understand the customer’s pain points and wow points to excel in customer satisfaction. Sachin, Chief Customer Experience Officer says.
Myntra understands that during the delivery is their only moment of a physical touchpoint to the customer. So they make sure to provide each customer the best experience by owning their own logistics, training the delivery boys and empowering them with taking decisions for last mile customer satisfaction.
They offer an option of try and buy where you can order multiple sizes and pay only for the ones you keep after trying on delivery.
Watch first 10 secs of the video
Myntra is a strong presence on all social media channels.
Watch first 15 secs of the video.
Myntra provides latest trends, celebrity styles, fashion, styling and beauty tips through blogs and videos on their site, app and social media
Results:
235,000+ participants
10,000+ hours spent by consumers on site in 24 hours
1 million+ hits on the site
100,000+ tweets shared in a day
Myntra has an ad campaign called "The unforgettables" which is a series of different customer stories about myntra. All ads show real customers, content of course looks more dramatized.
Myntra's core values are at the heart of customer expereince management.
Only watch first 20 secs of the video
Watch from 12 seconds to 24 seconds
They have their basics correct. There was an instance when using rapid technology they launched a best seller t shirt from internation market on the Indian platform and it wasn't moving at all. Instaed of relying on technology that it wouldn't sell in India, they realised that it was an issue with the style. Such a t-shirt would only look good with a baggy jeans and a cap. This style was new to Indian market and buyers couldn't imagine it by just looking at the image of the model wearing that t-shirt. So they reshot the images and changed it on the portal. This change made it one of the best sellers.
It personalizes the recommendations of products based on your past purchases and activities.
Rapid team at myntra handles some of it's brands and it has more data scientists that designers. Technology helps them identify which designs are sure to sell and ones which fail are removed at lightning speed. It is one of the many other ways myntra is utlising technology to enhance customer experience.
