Myntra is undeniably the biggest fashion ecommerce platform that serves millions of Indians, with more than 2,000 world's top fashion brands. Myntra has attained success from day one since it was launched in 2007. Even after being acquired by Flipkart, Myntra enjoys a loyal customer base. And, increased its revenue by a whopping INR 1719 crore in 2019-2020.
The ecommerce giant aims to give consumers the power and ease of purchasing fashion and lifestyle products online. But, most importantly, Myntra allows its sellers to share its growth.
In this blog, you'll have an in-depth analysis of how Myntra manages its sellers and how sellers can improve their performance on Myntra to qualify for the coveted gold tier.
With the number of sellers rising exponentially on Myntra, it became challenging to treat all sellers equally and incentivise their performance. This made them launch the Marketplace Partner Tiering Program initiative on 29th August 2019 to fuel seller growth and improve customer as well as seller experience.
The objective of the Marketplace Partner Tiering program is to improve and maintain the performance of partners on business-critical metrics across sales, reliability and quality by ensuring a high customer experience. The program empowers sellers of all sizes and tenure to drive their growth on Myntra by focusing on their performance and are classified into 3 tiers— gold, silver and bronze.
The Marketplace Partner Tiering is an ongoing program and shall be refreshed every quarter in the first week of the first month in every quarter, based on the performance of the partner in the previous quarter. Gold is the highest tier, and a partner must consistently maintain high metrics to achieve gold tiering.
Note: All sellers start as bronze sellers, after which they can qualify for the silver and gold tier based on their performance.
Benefits get better progressively as you move from bronze to gold. Also, the coveted gold tier has some unique benefits, such as priority partner support and quick payments.
The following payment cycles are applicable for Myntra sellers based on their tier:
The following turnaround time (TAT) would be applicable for a Myntra Gold seller for priority support to be received from Myntra:
Myntra measures the performance of a seller based on six inspection criteria standardised by them:
Myntra strives to achieve maximum sales. For that, Myntra considers the Gross Merchandise Value (GMV) of sellers to measure their performance. It is the total value of products that a seller sells to the customers over a specified period of time, excluding returns and cancelled products.
Myntra expects minimum order cancellations from its sellers. So, this performance metric specifies any cancellation initiated by the seller, i.e. when the seller does not have enough inventory or can't fulfil a particular order for any reason, the seller must cancel the order.
However, cancellations due to reasons attributable to Myntra wouldn’t be considered in this metric.
This metric is only applicable to sellers that don't handle their order fulfilment on their own, i.e. Myntra handles their order fulfilment.
Myntra doesn't want any issue resulting in a delay in order delivery or customer cancellation. So, to avoid conditions that can lead a product to be out of stock (OOS) due to a delay in delivery, Myntra expects sellers to procure the inventory within a specified timeline.
This metric is only applicable to sellers that handle their order fulfilment on their own, i.e. in-house or outsourced order fulfilment to a 3PL (third-party logistics) provider.
As Myntra expects speedy order fulfilment from its sellers, it has implemented stringent guidelines that sellers need to adhere to. The adherence to dispatch SLA includes all orders marked as ready-to-dispatch on time according to the SLA.
Myntra expects minimum order returns. For this, Myntra considers all orders which were returned (or refunded) by the customer that the seller could control, excluding try and buy products and product quality returns.
Myntra expects high standards when it comes to the quality of products. For that, Myntra considers all the orders which were returned due to quality issues, such as defective product, fabric quality, faded product, used product, worn-out product, stitching defect, and more.
To become a gold seller on Myntra, you need to meet the following performance criteria:
3. Create a comprehensive product catalogue so that your customers have enough options to choose from
4. Study your competitors so that you can tweak your sales strategies based on market trends to replicate their success
5. Run advertisement campaigns on Myntra like Product Listing Ads (PLA) and sponsored ads to increase your product visibility
2. Create content-rich product descriptions that include all the features of the product, materials used, weight, size, and more
3. Provide easy-to-read and accurate size charts to avoid returns that can arise due to incorrect size ordered by the customers
Eshopbox’s SLA-driven and streamlined pick and pack service allow you to pack Myntra order and mark it as 'ready to dispatch' on time, without a miss.
How does it help? With meticulous order processing keeping SLA in mind, sellers can avoid late dispatch and cancellations.
Eshopbox syncs your inventory across all sales channels every 5 minutes, enabling you to relay accurate inventory levels on every marketplace and avoid cancellations.
How does it help? By relaying accurate inventory levels, you only receive orders for inventory you actually have.
With Eshopbox, you can use powerful merchandising techniques like product kitting to bundle multiple products together. This helps you maximise product exposure and offer exciting deals to your customers.
How does it help? It enables you to boost sales by increasing the average order value (AOV) of a purchase.
Eshopbox manages flash sales by handling the exponential surges in order volumes and combining its extensive fulfilment infrastructure with organised workflows. You just need to notify Eshopbox about the time and duration of the sale, and Eshopbox will increase your daily pick capacity and allocate adequate manpower.
How does it help? It helps you accelerate your sales, increase revenue and ensure uninterrupted order fulfilment.
Eshopbox conducts quality checks at the time of receiving inventory and order processing to ensure your customers get the correct products in their hands. If you have unique products which need to be specially examined, Eshopbox also allows you to customise the inspection criteria according to your specific needs.
Now that you've understood the journey to become a Gold seller on Myntra, you can start working towards it. It will give you immense opportunities to grow your brand on Myntra, increase sales on Myntra and reap the exclusive benefits of Myntra's most rewarding bracket. Happy selling!