How To Sell On Myntra? Step By Step Guide To Become A Myntra Seller in 2024
Myntra is one of India's most profitable e-commerce sites. Being able to sell on Myntra is a fantastic opportunity for any business. Myntra has expanded from offering customized gift products in 2007 to presenting more than 500 Indian and international companies in 2024. Myntra features over 1000 companies and sells over 150,000 goods. Myntra is currently owned by Walmart's Flipkart in India.
India is the world's second-largest internet user, with 700 million internet users in a population of 1.4 billion people. Regular internet users make up 87 percent of the total user base. This means that things for online enterprises are only getting better.
Myntra, unlike other e-commerce platforms, does not recognize every private label that sells low-quality products. As the platform is limited to branded items, to become a Myntra seller, the vendor should transform the small business into a brand. When you compare Myntra to any other fashion e-commerce platform, you will see that Myntra exclusively promotes selected brands, whilst other platforms register any local selling vendors. Myntra displays your products alongside popular brands that are exclusive to the platform once you register your business.
As appealing as a Myntra registration may appear, registering a business on the site is not easy, it takes a fair amount of effort to sell on Myntra. It is for the same reason that scams and low-quality products/businesses are kept off the platform: Before permitting a firm to use the site, Myntra goes through a rigorous screening process before you can start to sell on Myntra. So here is a guide for you to know how to sell products on Myntra.
Introduction to Myntra Online Seller Portal
Myntra is an online selling platform where retailers can sell their items on the website. It offers an advantageous way for retailers to deal with their items, make postings, and get orders from buyers.
Assuming you have a product and are thinking to start to sell on Myntra online portal, you'll have to set up your account and list your products to become a Myntra seller.
When you've done that, you can begin with getting orders from buyers and start to sell on Myntra. You can also utilize the seller portal to deal with your stock, and track your business details, from there, the sky is the limit.
There are a couple of key advantages to selling on Myntra. In the first place, it's an extremely aggressive commercial center with fierce opposition. This intends that there is potential to make a reasonable amount of revenue assuming you set forth the energy.
Also, Myntra offers a simple way for retailers to deal with their items and get orders from buyers. This makes it an ideal stage for independent companies and business visionaries who need to begin selling their items on Myntra.
At last, Myntra has high consumer loyalty rates, which is reasonable because of its advantageous stage and cutthroat costs.
Venders can likewise utilize Myntra's delivery apparatuses to ascertain transporting costs and get jiomart orders for potential buyers. At long last, Myntra provides online tools to buyers to find items that they're keen on buying and review merchants' reviews before making a buy. Myntra supports and provides great website traffic on its portal for people who want to become a Myntra seller.
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6 Easy Steps of the Onboarding Process to Become a Myntra Seller in 2024
Myntra is a popular eCommerce shopping platform in India. If you are serious about selling on Myntra India, there are numerous options for eCommerce enthusiasts and online merchants to grow their businesses.
Myntra Seller Fees
Depending on the brand and category of the goods, Myntra charges a flat commission of between 4 and 5 percent. This commission fluctuates for a number of reasons. For products in the high-value and low-price categories, Myntra levies lower prices.
You can go straight to the Myntra seller central website for Myntra seller registration online and enter your business information to begin selling your products in the Myntra seller central dashboard.
The steps required to become a Myntra seller are given below-
Step 1- Fill up the Myntra seller registration form with all of your company's information.
Step 2- Enter business information such as GST number, PAN number, Bank account details, business address, email address, phone number, and so on. These details will be used to generate tax invoices for clients and the marketplace. After registering, you must set up your store by selecting a theme and a location. After you've built the store, you'll need to build a listing, which we'll go through later in the post. This will comprise the URL of your store, the title of your product, its price, and the number of units available for purchase.
You will also need to market your store on social media platforms, such as Facebook and Instagram, and also through online search ads.
Step 3- Select the product category you want to sell on Myntra. You should conduct additional research on the product you intend to offer on Myntra.
Step 4- Enter product information and begin product listing. You must decide on a selling price. Create an eye-catching and useful listing for all customers. Finally, enter information about each item, such as its price and description, into the product list. You're ready to sell on Myntra, once you've finished these steps!
To increase your visibility and sales in the marketplace, you must include as much information as possible. There are numerous resources accessible on the internet that can assist you in attracting customers to your listings.
It is critical to conduct research before selling on Myntra. Know what the product you're selling has to offer, and make sure to highlight all of its features and benefits.
You should also ensure that you have reliable information about sizing, colors, and other characteristics.
Step 5- Determine how you want the merchandise shipped. You can use third-party logistics to get your product to clients. Choose a shipping rate based on the size and weight of all of your purchases.
Step 6- To begin receiving orders from the marketplace, you must conduct a promotion and advertising campaign. Use social media and other internet methods to publicize your listing. You can also provide free delivery and easy returns.
To know more, as to which business structure you need to register your business on Myntra, and start to sell on Myntra.
How to Become a Gold Seller on Myntra
After you start to sell on Myntra, always aspire to become a gold-tier seller. For that you must achieve the following performance criteria:
GMV (gross merchandise value): Traders who sell on Myntra should have a monthly GMV of at least INR 25 lakhs.
Seller Cancellations: Traders who sell on Myntra should cancel fewer than 0.11 percent.
Observance of Inventory SLA: Traders who sell on Myntra should have a procurement rate of more than 85 percent from April 1st to September 30th of any given year, and from October 1st of the same year, sellers should have a procurement rate of more than or equal to 90 percent.
Observance of RTD SLA: Traders who sell on Myntra should have a Ready to Dispatch rate greater than or equivalent to 90%.
Why Choose to Become a Myntra Seller?
Myntra is one of the biggest online business platforms having expertise casually and fashionably of life. Based in Bangalore, Karnataka. Myntra is an online commercial center for the Indian crowd. In this article, you will figure out how to sell on Myntra as a vendor and for that you should know how to register yourself and list products on Myntra. This brings us to an important question- Is it profitable to sell on Myntra?
Myntra is an online internet business commercial center that sells local and global brands with month-to-month website traffic of around 92 million, as of November 2022 (as per SEMRUSH Stats). It has turned into a significant advertising channel for every one of the brands that work in the design and way of life areas.
Is there a Myntra seller fees charged? There is no dealer commission to enroll on Myntra. Myntra charges a proper commission of 4% to 5%, contingent upon the classification of the item.
Myntra committed account directors to give definite data about this classification and illuminate you about the various kinds of advancements you can use to draw in expected clients. After the registration and enlistment of products, you can sell on Myntra and access different assets for your business development.
Advantages of Selling Products On The Myntra Seller Portal in 2024
As a Myntra vendor, you should get aware of the several compelling reasons for shops to flock to Myntra and establish a significant presence in the online marketplace.
Myntra retailers have complete control over their merchandise once authorized. Companies can handle orders, online sales, catalogs, merchandise quantities, and product quality.
When sellers start to sell on Myntra, they experience many advantages of selling on this platform. Some of them are mentioned below.
Myntra's Internet Presence Reaches A Significant Number of People.
Myntra's management has always believed that having an online presence is essential for connecting with customers on a personal level. As a result, they provide a diverse range of products from leading companies, and their user-friendly website makes it simple for clients to find what they're looking for.
In India, Myntra's marketplace reach is extensive. It is offered to all types of customers who are eager to purchase things in a variety of pricing ranges. With so many people visiting their website, it's no surprise that their items are constantly rated among the best on the market.
If you want to sell on Myntra successfully, start by establishing a strong presence on Myntra. It will assist you in connecting with more potential clients and increasing revenue.
When you use third-party platforms, you can save money on marketing charges. Myntra marketplace receives millions of visitors each day and has a consistent user base, and you don't have to worry about the payment gateway as well.
Myntra receives millions of visitors each day and has a consistent user base, and you don't have to worry about the payment gateway as well. WareIQ also provides packaging materials, facilitating packaging and shipping easier for online vendors.
Myntra Provides a Diverse Range of Products
Myntra is India's largest eCommerce company, with over 6 million consumers. Products one can sell on Myntra range from apparel to appliances
Many Indian vendors have listed their businesses and items to gain more attention and reach a broader audience.
Myntra is a shopping website that sells a variety of products for men, women, and children. Clothing, accessories, and footwear are all available. Myntra also has a sale area with fantastic deals on clothing, footwear, and accessories.
Myntra Gives Excellent Customer Service
Myntra offers excellent customer service to those who sell on Myntra as well as their consumers. Their team is ready 24 hours a day, 7 days a week to assist you with your issues and queries. Furthermore, they have a well-organized return policy in place that allows you to easily get your money back if the thing you purchased does not fulfill your expectations
Overall, Myntra is a trustworthy online shopping platform with excellent customer care.
Myntra Items are Competitively Priced
Myntra provides competitively priced products at savings of up to 50% off standard rates. Users can filter products by category, size, color, and brand using the app.
Dynamic pricing is critical in boosting sales on online marketplaces. A slew of firms offering analytics services assist marketplaces and those who sell on Myntra in updating their prices by constantly watching market demand and supply as they strive to sell enormous volumes.
Offering competitive prices and keeping good metrics assist online retailers in capturing the "buy-box," or conspicuous placement at the top of the category page. On peak sale days, vendors that do an average of a couple of crores in businesses hire the least people to adjust the prices on the marketplace.
Myntra Offers Discounted Deals and Also Easy Returns on Goods
The vendor who sells on Myntra also provides discounted deals on products so that consumers can purchase them. Discounts and promotions are available on a variety of products and categories.
Users must scan the barcode of the goods they wish to purchase and then navigate to the 'Myntra Deals' tab on the product page. They will then be able to see all of the available discounts and promotions.
Myntra has simple return and exchange policies. You can return the product for a full refund or exchange it for something else within 14 days of getting it. Furthermore, if you are not happy with your purchase, you have the option of receiving a refund or an exchange within 30 days of making your purchase.
Understand Seller Profile- To Become a Myntra Seller
With the number of vendors on Myntra increasing at an exponential rate, it became difficult to treat all merchants fairly and incentivize their success. As a result, on August 29, 2019, they launched the Marketplace Partner Tiering Program effort to fuel seller growth and improve user and seller experiences. Moreover, Myntra seller registration is a very easy & hassle-free process.
The Marketplace Partner Tiering program's goal is to improve and maintain partners' performance on business-critical criteria like sales, reliability, and quality by assuring a positive customer experience. The program enables sellers of various sizes and tenures to drive their Myntra growth by concentrating on their performance and is divided into three tiers: gold, silver, and bronze.
The Marketplace Partner Tiering program is ongoing and will be renewed every quarter in the first week of the first month, based on the partner's performance in the preceding quarter. Gold is the highest category, and to earn it, a partner must constantly maintain good metrics.
All sellers begin to sell on Myntra as bronze vendors and can advance to the silver and gold tiers based on their success.
How Does Myntra Measure Your Sales Performance
After initiating to sell on Myntra, always keep in mind the KPIs that Myntra analyses for you to sell on Myntra. Evaluation of seller's performance is done using these inspection criteria that they have developed-
Gross Merchandise Value (GMV)
Myntra pushes for maximum sales. Myntra uses the Gross Merchandise Value (GMV) of vendors to assess their success. It is the total value of products sold to clients by a vendor over a specific period, excluding returns and canceled purchases.
Seller Cancellations
Myntra anticipates a minimal number of order cancellations from its sellers. So, this performance indicator indicates any cancellation initiated by the seller, i.e. when the seller lacks sufficient inventory or is unable to fulfill a specific transaction for whatever reason, the seller must cancel the order
Cancellations caused by Myntra, on the other hand, would not be considered in this measure.
Adherence to Inventory SLAs
This metric only applies to vendors who do not handle their order fulfillment, i.e. Myntra handles their order fulfillment.
Myntra does not want any issues to cause order delays or client cancellations. So, to avoid scenarios that can cause a product to be out of stock (OOS) owing to a delay in delivery, Myntra expects merchants to obtain inventory within a specific time frame.
Adherence to Delivery SLAs
This indicator applies exclusively to merchants who conduct order fulfillment in-house or outsource order fulfillment to a 3PL (third-party logistics) provider.
Because Myntra wants its merchants to fulfill orders quickly, it has created tough standards that sellers must follow. All orders indicated as ready-to-dispatch on time are included in the dispatch SLA.
Returns
Myntra anticipates low order returns. Myntra considers any orders that were returned (or reimbursed) by the consumer that the seller could control for this purpose, excluding try goods, purchase goods and product quality returns.
Quality of Product
When it comes to product quality, Myntra has high expectations. Myntra takes into account any orders that were returned due to quality difficulties, such as defective products, fabric quality, faded products, used products, worn-out products, stitching flaws, and so on.
Guide To Improve Performance Criteria
Every Vendor who sells on Myntra aspires to be a Gold Seller on the platform. In comparison to the other grades, Myntra's Gold tier provides several perks. The challenge now is how to enhance your performance so that you may become a Myntra seller with Gold Tier status, and how to keep your Myntra Gold Tier status if you currently have it. You can achieve the gold tier by focusing on improving on KPIs mentioned below.
Increase Gross Merchandise Value
A vendor who sells on Myntra must have a monthly GMV of at least INR 25 lakhs. To sell on Myntra and obtain that figure of sales, the seller must look into the facts mentioned below
Offer Free Shipping
Customers who do not have to pay for delivery are a popular alternative for online purchasing. Customers that are price sensitive and want a clear pricing structure would appreciate the free shipping.
Upsell and Cross-Selling of Products
Upselling is a sales tactic that involves selling a better, more costly version of a product that a client already possesses (or just bought). Meanwhile, cross-selling refers to offering items that are similar to those that a consumer already owns
You may upsell items by offering larger sizes, adding additional features, or improving performance. If a consumer desires 4GB RAM for their computers, upsell them to 16GB RAM, with a limited-time offer and a somewhat higher cost than their prior option.
On your product pages, you may include an "often bought with this item" or "who bought this" area for cross-selling.
Add Bundles
When you bundle complementary products into a collection of things that can be purchased together at a discount or at a lower price than when purchased separately, this is known as product bundling.
As an upsell or cross-sell, you might group goods. Alternatively, you may design a one-of-a-kind product bundle in a gift box or with bespoke wrapping.
Discounted Deals
Discounting is a marketing tactic that encourages customers to buy more and in larger quantities at a reduced price. This is especially helpful if you're selling things that are generally purchased in bulk.
You may also utilize free presents or free merchandise to reward clients who spend more money in your shop.
Quality Customer Service
Approximately 95% of customers feel that customer service is vital in their brand selection and loyalty. Furthermore, 80 percent of customers value a company's experience as much as its products.
When you take the time to address clients' inquiries on social media and live chat, you develop trust and make them feel comfortable purchasing from you.
Return requests can be converted into new sales if you are diligent in managing them. Instead of requesting a refund, your buyer may be content with an exchange.
This boosts brand confidence and encourages people to return to your store.
After all, keeping a current client is five times less expensive than obtaining a new one.
Lower Order Cancellation Ratio
The vendor who sells on Myntra must have seller cancellations of fewer than 0.11 percent. To sell on Myntra and maintain lesser cancellations, the seller must look into the facts mentioned below
Make Information Easily Accessible
The client of the twenty-first century is well-informed. Most shoppers do their leg work before making a purchase and most of the buyers abandon the purchase due to a lack of information.
Providing precise information such as product characteristics, usefulness, and the price will help to decrease cancellations and returns.
Enabling easy access to help agents can also inspire consumers to call out for information that they cannot obtain elsewhere. Agents at call center outsourcing businesses may capitalize on cross-selling and upselling possibilities by assisting clients in locating items that meet their specific requirements.
Prioritize Transparency
Transparency with your consumers about product or service performance, availability, or order tracking can help decrease cancellations. Transparency may also be improved with a clear and efficient communication strategy. It is well established that providing 24/7 customer assistance through customer service outsourcing has a favorable impact.
Use Technology Wisely
Technology may be a game-changer for e-commerce companies. Using technology wisely while managing inventories or connecting with consumers may improve customer experience and reduce mid-purchase dropouts. Advanced programs and inventory management software, for example, can give up-to-date product listings. This can help to decrease order cancellations due to delays. Technology can also be used to facilitate quick communication, such as with chatbots.
Check High-Value COD Orders
When transporting high-value cash-on-delivery goods, an unavailable consumer might pose significant logistical and financial challenges for your company. Before fulfilling a COD order, it is usually preferable to confirm the customer's availability. This can help you avoid last-minute cancellations and save you money. Check High-Value COD Orders
Find the Right Fulfillment Partners
For successful product distribution, an e-commerce firm must rely on several partners. A diverse set of stakeholders influences customer experience, ranging from logistical partnerships to contact center outsourcing firms. This is why it is critical to select the correct partners to build a trustworthy experience chain for your clients and avoid cancellations due to discontent
Minimize Returns
Vendors who sell on Myntra must maintain the least returns as much as possible. To sell on Myntra and maintain returns, the seller must look into the facts mentioned below
360-degree product images
To sell on Myntra or any eCommerce fulfillment platform differs from selling in a traditional retail store. In a retail store, customers may visually check and judge the quality of things. E-commerce platforms, on the other hand, provide relatively few visual indications to buyers about the goods they are about to purchase. Sellers must overcome that gap with outstanding product photography. Providing your consumers with a 360-degree picture of the goods is the most effective strategy to reduce returns. Don't overlook important visual information so the buyer knows exactly what they're getting.
In-depth Product Description
If there are any aspects that a photo cannot convey, make sure you mention them in your product description. A thorough product description is essential for decreasing Myntra returns since it reduces the amount of misled purchases. A good description can inform clients about the product's intricacies, such as measurements, color options, and materials utilized to create it. Consumer who understands exactly what they're getting is less likely to return the product once it's been delivered. Make sure to include crucial facts in your product title so that clients can easily find the content.
Use product videos
Videos are fantastic marketing tools. Because you won't be able to make a sales pitch in person, make sure your product video fills that need. A product video can assist clients in better comprehending the product and making an educated buying decision. It condenses your product photos and descriptions into an easily digestible visual bundle, filling the visual and sensory gap that usually bothers online customers. Keep in mind that you may only upload videos and additional visual material if you are a Myntra-registered brand.
Outstanding packing
The online shopping experience of a client does not end after a product is purchased. Packaging can help you increase sales significantly. Packaging is more than simply understanding how to pack a product; it is also about ensuring that the proper items are packed in the first place. Always double-check your orders to verify that clients receive the merchandise they requested.
Shipping and delivery on schedule
Customers have deadlines as well. Their purchase may be a birthday present, therefore waiting for the thing is out of the question. When you get an order, make certain that the product is sent on time, every time. While there are often logistical issues that are beyond the seller's control, it is within your ability to ship orders as quickly as feasible. If the order is late, there is always the possibility that the merchandise may be returned, resulting in an unnecessary blemish on your seller record
Ensure timely customer service
Because of Myntra's customer-friendly return policies, sellers have few options as a vendor if a product is returned. Returned goods, on the other hand, provide a chance for a seller to learn from their mistakes. Vendors must resolve customer complaints in real time and provide a channel for customers to report their issues.
A fast answer might help to alleviate a customer's concerns and boost their trust in your business. A positive customer experience frequently results in more purchases and a reduced return rate.
Make use of feedback and client reviews
Customer feedback and reviews are critical for enhancing your service and products, therefore keep a watch on customer comments and reviews at all times. To reduce your return rates, try to figure out why your product was returned and work to solve the problem. It is also never a bad idea to contact the buyer personally. If a consumer has requested a refund, get in touch to explore what can be done and how this scenario may be prevented in the future.
Direct and honest communication is frequently all that is required to guarantee that the customer does not post bad feedback about the vendor. You may take this a step further by asking your clients to complete a brief multiple-choice survey to better identify and address underlying issues.
Improve Procurement SLAs
Plan your inventory replenishment to avoid running out of inventory while keeping in mind the typical time it takes to send the product to the eCommerce fulfillment center.
You must have a certain quantity of items in stock in your storage facility at all times, i.e. standard level inventory.
When inventory falls below the normal level, you must order more inventory, also known as the reordering level.
Keep an emergency supply on hand.
Improve Ready to Dispatch (RTD) SLAs
Create product listings for the goods that, based on your order processing capabilities, you will be able to ship by or before the scheduled ship date.
Ship the orders and confirm the shipping with Myntra by the order's scheduled ship date.
Pack your orders and designate them as ready to dispatch (RTD) on a first-come, first-served basis. Regularly review your order fulfillment operations to detect and rectify any inefficiencies that may result in late dispatch.
Increase your ability to handle orders during flash sales and other promotional events.
How can WareIQ Assist You to Sell on Myntra in 2024?
Working with a tech giant like WareIQ will help you sell on Myntra as Gold Tier Seller. Let's look at how:
Meet all SLAs to guarantee shipment adherence and avoid seller cancellations.
WareIQ's SLA-driven and streamlined pick and pack solution allows you to pack Myntra orders on time and label them as 'ready to dispatch.'
Sellers can minimize late shipping and cancellations by meticulously processing orders while keeping SLA in mind.
Read how the pick and pack fulfillment process works.
With Correct Inventory Relay, you can avoid seller cancellation
Every 5 minutes, WareIQ syncs your inventory across all sales channels, allowing you to convey precise inventory levels on every marketplace and avoid cancellations.
How do we assist in reducing seller cancellation?
You only get requests for inventory that you have by relaying precise inventory levels.
Check out Warehousing and Fulfillment at WareIQ and read about warehouse management.
WareIQ's Inventory Planning
Increase your Gross Merchandise Value(GMV) by offering product bundles
You may utilize strong merchandising strategies like product kitting with WareIQ to package many goods together. This allows you to maximize product visibility and give clients interesting incentives.
How do we assist? It allows you to increase sales by boosting a purchase's average order value (AOV).
Discover how kitting may be an effective revenue-boosting strategy.
Fulfillment is frictionless during flash sales and other promotional events.
WareIQ network supports flash sales by coping with exponential increases in order volume and integrating its broad fulfillment infrastructure with well-organized workflows. Simply tell WareIQ of the sale's schedule and duration, and WareIQ will raise your daily pick capacity and provide enough labor.
How do we assist in frictionless eCommerce fulfillment?
It enables you to improve sales, enhance income, and assure uninterrupted order fulfillment.
Check out our crucial guide on organizing a flash sale.
Eliminate seller-controllable returns and product quality returns, ensure accurate order processing and quality inspections
WareIQ performs quality checks throughout inventory receipt and order processing to ensure that your customers receive the proper items. If you have one-of-a-kind items that need to be thoroughly investigated, WareIQ allows you to tailor the inspection criteria to your exact requirements.
How does it assist? It enables you to provide the correct items with remarkable order accuracy while efficiently handling returns management.
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Conclusion
While many merchants believe that selling on Myntra is a no-brainer, it is dependent on the type of your items, company goals, and eCommerce fulfillment service requirements. To become a Myntra seller, we may provide your company with the push and exposure it requires to maintain continuous development. Retailers, on the other hand, would have to evaluate the benefits against the drawbacks. If you do decide to sell on Myntra and want to keep some of your flexibility, you can always hire a third-party fulfillment firm like WareIQ to handle all of your needs. You may concentrate on the heavy lifting while we handle the rest.
WareIQ is one of India's leading and fastest-growing full-stack eCommerce fulfillment companies, providing everything from same-day and next-day delivery, shipping badges, and RTO Shield to cutting-edge technological solutions like our custom Warehouse Management System (WMS) and user-friendly app store. With that it offers seamless integrations with more than 20 online selling platforms including Snapdeal, Amazon, Meesho, Flipkart, and much more. We can handle all of your brand's fulfillment needs, ensuring that you and your customers receive the finest order fulfillment in the country, a hassle-free experience, and increased customer happiness.
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How to Sell on Myntra FAQs
Can I resell myntra products?Yes, as a Myntra seller, you can resell Myntra products on the platform. However, becoming a Myntra seller involves a thorough onboarding process and adherence to performance criteria.What is myntra business model?Myntra's business model revolves around being an online marketplace connecting buyers with sellers, particularly in the fashion and lifestyle sectors. The platform relies on a diverse range of products, competitive pricing, excellent customer service, and partnerships with sellers who undergo a stringent registration process. Myntra charges a commission (4-5%) on sales but doesn't have a registration fee. The focus is on promoting established brands, and becoming a Myntra seller involves transforming a small business into a recognized brand.How to increase sales on myntra?To increase sales on Myntra, focus on enhancing your seller profile, optimizing product listings, offering competitive prices, leveraging discounts, ensuring excellent customer service, and meeting Myntra's performance criteria. Utilize WareIQ for efficient fulfillment and timely delivery.
May 23, 2022
