The Challenge - Problem statements

Based on the industry landscape described, these are the few business challenges to solve for.

Acquisition of the offline fashion shoppers

The key characteristics of the offline fashion shoppers are -

1. Majority of this segment is in 25-44 age group and Tier 2&3 cities
2. Low trust factor towards buying fashion online
3. They are brand conscious. Brands serve as a means to showcase social status
4. Shopping is an opportunity for a family to get together and have fun
5. They feel offline shopping gives them more control of the buying process

Share product feature recommendations to reduce the barriers to shopping fashion online

Conversion

The conversion rates for purchase funnel remain low across eCommerce. Few indicative ways to improve conversion could be :

1. Improve the ability to discover the product/style of their choice
2. Provide assistance to help users look good
3. Give confidence in the choices made
4. Reduce friction points/complexity in the purchase flow
5. Provide communication cues around trust and positive psyche
6. Reduce/remove elements which could create confusion and negative perception in the purchase flow

Share product feature recommendations to improve conversion.

Engagement

We need to increase the frequency of users on Myntra platform. Effectively we intend to convert a higher percentage of our monthly active users to daily active users.

Few indicative ways to improve engagement could be :

1. Increase the natural consumption frequency (not restricted to purchase) for fashion & lifestyle products
2. Introduce fashion related activities on the app other than the purchase/commerce.
3. Increase awareness about all the possible categories available at Myntra ( eg candles, carpets, suitcases, kids toys etc..)
4. Improve top of the mind recall for Myntra

Share product feature recommendations to increase daily active users as a percentage of monthly active users.

Retention

While the acquisition is important, the retention of the acquired customers is equally critical. Few indicative ways to drive retention could be :

1. Handhold the users in the initial few sessions post-acquisition
2. Acquire a higher percentage of user’s mind space in comparison to the competition
3. Manage customer expectations effectively in case of service failures like :
   • Inability to discover the right products
   • Payment failures
   • Delays in delivery
   • Size and fit issues
   • Poor quality of delivered products
   • Price fluctuations
   • Delay in the processing of refunds
   • High customer service TAT and unsatisfactory response

It is important to understand that while experiences can not be influenced under all scenarios due to business limitations, they could be managed better to avoid customer disappointment. For example, during very high demand, there could be some delays in deliveries. While adding fulfillment capacity won’t be possible only for those limited days, customer expectations and anxiety could be managed better.

Share product feature recommendations to improve customer retention.