The company finds it difficult due to geographical isolation,
dissimilar time zones, unlike tastes and preferences, etc. The finding,
analysing, rating and accumulating the data is also a tough job. The company is
operating on different systems Two problems and challenges:
E-commerce business is the most trending business in India,
but when this development is going to end nobody knows. It has transformed the
manner in which people buy, still majority of the population in India is
unaware of the E-Retail websites and applications.
of cross-sectional collaboration leading to lack of experience:
online business is not an easy task, though it saves the long term fixed costs
of the business primarily associated with rent or lease of the physical store,
the integration of four divisions:The
company finds it difficult due to geographical isolation, dissimilar time
zones, unlike tastes and preferences, etc. The finding, analysing, rating and
accumulating the data is also a tough job. The company is operating on
different systems like enterprise resource planning (ERP), point
of sale (POS), customer relationship management (CRM). These systems need to be
updated every time with advancement in technology. The huge amount of money,
time and labour is involved in maintaining the systems. Myntra has been spending
around 25% of its earning just on updating the systems. Distracting Myntra from
internal business demands and core tasks which lead to poor experience of the
customers in B2C relationship.
of Customer Retention and brand trust:
As we are
focusing on the Indian market, there is lack of trust which buyers have on the
online vendors. In the past, there have been many incidents where fake websites
are made to lure the customers. They are shown something and given something
else. Nowadays, people don’t easily buy products online. Myntra has been facing
the problem of building trust in its customers. If trust is not existing for
the brands merchandised by Myntra customer retention is also a difficult task.
Furthermore, there is no cost for the customer in switching from one site to
another. Myntra has observed overall fall in the customer retention ratio due
to a tough competition from Snapdeal, eBay, etc.
Myntra is using many systems to operate its
online business which can be reduced by using one single master software which
could collect and analyse the data from initial stage of procurement to the end
sale to the customers. Also complement the customer relationship management by
gathering the personal information of the customers like emails, gender, age,
location, tastes and preferences, etc. This will render an exceptional customer
experience and help in customer retention where Myntra can send online flyers
and coupons, according to the mail guest list.