Myntra has become the go-to platform for growing a business through online selling. It is continuously increasing the number of sellers on its platform. Let’s see how!
Online shopping is one of the most enjoyable and straightforward ways of making purchases through the Internet. It allows you to visit your preferred e-commerce portals from a desktop or mobile device. It allows you to browse your favourite brands, select your favourite items, schedule delivery, and choose the payment method that is most convenient for you. Physical businesses are progressively modifying their traditional marketing approaches and embracing strategies in response to the rapid improvements of the Internet marketplace and sell on myntra. With a large consumer base, Myntra has become one of the most prominent e-commerce platforms.
Myntra provides an excellent possibility for business advancement through online selling and marketing. However, this isn’t the only reason why Myntra is India’s most popular online store. Let’s have a deeper understanding of Myntra and its seller’s portal.
|1.||What’s the Eligibility to Become a Seller on Myntra?|
|2.||Documentations Required to Become a Seller on Myntra|
|3.||How to Start Selling on Myntra?|
|4.||Myntra Charges Per Product|
|5.||What are the Benefits of Selling on Myntra?|
|6.||Products You Can Sell on Myntra|
What’s the Eligibility to Become a Seller on Myntra?
If you are an individual seller with no business of your own, you will not be permitted to become a seller on Myntra. Myntra seller registration allows only legally registered companies and entities to access the Myntra seller app. Listed below are the four types of sellers, Myntra allows for selling via its portal:
- Partnership firms
- Private limited companies
- Sole proprietorship firms
- Limited liability partnerships
Documentations Required to Become a Seller on Myntra
Once your business becomes legally registered under the tag of any of the entities mentioned above, you will need a few necessary documents before you apply and register your business as a seller on Myntra. The list of these documentations include:
- The registration copy of your enterprise
- The GST registration certificate of your business
- PAN card issued in the name of your firm
- Active current bank account with your entity’s registered name
- If you want to sell branded merchandise, the authorization letter of either the authorized dealer or the direct owner of the brand
- The TAN or TIN of your legally registered business
Keep the scanned copies of the documents ready with you to speed up the steps of registration.
How to Start Selling on Myntra?
Once you have all the documents ready after registering your business, you can apply for the registration process to be a seller on Myntra. Here are the steps:
- First, visit Myntra’s official website.
- Then click on the ‘Register Now’ option, and the Seller Registration Application Form will open up on your device screen.
- Fill up the application form with accurate details asked in the form and attach the necessary documents.
- After filling the form, you need to verify the captcha and click on the ‘Submit’ tab to end the application process.
You must await a response from Myntra upon submitting the application form. Once the application meets the Myntra parameters, you will receive instructions as to how to progress. You can seek advice from the accounting professional assigned to you and your business.
Myntra Charges Per Product
There are no Myntra seller fees if you register with them. Depending on the product category and brand, Myntra charges a flat commission of 4-5 percent. For a variety of reasons, this commission is not a constant price. Myntra charges are frequently lesser in the case of high-value and low price category products. Alternatively, fees are higher for ethnic and western apparel in Myntra-style stores since competition is intense.
What are the Benefits of Selling on Myntra?
As a Myntra seller, you should be aware of the various compelling reasons for retailers to be drawn to Myntra and make a strong presence on the online platform:
- After authorization, Myntra retailers enjoy complete authority over their merchandise. Companies can handle orders, the Internet business, including catalogues, merchandise quantities, and quality of products.
- To keep illegal vendors out of the platform, each seller must provide their Aadhar and PAN cards for authentication purposes.
- If somehow the surplus or leftover stocks fulfil Myntra’s guidelines, Myntra sells the products.
- Merchants do not have to spend anything for storefront setting, personnel, and other costs associated with running a retail shop with Myntra.
- Sellers get the opportunity of seeking the assistance of fashionable innovators, who help them design their merchandise. It allows retailers to match their offerings to current trends.
- Even if orders remain minimal, Myntra assures a minimum rate of return.
- The products’ marketing and social media promotion is handled by Myntra, letting sellers focus on managing the standards and sales of their merchandise.
- Myntra has many consumers across India, which allows you to access many existing and potential customers and enhance business earnings.
Products You Can Sell on Myntra
Myntra is among the leading digital stores across India in lifestyle, fashion, and similar product lines. Here is the Myntra products list, you can quickly sell on Myntra:
- Clothing and apparels
- Self-care products
Onboarded professionals at Myntra work directly with merchants to bring their brands to the marketplace as swiftly and efficiently as possible. This professional support allows businesses to update their products and begin receiving consumer orders. It makes it easier for a merchant to deliver items to a customer. The merchant is responsible for the upkeep of their goods.
The goods are picked up by Myntra delivery partners and delivered to the consumer. Because Myntra offers frequent payments and cash flow support, the merchant’s business can grow significantly faster. Myntra processes seller repayments in 1-2 business days. Money is paid to the Myntra-registered seller bank account after the deduction of commissions.