Ananth Narayanan: Instagram Shopping has not taken off in any meaningful way globally
Ananth Narayanan · Ep #11 | WTF Goes into Building a Fashion, Beauty, or Home Brand? Nikhil w/ Kishore, Raj, and Ananth · Nikhil Kamath · Oct 7, 2023 · at 1:21:06
Ananth Narayanan, founder of Mensa Brands and former CEO of Myntra, discusses the efficacy of direct in-app social commerce on Nikhil Kamath's podcast.
0:00 / 0:06exact quote · 6.1s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“Insta shopping hasn't really taken off globally, right? In any meaningful manner. I mean, at the Instagram level, I'm saying.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Ananth Narayanan
Narayanan: Myntra ad experiments showed higher click-through rates for fair-skinned models
“And we ran an experiment where you actually look at click through rates long time ago, and you find that the click through rates are actually different. So purely economically, the click through rates on performance marketing were higher.”
Narayanan: Target Revenue Multiples Are 5x in Fashion and 6x-7x in Beauty
“My sense is, I think a five X would be interesting. Five X on fashion would be interesting beauty. I think between four and six, no, actually maybe six, seven. I think. Food will be probably lower. Will be three, four.”
Narayanan: In-content click-to-buy video commerce will remain a tiny percentage of sales
“I mean, you know, never say never, but my sense is, I think that will still be a very small percent because I think human beings are still human beings, right? But now or later, and I think, by the way, if you're watching something on content, right, you're tr…”
Narayanan: Consumers will almost never pay a price premium for sustainable products
“Will somebody pay premium for it because it costs more to get to be sustainable? The answer is almost always no. If the answer to that is no, there's no economic model. So I think should one do it and be responsible? The answer is yes. Is it a selling factor f…”
Narayanan: ONDC adds value to brands but will not replace platforms
“I do think ONDC can add value to brands.
I'm not sure there are replacement to platforms.”
Narayanan: Private brands grew to 30% of sales, driving Myntra's profitability
“And the private brand business of Myntra at the same time also went from seven, eight percent to call it almost 30%, which is what drove profitability. So we were among the most profitable pieces of the Flipkart ecosystem, not amongst, we were the most profita…”