By Martin Shwenk Leade
Copyright indiatimes
TIL CreativesDiverse professionals engaging with a B2B e-commerce platform Myntra in a modern, festive office (AI-generated representational image)
Popular e-commerce platform Myntra has expanded its platform capabilities to enable B2B purchases for businesses starting this festive season. This step would simplify bulk and business purchases of goods through online platforms.Under the new facility, Myntra will allow registered businesses to purchase fashion, beauty, and lifestyle products directly from the platform. Retailers and corporate buyers can now order branded products from top brands. This would help them avoid the hassles of multiple layers of procurement typically involved in the retail supply chain.GST benefit for bizThe e-commerce platform has decided to address a critical gap in the traditional wholesale ecosystem for small and bulk purchases by allowing GST-registered buyers to avail input tax benefits. Businesses can avail input tax benefits of up to 18% by GSTIN validation at checkout step. This makes the B2B purchases more cost-efficient.Speaking on the launch, Bharath Kumar BS, Senior Director, of Revenue & Growth, said, “With this new capability coming just in time for the festive season, we are extending unprecedented convenience to retailers and businesses, ensuring they can confidently source products with ease and speed.”Live EventsUnder this new B2B facility, Myntra facilitates flexibility enabling buyers to purchase as little as one unit per style. This surpasses the traditional wholesale models that mandate high minimum order volumes.The new initiative will be rolled out in multiple phases. Phase 1, which is already live, enables businesses to input their GSTIN on the Myntra app at checkout, automatically generating GST-compliant invoices andtax benefits.Phase 2 will further enhance the offering with bulk-order handling capabilities. This would include the capability for customers to place a request for their bulk requirements, which would flow into the brands listed on the platform, dedicated customer support, and supply chain optimization for business buyers.”It strengthens the ecosystem by solving the critical challenge of transparency and credibility for our brand partners and supply reliability for our business shoppers, to be able to, in turn, serve their end user better,” Kumar added.Add as a Reliable and Trusted News Source Add Now!
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