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There is no denying that the influencer economy is booming in the country at the moment. Naturally, the social commerce space is also being explored by a number of platforms. So after launching Myntra Studio and M Live, fashion E-commerce platform Myntra has now launched - Style Squad. 

It is a curated group of fashion content creators and influencers, who will exclusively collaborate with the marketplace and its brand partners to become the faces of its social commerce proposition, in particular, Myntra Studio and M Live.

We spoke to four influencers- Akash Choudhary, Taumita Ghosh, Nirjal Basnet- aka queenandro on Instagram, Pradaini Surva who are a part of the Style Squad to understand how they are gaining from Myntra’s initiatives.

According to Akash Choudhary, the platform is empowering them by creating a stable source of income and such initiatives are a win-win situation for everyone involved in the business.

“With Myntra coming in with social commerce and Style Squad, it has become a full-time job. The income is stable, you are working constantly, coming up with ideas and looks. With a platform like Myntra where people are also shopping, there is a trust that comes in from the audience’s perspective. Such a scenario becomes a win-win situation for everyone including the company, audience and influencer. Being in the industry for the past 6-7 years, it is great to see stability come in place,” he said.

Ghosh said, “It's a brilliant initiative as it is giving us a very stable source of income generation, a platform to let out our creative outlook.”

Influencers also feel that they are getting a lot of exposure and are getting seen by relevant audiences which may not have been possible on social media platforms. Myntra’s Style Squad has a partnership with thousands of brands which strengthens their portfolios.

“Coming from a modelling background, to be associated with a brand, one had to go through tons of auditions back in the day. Here 7000 brands are coming to you, this makes a difference,” said Chaudhary.

According to a report,  in India, the influencer ecosystem is estimated at $ 75-150 million a year compared to the $1.75 billion a year globally. While brands continue to invest in influencers, the growth of social commerce will directly impact the growth of influencers, say experts.

The growth of monetisation opportunities for influencers also meant the number of influencers/creators has increased. Especially in the last two years more and more people have experimented with their careers and have switched to becoming full-time influencers.

Asked if the growing competition from all corners of social media is a cause of concern, Surva said, just like any other industry, there is competition in the influencer industry also. “However, the space also pushes us to explore more and does not want us doing just one thing or one type of content.”

“The space is huge, there is competition but everyone has their niche and target audience. But when someone is doing comedy or dancing, the chances of monetising are lesser. The ROI on fashion and lifestyle is huge,” explained Choudhary.