Introduction
Last year was a tremendous one for Indian ecommerce industry, where especially the apparel sector witnessed an incredible growth in the entire ecommerce history. It is highly expected by the experts that the apparel industry will witness more growth options and reaches different heights in the future.
Before diving directly into the topic we need to look out some of the past statistics registered as a result of happening. It all started with the introduction of two pioneers named Rediff Shopping and Indiatimes shopping in late 90’s. After a six-year oligopolistic rule fashion industry got introduced towards a new variety of players called eBay. Inwho created a revolution in the Indian fashion industries.
As eBay created a way it is then closely followed by the establishment of various online players like Flipkart, Jabong, Snapdeal and Amazon in a short time of ten years. These five online marketplaces where the lead players till now who contributes a major share in the growth of ecommerce and also an e-tail industry of fashion.
Current Trends Of Fashion E-Tail In India
- Increased number foreign branded items inflow towards the Indian market
- Rapid and sudden change in the customer buying behavior of apparel and fashion products
- The nation consisting of more number of youth population
- The fashion based online store has the capability of meeting the demand of variety for clothes ,especially among Indian women.
- Personalized designs have become much more prevalent and established a strong race.
- Spending over fashion&apparel products has increased in the past three years by surpassing the rate of electronics, books and media product purchase through solely dominating with a market share of 30%.
- A multi-channel strategy is highly successful as it is implemented in ecommerce
- Moreover the arrival of new trending and exclusive online stores like Koovs, Vootnik has really made the offline giants like Reliance, Tata ,and Raymonds to think about their future in online sales.
- Sale of fashion products through exclusive online platforms has crossed 25% in the past two years, making way for the establishment of individual sellers
Current Trends Of Fashion E-Tail In India
- 47% of the share held by apparel products till date
- Fashion accessories hold a 40 % share
- Footwear contributes 9% of the share and followed by inner garments with 4% of the share
- Among the 47% of apparels around 42% of the clothing’s are ethnic, same as 58% of the share held by women’s jewelry with accessories
Future Scope And Expected Growth
- Last year Amazon registered 30% of its entire sale from fashion apparels and this number will keep increasing and spread over all platforms.
- Even though Flipkart is expected to register a pure market dominated by 2020 through holding a market share of 70%,still it will face a tough competition from its peers like Amazon.
- Chinese e-commerce giant Alibaba will also be playing a prominent role which makes things even tougher for Flipkart added with the promising contribution of developing platforms like Koovs and Vootnik.
- The conversion rate of offline fashion stores into e-tails will be very high in the next two years compared to previous years due to the conditional penetration of internet.
- There will be an implementation of new marketing strategies like multi-channel and omni-channel same as technologies like chatbots and AI will be witnessed.
Conclusion
A lot of changes are definitely going to happen in the fashion e-tail industry within 2020 through the implementation of new technologies and strategies in order to fulfill the customer needs and give them some awful experience every time. Similar to fashion e-tail industry other categorical industries are also expected to witness some interesting changes in the mere future.
