Online fashion sales grow 42% in festive season, small towns big draw
11 November 2021, Mumbai:
This festive season Amazon, Flipkart, and other e-commerce and luxury fashion brands dominated headlines as they witnessed bumper sales in Tier II and III cities. Fashion e-commerce leader Myntra reported the sale of 6 lakh items within the first hour of its sale.
The company recorded the presence of 19 million visitors on the first day of sale. It sold over 4 million items on day one, of which 40 percent of purchases were made by customers from Tier II and III cities and beyond.
Small city customers big buyers
Myntra recorded 40 percent of customers from smaller cities. Ethnic and western wear was the top-selling categories for women as were beauty and personal care. For men, casual wear, occasion wear, workwear, and sports apparel categories recorded most sales.
Around 20 percent of new customers participated during the opening of the event while 40 percent of customers in Tier III and III cities placed orders. The sales validated the impact of the company’s consumer engagement initiatives, celebrity associations, and festive offers, says Amar Nagaram, CEO, Myntra.
The e-commerce company had partnered with over 5,000 leading fashion and lifestyle brands for the event.
Festive sales of Reliance Group's online fashion e-retailer Ajio organized from September 30 to October 4 received a tremendous response from across the country with multiple celebrities like Sidharth Malhotra and Sonam K Ahuja endorsing its #BigBoldSale campaign.
Luxury lifestyle platform Tata CLiQ Luxury hosted its annual '10 on 10' sale from October 6-15. With attractive offers on luxury brands across categories, the event helped the company double sales across categories.
The company not only expanded its product range but also introduced exciting offers on luxury brands across multiple categories, informs Gitanjali Saxena, Business Head-Global Luxury, Tata CLiQ Luxury.
Owned by Tata UniStore, Tata CLiQ recorded over 100 percent Y-o-Y growth and an increase in customer base. The company operates in categories such as electronics, fashion, footwear, and accessories.
Niche players outperform large e-com platforms
According to Prabhu Ram, Head- Industry Intelligence Group (IIG), CyberMedia Research (CMR), niche e-commerce platforms are outperforming large e-commerce platforms at such sale events as they prioritize convenience over cost. Users from Tier II and III cities are contributing significantly to market growth.
This festive season, around 75 million online buyers will participate in sales, of which 50 million will come from Tier-II and smaller cities, adds Jitender Miglani, Senior Forecast Analyst, Forrester.
Global market research firm Forrester expects sales of online retailers in India to have grown by 42 percent to about $9.2 billion in sales during the 2021 festive month against $6.5 billion sales recorded in the festive month of 2020.
TOP 5:
2. Consumers will determine growth of sustainable fashion e-comm in India
3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'
4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22
5. Nike strengthens retail presences with new store at DLF Mall of India,Noida
