Pandemic provides India an opportunity to lead global fashion retail market
The ongoing pandemic has given brands and retailers an opportunity to attract consumers with new and emerging technologies. Brands now need to move away from the previous policy of consumers coming to stores and bring their products closer to consumers. As per a CyberMedia report, this can be done by choosing the virtual world of retailing to sustain and succeed.
India is among one of the fastest growing e-commerce markets that makes it the largest global destination for fashion retail. The country’s logistical services ensure quick deliveries, encouraging consumers to boost their fashion purchases. Easy returns policy also encourages them to increase purchase while brands penetrate new towns and villages.
Lockdown raises demand for cotton knitted fabrics
India’s investments in fast fashion have been increasing for the last few years. New and innovative features have helped the industry increase production capacity and supply chain efficiency. However, COVID-19 has impacted the industry with lockdowns and restrictions on industrial operations have led to a drop in fashion production. Industry players have been struggling to tide over this crisis through cost rationalization.
Demand for cotton woven fabrics has declined in the last few months. However, demand for cotton knitted fabrics has increased due to a rise in ‘Work from Home’ culture. This trend is likely to continue over the next half decade as more consumers will shop for casual and comfortable clothes. Demand for reusable hygienic cotton masks will also increase as they will become a part of daily attire.
AR technologies to boost fashion purchases
To ensure consumers of the safety of fashion purchases, brands and industry players would have to incorporate AR technologies into their online fashion retail space. This will help them create trust in customers’ minds. Retailers would also have to adopt right pricing strategies to encourage consumers to buy.
By adopting these policies, the Indian fashion retail segment can not only bounce back from the pandemic effects but also cement its position in the global market.
