Tuesday, July 17, 2018

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Growth of Indian fashion e-commerce Man holding smartphone with choose shirt on ecommerce website

To address this issue, initiatives like cash on delivery, easy return and exchange, discounts and offers are being implemented to encourage consumers to use online channel for shopping. E-tailing is in early stage but is growing rapidly and it will be further catalysed with the digital India program and structural reforms like GST implementation. Current share of e-retail in apparel and lifestyle segment is estimated at 4 percent in 2017 and is expected to grow four times from US $4 billion in 2017 to US $13 billion by 2020. E-retailers have rapidly scaled up their product offerings, providing a wide choice to customers. Several players have adopted marketplace models (pure or managed) which has enabled them to offer more categories, more brands and greater market reach for brands. E-retailers are opting for Omnichannel retail model by opening their physical store to capture a bigger market share. In addition, E-tailers are also investing into studios to improve uniformity in product catalogue for different suppliers, thereby enhancing customer’s shopping experience. Along with faster and easier navigation, most e-tailers provide detailed specifications of the products to make it easier for consumers to make purchase decisions. For instance, high resolution pictures and zoom in features are provided on the website to showcase the details of the products. Multiple images from different angles enable detailed view of product. Measurement charts assist the customer to make the right fit decision in case of apparel products, etc.

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