HOW ONLINE SHOPPING HAS CHANGED THE FUNDAMENTALS OF FASHION-ORIENTED BUSINESSES

The Jain brothers, Puneet & Yatin are changing the fashion landscape in India by offering unique indutva and ethicwear collections through their ventures

- Puneet Jain and Yatin Jain

Today, fashion brands can succeed if they target the local market, and through a holistic business presence, i.e., a perfect amalgamation of the online and offline retail. Over the past ten years, e-business or e-commerce has seen a substantial growth especially in the developed countries. According to the U.S. Census Bureau, the e-commerce occupies 9.1 per share of the retail pie. Being the world’s sixth-largest economy, India too is excelling high in the e-commerce sector. Two years back, in 2017, the e-commerce industry of India has generated US$ 39 Billion, which is expected to get trebled by 2020, as per the report of India Brand Equity Fund (IBEF). And, fashion industry is one of the greatest contributor to India’s e-commerce sector, which is growing annually at a rate of 51 per cent. All the leading fashion brands in India are available online either through e-com portals or offering shopping carts on their own websites, the concept of smart retailing is enticing both brands and consumers.

Matching Market’s Pace