Brand websites are driving online fashion retail growth over marketplaces; the former reported 66 per cent order volume growth in FY21 as compared to FY20, says Fashion e-commerce Report: FY2021 vs FY2020, a new report from Unicommerce, a market leader in e-commerce enablement software for multi-channel, warehouse management and Omnichannel services.
“The fashion industry in India is setting new benchmarks of innovation in the e-commerce industry. The rising adoption of DTC (direct to consumer) amongst fashion brands has helped them build a strong connect with the consumer leading to higher growth. The brand websites have reported 66 per cent order volume growth and 77 per cent GMV growth in FY-2021 as compared to the previous financial year,” the report states.
“The strong order volume growth supported with higher GMV growth has led to a 6 per cent increase in average order value. As compared to websites, marketplaces have reported 45 per cent order volume growth and 33 per cent GMV growth, with an 8 per cent decline in the average order value for FY-2021. This is testimony that fashion brands are investing aggressively to build a stronger DTC presence,” it adds.
Trend: Rising demand from Tier II, III cities
The trend of online shopping is gaining prominence in tier-II and -III cities, with 118per cent growth coming from Tier-II cities and over 192 per cent order volume growth from Tier-III cities, while Tier-I cities have reported a muted order volume growth of 14per cent.
Trend: Omnichannel Gaining Momentum
This story is from the July 2021 edition of Business Of Fashion.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 2021 edition of Business Of Fashion.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
LET'S MAKE FASHION PRODUCT GREAT AGAIN
A panel of experts comprising of top leaders debated the evolution and trajectory of the fashion retail industry in the last ten years - the decade of millennials and e-commerce...
COOL COLORS: Redefining Mid-Segment Fashion for Modern Men
Praveen Bafna, MD, Bafna Clothing Pvt Ltd, speaks on Cool Colors’ growth since its inception and expansion plans in a freewheeling chat with IMAGES Business of Fashion
NOT JUST JEANS: KILLER Transforms into Edgy, YouthFocused Brand
Hemant Jain, MD, KKCL, says the brand will open 500 stores in India by the end of next year, along with expanding into the Middle East and Eastern Europe...
WESTSIDE More Than a Transactional Brand; It's a Lifestyle
Since its inception, Westside has grown beyond just fashion and has evolved into a much-loved family lifestyle brand...
MAS HOLDINGS: A Journey of Innovation and Expansion to a $2 Billion Valuation
With a presence spanning across 14 countries and manufacturing operations in 8, MAS Holdings serves as a pivotal partner to renowned brands worldwide, including industry titans like Nike, Victoria’s Secret, and Lululemon.
ENHANCING INSTORE SHOPPING EXPERIENCE: The Role of Technology & Personalisation
Embracing technological innovations not only guarantees enhanced customer satisfaction but also fosters unwavering customer loyalty, thus paving the way for a thriving future for Indian retailers...
H&M Move Offers Functional 'Movewear' To Empower Individuals Of All Skill Levels: Yanira Ramirez Country Sales Manager, H&M India
In conversation with IMAGES Business of Fashion, Ramirez spoke about how H&M's activewear brand, H&M Move, aims to inspire global movement in a more sustainable manner...
DECATHLON Launches New Brand Identity, SustainabilityBased Business Model
Decathlon is adopting an ambitious global strategy, which encompasses an enhanced customer experience, a strong commitment to sustainability and an overall modernisation of the company...
Casualwear & Athleisure Markets in India WITNESS MASSIVE GROWTH SPURT
In the last few years, the market has witnessed a massive growth spurt driven by growing income levels, changing lifestyles, increasing casualisation among professionals, emergence of start-ups and the entry of foreign players
THE INDIAN ATHLEISURE MARKET: Redefining Comfort, Style & Performance
Athleisure, initially perceived as a simple combination of athletic and leisure wear, has evolved beyond its origins to become much more than just that. It's no longer just about comfort; it's a full-fledged fashion revolution...