The impact of Coronavirus in the fashion and apparel industry seems to have been bottomed out.
Consumers have begun stepping out of home for work again and are back to social interactions. Categories such as comfort and smart casual wear, athleisure are bound to experience higher growth at a greater pace.
From an online standpoint, apparel dominates a large part of the e-commerce business in India and will continue to enjoy a big share of the pie given the kind of alluring discounts offered by the leading brands and market places.
Add to that there’s an encouraging trend among millennials and GenX to try welcoming organic and sustainable fashion which will open up a new revenue model while working towards building an emotional brand quotient with their consumers. Not to ignore an increasing trend of leveraging influencers to build word of mouth and push sales further northward.
The omnichannel experience is fast gaining popularity. From shortlisting your apparel online and then to try, feel and pick-up from a store offline, consumers are now set to experience a lot more than what was once not even imagined.
With fashion and apparel at the forefront of this experience, let’s keep our fingers crossed and hope for a great year ahead.
Abhijit Banerjee- Founder