Online Fashion Retail Market in India: Indian Market Insights Growth, Size, Comparative Analysis, Trends, and Forecast, 2017-2025 Companies profiled in this research are Koovs, Stalkbuylove, Lime Road, Yepme, Styletag, Zovi, Shopperstop
Currently, India is a booming market for the online sector be it social media platform or running an online retail business. In an online retail, customers can choose from the many options available from the comfort of their homes staying away from the hotchpotch outdoor shopping which makes it very convenient.
customers can choose from a number of payment methods like debit cards, credit cards, cash on delivery (COD), electronic wallets, smart cards, internet banking, demand drafts, and cash on order. Among all these methods, the COD is the most popular method in India as it offers customers the option of paying once the goods have been delivered.
The obtainability of a wide array of payment options is considered to be one of the primary drivers of this global market.
This market is segmented by consumers such as men, women, and children. It is anticipated that during the forecast period, the women segment will be the major consumer segment of the market.
Moreover, as more women in the country are expected to be employed and empowered financially, this will increase the demand for women’s clothes. With hectic lifestyles, as women are getting more motivated towards online shopping than visiting busy stores due to lack of time is another factor driving this segment.
Moreover, availability of high-end products and fashion outfits for women will result in more purchases during the forecast period and will successively lead to the growth of this market segment.
This online fashion retail market is also propelling with the increased internet penetration. Factors like the distribution of consumers between mobile apps and websites is to stimulate the scenarios for growth of this market during the forecast period.
Due to the developments in technology, many applications are introduced to the world of online retail. Similarly, resulting innovation of mobile applications is creating a huge impact on the growth of the online fashion retail market in India.
They are considered as a faster alternative to mobile web browsing as these shopping applications allow consumers to shop at one click. Moreover, many companies are now enthralling themselves to develop sophisticated apps that are designed to influence the functionalities of specific operating systems like Windows, Android, and iOS.
Furthermore, such different apps will not only provide handiness to consumers but will also make special discounts and offers more accessible & mainstream to the customers which will lead to the growth of this market. However, threat from an unauthentic player may hamper the growth of the market.
The regions every nook and corner is widely covered by this market. Prominent vendors such as Koovs, Stalkbuylove, Lime Road, Yepme, Styletag, Zovi, Shopperstop.
are into the competitive landscape. However, the global players like Amazon and eBay offer an impressive range of fashion products, and exclusive discounts sometimes which has given a tough challenge for regional players like Flipkart and Snap deal.
It is important for retailers to focus on their pricing strategies and the endowment of innovative services because the purchase decision of consumers wholly depends on the price of the products. Global Online Fashion Retail Market is expected to flourish at a CAGR of 61% during the forecast period from 2017-2025.
Some of the major market players of the Global Online Fashion Retail Market in India include Amazon, Flipkart, Snapdeal, Jabong, and Yepme among others.
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