Online Fashion Retail Market in India 2016-2020
- Published: Jun 2016
- Pages: 72
- SKU: IRTNTR9599
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This market research report presents a comprehensive analysis of the key market trends, drivers, and challenges that influence the growth of the online fashion retail market in India. The research report also provides a detailed segmentation of the market by consumer segments such as men, women, and children. The leading vendors in the market include Amazon, Flipkart, Snapdeal, Jabong, and Yepme.
Overview of the online fashion retail market in India
Technavio’s market research analysts have predicted that the online fashion retail market in India will grow impressively at a CAGR of around 63% by 2020. The availability of a wide array of payment options is considered to be one of the primary drivers for this market. Presently in India, customers can choose between 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 the different types of payment options, COD is the most popular as it gives customers the option of paying once the goods have been delivered. Furthermore, many banks in this region have also started collaborating with vendors for quick, safe, and secure online transactions. The availability of a broad range of secure payment options and the extensive use of credit cards to make online purchases will lead to the strong growth of the online fashion retail market in India.
This market study also identifies factors like the distribution of consumers between mobile apps and websites to incite the prospects for growth in this market during the forecast period. Mobile applications have a huge impact on the growth of the online fashion retail market in India as they are a faster alternative to mobile web browsing. Since these applications allow consumers to shop on the go, many companies have been compelled to develop sophisticated apps that are designed to leverage the functionalities of specific operating systems like Windows, Android, and iOS. The growing availability of different apps will not only provide convenience to consumers but will also make special discounts and offers more accessible and mainstream. As mobile applications offer a more personalized online shopping experience, it will augment the level of customer engagement, which will, in turn, will bolster the revenues generated by such apps.
Segmentation by consumer segment and analysis of the online fashion retail market in India
By 2020, women will be the largest consumer segment in the market and is expected to occupy more than 47% of the overall market share. More women in the country are expected be employed and empowered financially, which will increase the demand for women’s clothes. Also, with hectic lifestyles, women are getting more inclined towards online shopping than visiting brick-and-mortar stores due to lack of time. The availability of premium products and fashion dresses for women will result in more purchases during the forecast period and will subsequently lead to the growth of this market segment during the forecast period.
Competitive landscape and key vendors
Intense competition prevails in this market with most players selling largely undifferentiated products that are of the same brands. However, the global players like Amazon and eBay are offering an impressive range of fashion products, which has posed a tough challenge for regional players like Flipkart and Snapdeal. As the purchase decision of consumers wholly depends on the prices of the products, it is important for vendors to focus on pricing strategies and the provision of innovative services. Since most consumers prefer COD and make a price comparison before making a purchase, the growth opportunity for new players during is predicted to be high during the forecast period.
Key vendors in the market include -
Other prominent vendors in the online fashion retail market in India are 20Dresses.com, 99labels, Alibaba.com, American Swan, Fabindia, FashionandYou, Fetise, HomeShop18, KOOVS, Limeroad, Naaptol, Shopclues.com, ShoppersStop, Shopping.indiatimes, Shopping.rediff, StalkBuyLove.com, Styletag, Stylista, and Yebhi.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the online fashion retail market in India?
- What are the key market trends impacting the growth of the online fashion retail market in India?
- What are the challenges to market growth?
- Who are the key vendors in the online fashion retail market in India?
- What are the market opportunities and threats faced by the vendors in the online fashion retail market in India?
- Trending factors influencing the market shares of India.
- What are the key outcomes of the five forces analysis of the online fashion retail market in India?
Technavio also offers customization on reports based on specific client requirement.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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