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The online fashion retail market in India is poised to grow by USD 28.94 billion accelerating at a CAGR of 18.83% between 2022 and 2027. Additionally, the market is fragmented in nature and shows a YOY growth of 18.05%. The report covers diverse dimensions such as the market size of forecast and historic data, influential drivers, analysis of prominent vendors, and evolving trends, presenting a comprehensive outlook on the global market scenario.
The rise in Internet and smartphone penetration is a major driver propelling the market growth. The comprehensive report of online fashion retail market in India offers crucial insights of the industry's changing dynamics, helping businesses to identify growth opportunities in the constantly evolving digital retail landscape.
The market is Segmented as
1. Product- The product segment is classified into apparel, footwear, and bags and accessories.
2. Gender- The gender segment is classified into women, men, and children.
Online Fashion Retail Market in India market size, Request for Free Report Sample
Growing acceptance of digital payment systems is the key factor driving the growth of the market.
Easy access and hassle-free online payments, enhanced customer confidence in online payments. 24/7 customer support, an easy refund policy, and lower prices are some of the key factors that boost sales of fashion lines in India. Online retailers offer several payment options, such as credit cards, e-wallets, cash on delivery (COD), online banking, and cash on order.
Nowadays, online retailers are offering more and more diversified payment channels to attract more customers. They partner with payment providers to process transactions, allowing them to focus on improving the shopping experience for their customers. Therefore, such factors are expected to drive market growth during the forecast period.
The rise of social media is the primary trend in the market.
The growing mobile penetration and increasing use of social media have provided strong growth opportunities for the market players. Social commerce platforms facilitate social interactions and transaction-based user experiences. In social commerce, the social network is used as an e-commerce platform, allowing customers to purchase products directly from the news feed. Major social media companies, including Facebook, Instagram, YouTube, Pinterest, and Snapchat, offer social commerce opportunities through their platforms.
Besides, social commerce helps retail and e-commerce brands by redirecting traffic to their retail websites, increasing brand reach, and building trust among customers. With the development of social commerce, the number of e-commerce orders has risen. Hence, the rising mobile internet penetration and increasing popularity of social media will increase the demand for online fashion retail solutions, thereby boosting the growth of the market during the forecast period.
The apparel segment is estimated to witness significant growth during the forecast period. High-end apparel includes tops, blouses, skirts, casual shirts, formal shirts, t-shirts, sweaters, sweatshirts, tank tops and vests. Underwear includes trousers, jeans, jeggings, sundresses, shorts and skirts. Underwear and nightwear include pajamas, bathrobes, bodysuits, briefs, socks, underwear and briefs. Clothing for children and infants includes cloth diapers, slippers, sun protection clothing, socks and boots.
The apparel segment was the largest segment and was valued at USD 5.70 billion in 2017. Many online retailers offer a wide range of clothing at prices lower than the prices of mainstream brands in offline retail stores. This has motivated many Indian consumers to shop online. The growth of the Indian online fashion retail market in the apparel segment is also due to the presence of many e-commerce companies, such as Walmart Inc. (Flipkart), Snapdeal Ltd., and Reliance Industries Ltd. (Ajio), Adidas AG., eBay Inc., Tata Sons Pvt. Ltd., Aditya Birla Fashion and Retail Company Limited. and Amazon.com Inc. Thus, such factors will drive the growth of the India - online fashion retail market during the forecast period.
The Gap Inc.: The company offers online fashion products such as jackets, shirts, and bottoms for men and women.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
The presence of payment barriers is a challenge that affects the growth of the market.
Given the familiarity and concerns about cyber safety, a considerable portion of the population in India is more comfortable with cash transactions. Access to bank services and the necessary means of making payments over the Internet are not widely available for a large number of prospective customers, particularly in rural areas.
Additionally, the online payment process can be confusing for some users, mainly those unfamiliar with digital platforms. Therefore, factors such as cash preference, lack of banking accessibility, and complexity of payment processes will impede the growth of the market during the forecast period.
The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth. For details analysis BUY FULL REPORT.
Online Fashion Retail Market In India Scope |
|
Report Coverage |
Details |
Page number |
136 |
Base year |
2022 |
Historic period |
2018 - 2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.83% |
Market growth 2023-2027 |
USD 28.94 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
18.05 |
Regional analysis |
India |
Performing market contribution |
APAC at 100% |
Key countries |
India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adidas AG, Aditya Birla Fashion and Retail Ltd., Alibaba Group Holding Ltd., Amazon.com Inc., Benetton Group Srl, Dolce and Gabbana SRL, eBay Inc., Gildan Activewear SRL, GioTech, H and M Hennes and Mauritz GBC AB, Levi Strauss and Co., Naaptol Online Shopping Pvt. Ltd., One97 Communications Ltd., Reliance Industries Ltd., Shoppers Stop Ltd., Snapdeal Ltd., Tata Sons Pvt. Ltd., The Gap Inc., V Mart Retail Ltd., and Walmart Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Gender
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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