The accelerated growth of the Indian ecommerce space has also seen the acceleration in the popularity of fashion products. Highest number of transactions was recorded for the fashion category in 2013. Fashion is further expected to grow by 300% in the coming three years according to industry predictions.
Baggout.com (a social commerce and cashback website) conducted a survey amongst its users to dig deeper into this trend and the survey produced some deep insights into the underlying reasons as well as possible risks to this growth story.
Main findings from the survey are –
- 50% respondents buy Fashion products (Clothes, Shoes, Accessories) online at least once a month while 31% buy rarely or never buy online
- Clothes and Footwear are the two most popular categories in Fashion
- There are a number of fundamental reasons leading to growth in online fashion sales including ease of shopping from home, low prices, discounts and prolific product collection available online
- However, the industry needs to still solve a few problems so that this growth story does not get derailed. The biggest impediment to buying online is the inability to check for fitting which discourages a lot of people from buying online in spite of the liberal return policies of online retailers. The other big problem is the lack of touch and feel (which is a big decision factor in Fashion category)
- Online buyers decide to buy from a retailer based on a number of factors including Product Collection available and Pricing on the retailer’s website
- Flipkart and Snapdeal are the best rated retailers and are ahead of vertical sites including Myntra and Jabong
Originally published on Trak.in.