June 19, 2024
India Fashion Ecommerce Market

India Fashion Ecommerce Market is Transforming Shopping Trends in India by Convenience of Online Shopping

The Indian fashion ecommerce market has witnessed significant growth over the past decade. A wide variety of clothing items ranging from traditional wear, western wear, footwear, accessories and cosmetics are available on several fashion ecommerce platforms. The shift of consumers towards online shopping has boosted the growth of the fashion ecommerce market. The ease of choosing from a large catalogue of products from leading brands and international designers, attractive discounts and cash back offers as well as the convenience of doorstep delivery has made online shopping very popular among Indian consumers

India Fashion Ecommerce Market Size is estimated to be valued at US$ 14 Bn in 2024 and is expected to exhibit a CAGR of 34% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the India fashion ecommerce market are Myntra, Ajio, Flipkart, Amazon India, Nykaa, Meesho, Jabong, Snapdeal, Limeroad, Trendin. Myntra and Ajio have emerged as leading players focusing exclusively on fashion and lifestyle segment. The large pan-India presence and continuous new offerings have helped these players build strong loyalty among customers.

The rising awareness about new trends, hectic lifestyles and growing brand consciousness among millennials and generation Z has propelled the demand for fashion and apparel significantly. Customers prefer to shop from the comfort of their homes and the ability to browse products from leading national as well as international brands have boosted online shopping in India.

The key ecommerce players are investing significantly in expansion plans to gain market share locally as well as enhance their reach in Tier II and III cities and towns. The favorable government regulations have also encouraged large global players like Amazon and Flipkart to expand aggressively. With upgrades in logistics and focus on vernacular languages, the fashion ecommerce market is projected to grow manifold in the next five years in India.

Market Key Trends

Personalized and customized shopping experience based on profile and purchase history through artificial intelligence and machine learning is a major trend in Indian fashion ecommerce. Players are investing heavily in technologies to offer more personalized recommendations, product searches, fit guidance, style editors based on customer’s likes and interests to improve customer stickiness on platforms. This has boosted customer engagement as well as sales volumes for leading players.

Porter’s Analysis

Threat Of New Entrants: India’s fashion ecommerce market already has a number of established players making it difficult for new entrants to acquire sizeable market share.

Bargaining Power Of Buyers: Buyers have considerable bargaining power as they can easily switch between different online platforms based on discounts, offers and merchandise selection.

Bargaining Power Of Suppliers: Large suppliers enjoy more bargaining power against online retailers due to their brand value and scale of operations.

Threat Of New Substitutes: Alternatives like offline retail and social commerce platforms pose substitution threats.

Competitive Rivalry: Intense competition among major players to gain market leadership.

Geographical Regions: Metropolitan cities in Western and Southern regions like Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, and Pune account for over 70% of India’s fashion ecommerce market value due to high smartphone and internet penetration with tech-savvy consumers.

Fastest Growing Region: North-Eastern states are emerging as the fastest growing regions for India’s fashion ecommerce sector on the back of widening internet access and increasing disposable incomes in these parts of the country. The market players are focusing on vernacular, localized offerings to tap into the potential.

What Are The Key Data Covered In This India Fashion Ecommerce Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the India Fashion Ecommerce’s growth between 2024 and 2031.

:- Accurate calculation of the size of the India Fashion Ecommerce and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- India Fashion Ecommerce Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of India Fashion Ecommerce vendors

FAQ’s

Q.1 What are the main factors influencing the India Fashion Ecommerce?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top India Fashion Ecommerce companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the India Fashion Ecommerce’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it