Brand websites are driving on-line trend retail progress with them reporting 66% order volume progress as in comparison with the earlier monetary 12 months, says Fashion e-commerce Report: FY2021 vs FY2020, a brand new report from Unicommerce, a market chief in e-commerce enablement software program for multi-channel, warehouse administration and omnichannel providers.
“The style business in India is setting new benchmarks of innovation in the e-commerce business. The rising adoption of DTC (direct to shopper) amongst trend manufacturers has helped them construct a robust join with the buyer resulting in larger progress. The brand websites have reported 66% order volume progress and 77% GMV progress in FY-2021 as in comparison with the earlier monetary 12 months,” the report states.
“The robust order volume progress supported with larger GMV progress has led to a 6% improve in common order worth. As in comparison with websites, marketplaces have reported 45% order volume progress and 33% GMV progress, with an 8% decline in the common order worth for FY-2021. That is testimony that trend manufacturers are investing aggressively to construct a stronger DTC presence,” it provides.
Rising Demand from tier II, III cities
The development of on-line procuring is gaining prominence in tier-II and -III cities, with 118% progress coming from Tier-II cities and over 192% order volume progress from Tier-III cities, whereas Tier-I cities have reported a muted order volume progress of 14%.
Omnichannel beneficial properties momentum
Final 12 months, nearly all of trend manufacturers launched into their omnichannel journey by integrating their offline and on-line retailer. Ideas like “Ship from Retailer” and “ Darkish Shops” are gaining traction amongst retail manufacturers. Corporations at the moment are fulfilling 20-25% of their omnichannel orders from the shop, indicating elevated adoption of omnichannel throughout nearly all of brand shops, the report states.
Whereas nearly all of omnichannel orders (55-60%) are nonetheless being generated from brand websites, marketplaces have grown omni presence considerably in the final 15-18 months from being a negligible contributor final 12 months to now contributing 40-45% of total omnichannel orders. Curiously, the fashion-focused marketplaces are the primary ones to embrace omnichannel options and the opposite distinguished marketplaces at the moment are following this technique.
Womenswear dominates on-line trend
Womenswear holds the bulk share of the e-commerce trend market with a 50% market share in FY-2021 and reported 30% order volume progress in FY-2021 as in comparison with the earlier monetary 12 months, in response to the report.
“The kidswear section took the business abruptly with over 200% order volume progress and the market share considerably elevated from 3% in FY-2020 to 17% in FY-2021,” it provides.
The menswear section maintained constant progress with 37% order volume progress and 33% market share in FY-2021.
Western put on section is rising at a fast tempo with 57% order volume progress in FY-2021 as in comparison with the earlier monetary 12 months, and it accounted for 65% market share in FY-2021. Curiously, the boys’s attire section is the largest contributor to the general western put on section and it accounted for 55% market share of total western put on in FY-2021 and reported 40% order volume progress. The child’s western put on section reported a pointy order volume progress of over 300% and its market share elevated from 3% in FY-2020 to twenty-eight% in FY-2021.
The ethnic put on section reported an order volume progress of 41% in FY-2021 vs FY-2020 and accounted for 35% market share in FY-2021. The ethnic put on section is majorly led by girls’s attire section and it constitutes a 95% market share of total ethnic put on in FY-2021 and reported 43% order volume progress.
Casualwear continues to be most popular selection
Casualwear enjoys the dominant place in the style attire market and accounted for 84% market share in FY-21 and 49% YoY order volume progress in FY-2021 as in comparison with the earlier monetary 12 months. Nevertheless, the formal put on class is gaining momentum because the market share elevated from 11% in FY-2020 to 16% market share in FY-2021 with over 100% order volume progress. The expansion of the formal section could be attributed to the rising variety of offline consumers shifting in the direction of on-line procuring platforms, the report says.