According to Redseer Consulting, the number of online shoppers in India will nearly double to around 50 million during the festive season this year.
This year’s bonanza sales will gain from the COVID-driven adoption among shoppers from Tier II and III cities, said a RedSeer report. The rise of new models like video-... Read more
Credited for launching the first edition of DFU Publications in 1989, Surendra Tulsidas Savai, President, Mumbai Textiles Merchants Mahajan, passed away on September 15, 2020. He was 81 years old. Savai was the Emirates Chairman of Mumbai Textiles Merchant & Federation of Association, Maharashtra (FAM). He remained the Presi... Read more
COVID-19 is leading to a reevaluation of the luxury business model in India. With the luxury market expected to contract 39 per cent in 2020, businesses across the country are being forced to either to adapt or perish, says latest McKinsey report. While some of these are resorting to new distribution channels, others are opting ... Read more
With COVID-19 diminishing consumer sentiments, the ethnic wear segment in India could register only 10-20 per cent sales from April to June. However, reports suggest, the arrival of festival season in July with Eid brought some demand back with brands like Fabindia, W, Aurelia and Ethnix by Raymond reporting a 45 per cent surge ... Read more
A report by KPMG and Retailers Association of India indicates, there will be increased adoption of online shopping, contactless payments and consumers placing safety over price, range and convenience post COVID-19. Shoppers will return to physical stores over the next few months as India hits peak festive season. Hence, re... Read more
The Confederation of All India Traders (CAIT) estimates that COVID-19 pandemic has inflicted a loss of about US$253 bn (Rs 19 lakh crore) to India's retail industry in the past five-months, this is based on the estimates collected from figures received from 20 major cities in various states.
The entire retail trade, which... Read more
As stores reopen, fashion brands hope to apply their e-commerce learning -- to coax consumers back to stores. Besides updating their websites, these companies also plan to add features like artificial intelligence and virtual changing rooms for a seamless online and on-site customer experience. While Raw Mango has replaced pop-u... Read more
One of Indi’s first digital fairs for the garment industry, Clothing Manufacturers Association of India (CMAI) 71st National Garment Fair kicked off yesterday. The online fair is on from September 10 -20, 2020. With over 250 brand participants, the fair is being visited by over 20,000 retailers digitally, informs Rakesh Bi... Read more
A survey by the Retailers Association of India (RAI) has revealed, in August Indian retailers witnessed a marginal recovery in business compared to July, even though localized lockdown in some states during Unlock 3.0 phase interrupted the growth of retail in the country.
The Survey say, retail sales shrank 52 per cent fr... Read more
The readymade garments industry is staring at 30-35 per cent loss as sales declined to Rs 6.5 lakh crore in FY20. Also, with just two months to go for Diwali festival season, apparel manufacturers are yet to receive sufficient orders from retailers. The industry witnessed 80 per cent drop in sales during the April-June qua... Read more
With COVID-19 altering consumers’ shopping behavior, fashion labels like W for Woman, Benetton, Pepe, Jack & Jones and Inglot are upgrading their technologies to bring more of inventories on e-commerce platforms like Flipkart, Amazon, Myntra and Ajio.
For brands, e-commerce is a one-time investment and signifies the c... Read more
Brands and retailers like Benetton, Spencer’s Retail, Puma etc have adopted a just-in-time strategy for the upcoming festive season. The strategy includes inventory planning, finance options and discounts, as the pandemic has put everything in a state of flux. Fashion retailers also do not aim to stockpile as more online s... Read more
German sportswear giant Puma India has witnessed strong sales from its online channels amid the COVID-19 disruptions and expects the demand for sports products to pick up in the coming months.
The company has witnessed a spike in new online shoppers on its website and other e-commerce platforms. It expects the demand to g... Read more
The National Garment Fairs not only usher in the new season, but also play an important role in turning around the mood of the industry. Organized by the Clothing Manufacturers Association of India (CMAI) over the last few decades, the National Garment Fair has become one of the most prominent events for domestic garment industr... Read more
Despite COVID-19 dampening business for most of the year, India Ratings and Research (Ind-Ra) expects apparel retailers to improve operational efficiencies and control costs in FY22. This optimism is based on apparel retailers’ focus on cash preservation and burrowing of additional capital to manage cash crunch. The agency... Read more
By selling his retail empire to Reliance Retail for Rs 24,713 crore, entrepreneur Kishore Biyani has finally ended his stint in the retail world. The entrepreneur has got rid of all key businesses to save himself from bankruptcy. Now, only the FMCG business, the Rs 4,000-odd crore Future Consumer, the integrated fashion sourcing... Read more
Reliance Industries has spread its wings in retail with its acquisition of debt-strapped Future Group. Valued at Rs 24,713 crore, the deal doubles Reliance’s $68 billion retail business by merging five listed units of the Future Group into Future Enterprises (FEL). Reliance Retail will also invest Rs 1,200 crore in FEL pre... Read more
As India eases out of lockdown restrictions, with its festive season kicking off, luxury brands are ramping up efforts to entice shoppers.
The Indian government issued orders splitting goods and services into essential and non-essential categories, at the start of the countrywide lockdown in March. However, many consumers... Read more
The consumer base of e-commerce shoppers has doubled to 42 per cent of urban active internet users in India over the last three months according to a study by consulting firm Kantar. Nearly 50% of these are new users of e-commerce coming from tier-1 and -2 cities.
For new shoppers, Amazon and Google have emerged as the pr... Read more
According to a recent webinar by CARE Ratings, Indian textile and apparel industry reported significant reduction in sales starting from March when the government imposed coronavirus lockdown. Post lockdown domestic retail sales came to a grinding halt. To add to the woes of regular garment manufacturers, international cus... Read more
For the first time in decades, Indian retailers have mixed expectations for the upcoming festival season. The festival season in India begins in September with Ganesh Chaturti and stretches till November with Diwali and beyond. Usually, this is the most opportune time for the country's apparel, jewellery and home appliance maker... Read more
As per a Forbes India report, Indian consumers, who earlier equated fashion buying with ‘touch and feel’ experience, are slowly warming up to online shopping. Figures indicate India’s online penetration in fashion and lifestyle, which stood at 9-10 per cent in 2019, is expected to rise to 14-17 per cent by 2022... Read more
Nobody had imagined the transformation Indian retail landscape is currently going through due to COVID-19 crisis. The debilitating effect of continuous lockdowns has sent many retailers, especially those in the luxury segment, into a tailspin, with more consumers opting for delivery services, curbside pickups, online services an... Read more
Fashion brands across the globe are in a fix with most stores still closed brands are clueless about their plans to dispose unsold inventories. Many brands plan to either burn or throw away some of their stock to protect their image and price integrity. However, as France has banned bonfires of all consumer goods, these brands would have ... Read more