11 November 2021, Mumbai:

This festive season Amazon, Flipkart, and other e-commerce and luxury fashion brands dominated headlines as they witnessed bumper sales in Tier II and III cities. Fashion e-commerce leader Myntra reported the sale of 6 lakh items within the first hour of its sale.

The company recorded the presence of 19 million visitors on the first day of sale. It sold over 4 million items on day one, of which 40 percent of purchases were made by customers from Tier II and III cities and beyond.

Small city customers big buyers

Myntra recorded 40 percent of customers from smaller cities. Ethnic and western wear was the top-selling categories for women as were beauty and personal care. For men, casual wear, occasion wear, workwear, and sports apparel categories recorded most sales.

Around 20 percent of new customers participated during the opening of the event while 40 percent of customers in Tier III and III cities placed orders. The sales validated the impact of the company’s consumer engagement initiatives, celebrity associations, and festive offers, says Amar Nagaram, CEO, Myntra.

The e-commerce company had partnered with over 5,000 leading fashion and lifestyle brands for the event.

Festive sales of Reliance Group's online fashion e-retailer Ajio organized from September 30 to October 4 received a tremendous response from across the country with multiple celebrities like Sidharth Malhotra and Sonam K Ahuja endorsing its #BigBoldSale campaign.

Luxury lifestyle platform Tata CLiQ Luxury hosted its annual '10 on 10' sale from October 6-15. With attractive offers on luxury brands across categories, the event helped the company double sales across categories.

The company not only expanded its product range but also introduced exciting offers on luxury brands across multiple categories, informs Gitanjali Saxena, Business Head-Global Luxury, Tata CLiQ Luxury.

Owned by Tata UniStore, Tata CLiQ recorded over 100 percent Y-o-Y growth and an increase in customer base. The company operates in categories such as electronics, fashion, footwear, and accessories.

Niche players outperform large e-com platforms

According to Prabhu Ram, Head- Industry Intelligence Group (IIG), CyberMedia Research (CMR), niche e-commerce platforms are outperforming large e-commerce platforms at such sale events as they prioritize convenience over cost. Users from Tier II and III cities are contributing significantly to market growth.

This festive season, around 75 million online buyers will participate in sales, of which 50 million will come from Tier-II and smaller cities, adds Jitender Miglani, Senior Forecast Analyst, Forrester.

Global market research firm Forrester expects sales of online retailers in India to have grown by 42 percent to about $9.2 billion in sales during the 2021 festive month against $6.5 billion sales recorded in the festive month of 2020.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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06 November 2021, Mumbai:

The Delhi government has announced the establishment of 'Dilli Bazaar,' an e-commerce platform that will allow traders and retailers in the city to sell their wares online to clients in India and overseas. Both direct-to-consumer and business-to-business companies, as well as start-ups, will be supported by the 'Dilli Bazaar.'

On the platform, local companies will be heavily promoted. The platform will also have virtual markets where users can browse stores, find things they like, and purchase them. Virtual exhibits will also be held there.

"Delhi businesses will soon have their own e-marketplace, dubbed 'Dilli Bazaar,' where every small and large business owner would have an e-commerce outlet." Dilli Bazaar will be a cutting-edge platform that will offer Delhi's businesses a worldwide online identity, and buyers will be able to go on virtual walks around Delhi's marketplaces and buy whatever goods they want from the comfort of their own homes," stated Delhi Chief Minister Arvind Kejriwal.

"After the introduction of the Dilli Bazaar portal, Delhi's GDP, tax revenues, and economic activity would experience a massive increase; worldwide companies will come to Delhi," Kejriwal remarked. By August of next year, the 'Dilli Bazaar' portal, which will include all prominent businesses and their items, should be ready.

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TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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22 October 2021, Mumbai:

The pandemic has forced people to think out of the box, be more agile and adopt new age communication formats, says Jaspreet Chandok, Head-Lifestyle Business, IMG Reliance, which is organizing the Lakme Fashion Week from October 21 to 25 this year.

Instead of the usual celebrities, and paparazzi flashes, the event this year offers audience a seamless digital experience. It has invested in two major areas; digital architecture and content management, as per a report by Forbes India.

The first part is this investment focuses on creating a virtual showroom for the event while the second part focuses on expanding its technical skills, adds Chandok. LFW has engaged two companies to execute its ambitious digital plans. These include the 10-year old Gurugram-based startup Tagglabs, which focuses on new media and technology innovations for marketing; and Geometry Encompass, a 14-year-old experiential marketing agency that reimagines retail, under the WPP group aegis.

Creating a fantasy 3D world with advanced technologies

Tagglabs is helping LFW construct a fantasy 3D world to enable viewers discover new products and interact with each other. On the other hand, Geometry Encompass has added real-time compositing and motion tracking to green-screen stage shows. This will enable viewers to watch the show from different angles and vantage points.

Advanced technologies are being to ensure consumers with rich experiences even in completely virtual settings, says Ranjit Raina, CEO, Geometry Encompass. For the LFW project, the company created new teams, engagement planners, shooting crews, CG teams, post-production and account management from two cities.

Bengaluru-based AI startup BigThinx also created a virtual fashion show for the New Fashion Week. The show was organized by Fashioninnovation, an inclusive and global showcase featuring designers from the US, Italy, India, Dubai and Japan.

Set in a futuristic mega-city, the show featured plus-sized and racially diverse models, alongwith those with vitiligo, an amputee and one in a wheelchair.

Besides being sustainable and environment-friendly, a virtual fashion show costs 1 per cent of the cost of a real-world fashion show, says Shivang Desai, Founder, BigThinx, The startup recently signed three Indian designers for its other flagship products including 3D body scanning and virtual showrooms.

A tech boost for the sector

The luxury hospitality sector has been somewhat slow in adopting new technologies. However, the pandemic has accelerated the use of new technologies in the sector. Four-year-old automobile startup Adloid Technologies is now seeing demand at levels that it had projected to see in 2022. The company is being flooded with calls from car brands despite not having any marketing or PR initiatives, says Shorya Mahajan, co-founder, Adloid Technologies. It is experiencing a 20 percent month-on-month growth, and is on track to achieve $1.5 million in topline revenues for this year, adds Mahajan.

Currently, the company is working on a module to simulate a test drive. It aims to provide customers the experience of being in the driver’s seat right in their bedrooms.

Indore-based technology firm is getting multiple requests from hoteliers, architects and designers to eliminate multiple touch points within rooms, and replace them with a single touchscreen instead, which is quick to sanitize.The company serves a luxe clientele including the Armani hotels in Dubai and Milan, Bulgari in Paris, Raffles in Singapore, the Aman in New York, St Regis in the Maldives and The Oberoi, New Delhi, etc. It offers all kinds of guest-facing technologies—from reservations to check-out. It expects overseas operations to account for 95 percent of its revenues this year.

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Piyush Goyal, Minister for Commerce and Industry, and Consumer Affairs and Food & Public Distribution has been appointed as the new textile minister in place of Smriti Zubin Irani, Women and Child Development Minister.

Goyal assured that he would aim to improve the sector and boost exports to promote the government’s vision to develop Brand India. According to Invest India, the textiles and apparel industry provides direct employment to 45 million people and 60 million people in allied industries, according to Invest India, and contributes 5 per cent to India’s gross domestic product.

Goyal said that government aims to strengthen this sector by creating a synergy between commerce and industry. Goyal was earlier the Minister of Railways and Coal (2017-19). He has also held additional charge of Minister of Finance and Corporate Affairs twice in 2018 and 2019. Earlier he was Minister of State (Independent Charge) for Power, Coal, New & Renewable Energy from 2014-19 and Mines from 2016-17

The ongoing pandemic has given brands and retailers an opportunity to attract consumers with new and emerging technologies. Brands now need to move away from the previous policy of consumers coming to stores and bring their products closer to consumers. As per a CyberMedia report, this can be done by choosing the virtual world of retailing to sustain and succeed.

India is among one of the fastest growing e-commerce markets that makes it the largest global destination for fashion retail. The country’s logistical services ensure quick deliveries, encouraging consumers to boost their fashion purchases. Easy returns policy also encourages them to increase purchase while brands penetrate new towns and villages.

Lockdown raises demand for cotton knitted fabrics

India’s investments in fast fashion have been increasing for the last few years. New and innovative features have helped the industry increase production capacity and supply chain efficiency. However, COVID-19 has impacted the industry with lockdowns and restrictions on industrial operations have led to a drop in fashion production. Industry players have been struggling to tide over this crisis through cost rationalization.

Demand for cotton woven fabrics has declined in the last few months. However, demand for cotton knitted fabrics has increased due to a rise in ‘Work from Home’ culture. This trend is likely to continue over the next half decade as more consumers will shop for casual and comfortable clothes. Demand for reusable hygienic cotton masks will also increase as they will become a part of daily attire.

AR technologies to boost fashion purchases

To ensure consumers of the safety of fashion purchases, brands and industry players would have to incorporate AR technologies into their online fashion retail space. This will help them create trust in customers’ minds. Retailers would also have to adopt right pricing strategies to encourage consumers to buy.

By adopting these policies, the Indian fashion retail segment can not only bounce back from the pandemic effects but also cement its position in the global market.

13th October 2021, Mumbai:

The second edition of MensXP’s month-long online shopping festival will be held from October 15, 2021. The online event, organized by men’s fashion and lifestyle e-commerce platform ‘Newhood Shopping Festival’ will cover product categories like fashion and lifestyle goods, skincare, footwear, homewares etc. As per Fashion Network, the sale will be attended by MensXP’s private label brands including MensXP Mud, Fraternity, Mojama, MensXP Basics along with other popular brands like Beardo, True Elements, Mr Wonker, Wahl, Neemans, etc. It will offer facilities like free shipping and additional discounts on prepaid orders.

Owned by Times Internet, a part of the Times Group, MensXP was launched by Ankur Bhatia and Angad Bhatia in 2009 and currently retails over 250 brands across categories. It is India’s largest online men's lifestyle brand with over 15 million monthly active users on site and an average monthly reach of 45 million on its social media assets Its philosophy of “Newhood” has enabled MensXP to grow an inclusive community of progressive men that is reshaping the cultural norms of masculinity by driving conversations that no-one else would dare to.

In 2019, MensXP ventured into commerce with a curated marketplace and later entered the men's grooming products segment with its clean premium men’s beauty brand, ‘MensXP Mud’. MensXP is part of the Indiatimes Lifestyle Network, which also includes Indiatimes.com, iDiva.com and Whatshot.in.

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Bollywood actor Sanya Malhotra has been named as the new brand ambassador by direct-to-consumer (D2C) fashion brand Bewakoof. Malhotra will be seen promoting the brand in a series of digital videos.

As per Fashion Network, the association will help Bewakoof strengthen its connection with millennials and boost its visibility across the country.

Launched in 2012 by Prabhkiran Singh, Bewakoof claims to have a customer base of around 10 million. The brand had recently secured $4 million (Rs 29 crore) funding from IvyCap Ventures. The brand clocks sales of over 1 lakh products a month. Our innovation focus extends to our operations as well. It is vertically integrated, manufacture its own products, and cut out the middleman wherever possible. This direct-to-consumer model allows the brand to create high-quality fashion at affordable prices.

A thoughtful brand, Bewakoof actively attempts to minimise its environmental footprint and maximise social impact through initiatives like rainwater harvesting or paper packaging to employee benefits.

Flipkart has defended its stance of charging lower operating fees for sellers who reduce their products’ prices on the platform. The e-commerce company alongwith Amazon is locked in a court battle with the Competition Commission of India against the latter’s attempt to restart investigations into their business practices. Flipkart and Amazon have often been accused by brick-and-mortar Indian retailers of bypassing FDI rules to favor a few sellers and influencing products’ prices on the platform. However, both players have refuted these allegations.

Flipkart's counsel Harish Salve told a two-judge bench that the e-tailer sees nothing wrong in telling sellers they will be charged a lower fee, if they reduce their prices. However, Khandelwal criticized Flipkart’s stance saying, the FDI policy specifically provides marketplace should not influence prices.