21 September 2023, Mumbai

The plus size clothing market in India is poised for rapid growth in the coming years, driven by a growing body positivity movement and rising obesity rates. A report by MarketDigits, a US-based business research and consulting company, forecasts the market to grow at a CAGR of 5.7% during the forecast period 2023-2030.

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The report attributes the growth of the plus size clothing market to a number of factors, including:

• Increasing awareness and acceptance of diverse body types
• Rising obesity rates, which have led to greater demand for inclusive plus-size clothing
• Growing demand for activewear and athleisure in plus sizes
• Increasing penetration of e-commerce platforms, which have made it easier for customers to shop for plus-size clothing
• Strong fashion marketing and promotional efforts by brands and celebrities

A number of established and new brands are now offering plus-size clothing in India, including FabAlley Curve, Alto Moda by Pantaloons, Gia by Westside, PlusS, ASOS Curve, Adidas, Nike, Puma, and Asos.

The growing trend of global consumers buying clothes that are not made for models but for real women who flatter their curves is expected to keep propelling the plus-size segment further over the next decade.

Short Message:

The plus size clothing market in India is a rapidly growing market with a lot of potential. Brands that are able to offer stylish and inclusive plus-size clothing are well-positioned to capitalize on this growth.

Gist; The plus-size clothing market in India is growing rapidly, driven by body positivity and rising obesity rates. Brands that offer stylish and inclusive plus-size clothing are well-positioned to capitalize on this growth.

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18 September 2023, Mumbai

Artificial Intelligence (AI) is transforming the Indian e-commerce landscape, with Direct-to-Consumer (D2C) brands leveraging AI-driven solutions to augment their earnings, elevate customer experiences, and substantially augment their average transaction values.

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Recommendation Engines: 

AI-driven recommendation engines scrutinize customer behavior and preferences to propose pertinent products or upsell opportunities. 

For instance, Flipkart harnesses recommendation engines to furnish personalized product suggestions, guided by a customer’s browsing and purchase history. 

Upon purchasing a smartphone, the recommendation engine can promptly propose compatible accessories such as phone cases, screen protectors, or headphones, thereby inflating the transaction value.

Chatbots and Virtual Assistants: 

AI-fueled chatbots offer real-time assistance to customers by answering queries, furnishing product insights, and steering them toward supplementary products or bundled offerings. 

For example, Myntra integrates chatbots on their digital platforms to guide customers in discovering the perfect attire and accessories. If a customer is on the hunt for a dress, the chatbot can intelligently suggest matching shoes, handbags, and jewelry, culminating in an increased overall expenditure.

Dynamic Pricing Algorithms: 

AI algorithms adeptly scrutinize market dynamics, competitor pricing strategies, and consumer behaviors to orchestrate dynamic price adjustments. Discounts and bundle deals are optimized in real-time to maximize revenue. 

For instance, food delivery platforms like Zomato and Swiggy harness dynamic pricing algorithms to offer discounts on orders placed during off-peak hours or bundle deals on multiple orders.

AI tools are exerting a profound influence on the Indian e-commerce market, enabling D2C brands to augment their earnings, elevate customer experiences, and stay ahead of the curve.

Gist 

AI is transforming Indian e-commerce, with D2C brands leveraging AI to boost earnings, elevate customer experiences, and augment average transaction values through recommendation engines, chatbots, and dynamic pricing.

Additional insights:

• AI is also being used by D2C brands to improve product development, supply chain management, and fraud detection.
• As AI continues to evolve, we can expect to see even more innovative and transformative applications in the Indian e-commerce landscape.
• D2C brands that embrace AI early on will be well-positioned to succeed in the rapidly changing e-commerce market. 

CREDITS: PRIYA LUTHRA l Entrepreneur report

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16 September 2023, Mumbai

India's clothing and lifestyle retailers are enjoying a prosperous streak as consumers expand their spending horizons during the ongoing festive season, which is projected to endure until the close of 2023.

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Retailers are implementing extensive discount schemes across various product categories with reduced price points and special festive packages at the core of their promotional and marketing strategies. This marks a welcome upswing following the post-pandemic spending slowdown.

The festive season, commencing with Onam in August and encompassing Ganesh Chaturthi, Durga Puja, Dussehra, Diwali, Bhai Dooj, and culminating with Christmas in December, interspersed with wedding festivities, promises to be the most remarkable one yet.

Study

Surveys tracking consumer spending trends indicate positive signs. Most reports and surveys are brimming with optimism about a lucrative festive season on the horizon. Discretionary spending in India is currently at a turning point, with per capita GDP hovering around the $2,500 mark, and numerous luxury brands witnessing substantial traction.

According to the Axis My India consumer sentiment index, approximately 22 percent of consumers plan to boost their spending on clothing, accessories, and lifestyle products this year.

Notably, overall household spending has surged by over 58 percent for most Indian families. While this represents only a 2 percent increase in the past two months, it stands as the highest growth rate in the past five months.

RAI

Festive fervor is driving this optimism. The Retailers Association of India (RAI) reports a decline in sales earlier this year, with April being the slowest month in the last 14, at just 6 percent. May and June followed suit, registering dismal growth of around 7 percent each. However, retail sales saw an upturn in July, reaching 9 percent, a trend that has persisted since, encompassing both discounted and full-priced products.

The festive season of 2023 is anticipated to contribute one-third of total retail sales, with retailers preparing to unveil their latest collections.

Data point; "The perception is that the upper-middle class and middle class are inclined to spend during festivals, which will drive a focus on premium products across various categories, from clothing and accessories to consumer durables and IT products. Consequently, we are forecasting robust growth of 10-11 percent," states Kumar Rajagopalan, CEO of RAI.

The era of discounts and clearing unsold inventory appears to be receding for now. After the post-COVID spending surge in the lockdown years, consumers began curtailing their non-essential spending, which included garments, accessories, lifestyle products, electronics, and dining out. This belt-tightening trend began at the end of 2022 after Diwali, primarily due to inflation, rising interest rates, job losses, and a sluggish economy.

Prominent departmental stores like Pantaloon, Shoppers Stop, Lifestyle, Centro, and numerous mall-based retailers were compelled to slash prices and offer substantial discounts to move stagnant inventory over the past 6-8 months, as consumers became more budget-conscious.

Observation

Devarajan Iyer, CEO of Lifestyle International, acknowledges that the past few months have been challenging, but they are now witnessing single-digit growth in same-store sales. Retailers have adeptly managed their inventory for the festive season, gauging the boost in demand.

The heightened demand for gift-giving to friends and family, further fueled by discounted prices and bulk purchases during the ongoing festive season, has given Indian apparel retailers renewed hope of generating sufficient profits to weather the remainder of the year.

India's Clothing and Lifestyle Retailers See a Boost in Sales During Festive Season

• Consumer spending is on the rise, with 22% of consumers planning to increase their spending on apparel, accessories, and lifestyle products this year.
• Retail sales have been improving in recent months, and are expected to account for a third of total retail sales during the festive season.
• Retailers are all set to launch their new collections and are forecasting a robust growth of 10-11% during the festive season.
• The increased need for gifting to friends and family is driving sales, and retailers are managing their inventory accordingly.

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20 September 2023, Mumbai

The Intertextile Shanghai Apparel Fabrics event of August 2023 provided a comprehensive snapshot of the textile industry's current state, with a particular focus on China. While the industry in China and some neighboring countries has witnessed significant changes, its fortunes vary. 

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Exhibitors from the Japanese and Korean pavilions reported challenges, while Taiwan and Hong Kong exhibitors expressed more optimism.

Sustainability emerged as a dominant theme at the event, with exhibitors and buyers alike showcasing their commitment to sustainable practices. AI and design trends were also on full display, with companies exploring new ways to leverage technology to drive the industry forward.

Here are some key takeaways from the event:

• Mixed fortunes in the textile industry: The textile industry in China and some neighboring countries is facing challenges, but there are also opportunities for growth.
• Sustainability takes centerstage: Sustainability is a top priority for exhibitors and buyers alike.
• Global participation and innovation: The event's global appeal was evident, with exhibitors and buyers from all over the world showcasing their innovative products.
• AI and design trends: AI and design trends are playing an increasingly important role in the fashion industry.

Overall, the Intertextile Shanghai Apparel Fabrics event demonstrated that the textile industry is undergoing a dynamic transformation. 

Businesses that adapt to changing consumer demands and embrace technological advancements will be key for businesses to thrive in this dynamic environment.

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17 September 2023, Mumbai

India's clothing and lifestyle retailers are gearing up for a bumper festive season, with consumers expanding their spending budgets after a pandemic-induced slowdown.

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Rain of offers

Retailers are offering huge discount schemes across different product categories, with lower price points and special festive packs as the base of their promotional and marketing strategies.

The festive season in India starts with Onam in August and covers Ganesh Chaturthi, Durga Puja, Dussehra, Diwali, and Bhai Dooj all the way till Christmas in December, interspersed by the wedding season.

Sweet spot

It is one of the most important times of the year for retailers, accounting for a third of total sales.

This year, consumer sentiment is positive, with many planning to increase their spending on apparel, accessories, and lifestyle products.

This is partly due to an increase in per capita GDP, which is now hovering around the $2,500 mark. Luxury brands are also witnessing significant traction in India, indicating a willingness to spend on premium products.

RAI

The Retailers Association of India (RAI) forecasts a robust growth of 10-11 percent during the festive season this year.

The association's CEO, Kumar Rajagopalan, says that the upper-middle class and the middle class are inclined to spend during festivals, which will drive focus to premium products across various categories.

Inventory Management; Retailers have managed their inventory levels well this year, after learning from the previous year when they were forced to offer huge discounts to clear unsold inventory. This is likely to keep margins healthy during the festive season.

Byouency

Overall, the outlook for India's clothing and lifestyle retailers is positive for the upcoming festive season.

With consumers eager to spend on new clothes and accessories, retailers are well-positioned to capitalize on the demand.

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14 September 2023, Mumbai

The global decorated apparel market is anticipated to reach US$ 99 billion by 2033, registering a CAGR of 12.9% from 2023 to 2033.

The market is driven by the growing demand for screen printing, embroidery, sublimation, and heat transfer work on garments. The rising demand for reflective finishes on clothing has also allowed businesses in the industry to grow.

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Key Trends

Sustainable and environmentally friendly practices: Growing customer awareness of ecological issues has led to an increasing demand for clothing that is decorated in an eco-friendly and sustainable manner. 

This includes consuming recycled or organic materials and environmentally friendly techniques and inks.

Advances in digital printing: Continuous advancements in digital printing technology, such as direct-to-garment (DTG), have made it possible to print high-quality full-color designs directly onto clothing. This gives more flexibility in customization.

Creative decoration techniques: 

Besides traditional methods such as screen printing and embroidery, new decorative techniques are emerging. These comprise sublimation printing, vinyl heat transfer, laser engraving, and other innovative methods.

Print-on-demand and small batch production: 

The print-on-demand trend allows production to be carried out on a smaller scale, deprived of the need for large inventories. This gives more flexibility to the business and reduces waste.

Sports and performance wear: The popularity of sportswear has influenced the decorated apparel market. The demand for performance fabrics and specialized decorative techniques suitable for sportswear is increasing.

Domination of e-commerce: 

Online platforms and e-commerce markets continue to play an important role in delivering decorated apparel. 

The ease of online shopping has reshaped how customers interact with this marketplace.

Regional Outlook

The global decorated apparel market is segmented by region into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is the largest market for decorated apparel, followed by Europe and Asia-Pacific. 

The growth of the market in North America is attributed to the increasing demand for customized apparel and the growing popularity of e-commerce. 

The European market is also growing rapidly due to the increasing awareness of sustainable and eco-friendly practices. 

The Asia-Pacific market is expected to grow at the fastest pace during the forecast period due to the rising disposable income and the growing popularity of sportswear in the region.

Competitive Landscape

The global decorated apparel market is highly competitive. The key players in the market are HanesBrands Inc., Gildan Activewear Inc., Bella + Canvas, American Apparel Inc., and District 78. 

These players are focusing on new product development, innovation, and strategic partnerships to expand their market share.

Sum & substance

The global decorated apparel market is expected to grow significantly in the coming years. 

The growth of the market is driven by a number of factors, including the increasing demand for customized apparel, the growing popularity of e-commerce, and the rising awareness of sustainable and eco-friendly practices.

CREDITS: Future Market Insights report

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19 September 2023, Mumbai

The global maternity innerwear market is expected to reach $7.1 billion by 2033, growing at a CAGR of 6.3% over the forecast period.

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This growth is attributed to a number of factors, including:

• Increasing demand for sustainable and eco-friendly materials in maternity innerwear
• Growing popularity of seamless designs that offer a smooth and comfortable fit throughout pregnancy
• Rising availability of fashionable and aesthetically appealing maternity innerwear options
• Expansion of inclusive sizing options to cater to a diverse range of body shapes and sizes
• Growing focus on versatility, with maternity innerwear that can seamlessly transition from day to night or accommodate different outfit styles
• Integration of advanced fabric technology for enhanced comfort, breathability, and moisture-wicking properties

Nuances

In addition, the growing number of working women who continue their professional careers throughout pregnancy has also contributed to rising maternity innerwear sales.

With more women choosing to work during pregnancy, there is a need for innerwear that provides comfort and support for long hours of sitting or standing.

Maternity innerwear with seamless construction and adjustable features delivers a solution to pregnant women.

They often require practical and comfortable undergarments that can be worn throughout the workday. Demand for professional-looking maternity innerwear that blends functionality with a polished appearance has grown worldwide. It is attributed to the trend of women balancing work and motherhood.

Surging emphasis on prenatal and postnatal fitness has also influenced demand for maternity innerwear. Several pregnant women are actively engaging in exercise routines and physical activities tailored to their specific needs. Maternity innerwear such as supportive bras and belly bands provide the necessary support and comfort during these activities. They allow women to maintain an active lifestyle while ensuring the safety of themselves and their growing baby.

Outlines

Demand for maternity innerwear that combines functionality with style has grown as more women prioritize staying active and fit during pregnancy.

Quick Gist; Global maternity innerwear market to reach $7.1 billion by 2033, driven by increasing demand for sustainable, stylish, inclusive, and functional options.

Overall, the maternity innerwear market is poised for significant growth in the coming years. The increasing demand for sustainable, stylish, inclusive, and functional maternity innerwear options is expected to drive market expansion.

CREDITS: Future Market Insights report

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16 September 2023, Mumbai

The global textile staples market is expected to grow at a CAGR of 5.5% from 2023 to 2033, reaching US$ 290.6 billion by 2033. 

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The key drivers propelling the growth of the market include:

Growing demand for sustainable textiles: Consumers are increasingly becoming more aware of the environmental impact of their clothing choices. As a result, there is a growing demand for sustainable textiles made from natural staple fibers such as cotton, wool, and jute.

Rising disposable incomes: 

Rising disposable incomes in developing countries are fueling the growth of the apparel and home textile industries, which are major consumers of textile staples.

Technological advancements: Technological advancements in the textile industry are leading to the development of new and innovative products made from textile staples. For example, recycled polyester is increasingly being used to produce sustainable clothing and other textile products.

Disadvantages Associated with the Use of Synthetic Fiber

Despite the many advantages of synthetic staple fibers, such as polyester and nylon, they also have some disadvantages that could slow the growth of the market. 

These disadvantages include:

Poor hygroscopicity: Synthetic staple fibers have poor hygroscopicity, which means that they do not absorb moisture well. 

This can make them uncomfortable to wear in hot and humid conditions.

Flammability: 

Synthetic staple fibers are flammable, which means that they can catch fire easily. This is a safety concern, especially for clothing and other textile products that are used in high-risk environments.

Ability to retain odors: 

Synthetic staple fibers can retain odors, which can make them unpleasant to wear.

2018 to 2022 Textile Staples Market Outlook Compared to 2023 to 2033 Forecast

The global textile staples market witnessed growth at a CAGR of 4.2% from 2018 to 2022. 

The growth of the market is expected to accelerate in the coming decade, driven by the factors mentioned above.

Demand Outlook for the United States Textile Staples Market

The United States textile staples market is expected to grow at a CAGR of 3.2% from 2023 to 2033. 

The key drivers of the growth of the market include:

A shift from commodity goods to specialized products: 

Textile manufacturers in the United States are shifting from producing commodity goods to specialized products such as technical textiles. 

This is likely to boost the demand for textile staples, as technical textiles are made from high-performance fibers that have specific properties.

Growing demand from the healthcare sector: 

The demand for textile staples from the healthcare sector is growing, driven by the increasing use of medical textiles in applications such as wound care, surgery, and drug delivery.

Why is China Considered the Most Remunerative in the Global Market?

China is the world's largest producer and consumer of textile staples. The country accounts for about 70% of the share of textile staples in East Asia. 

The rapid growth in the construction and industrial sectors in China is anticipated to propel the consumption of textile staples. 

As a result, China is expected to be the most lucrative market for textile staples over the forecast period.

Competitive Landscape

The global textile staples market is highly competitive, with a number of leading players such as DuPont, Eastman, and Lenzing AG. 

Key manufacturers are strategically increasing their global market presence by penetrating into emerging economies to set up manufacturing units to decrease operating costs and maximize profit.

Epilogue

The global textile staples market is expected to grow at a robust pace in the coming decade, driven by the increasing demand for sustainable textiles, rising disposable incomes, and technological advancements. 

China is expected to be the most lucrative market for textile staples over the forecast period.

CREDITS: Future Market Insights report

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13 September 2023, Mumbai

India's market for sports equipment, footwear, and apparel is expected to grow from around $27.89 billion in 2022 to $40.64 billion in 2027, with a strong Compound Annual Growth Rate (CAGR) of 7.82 percent.

There are several factors behind this impressive growth trend.

Increased awareness of sports and fitness

Many urban residents who used to be couch potatoes have started to adopt healthier lifestyles.

The rise of organized community activities and sporting events across the country has boosted the demand for sports and fitness products.

Easy availability of online retail platforms

Indian consumers have been exposed to stylish athleisure wear and accessories that offer both fashion and comfort.

Preference for athleisure wear over traditional clothing

Indians have started to mix athleisure wear with formal clothing, especially when it comes to footwear.

Conclusion

The sports equipment, footwear, and apparel market in India is expected to continue to grow in the coming years.

Increased awareness of sports and fitness

The increased awareness of sports and fitness among Indians is one of the key factors driving the growth of the sports equipment, footwear, and apparel market. 

This is due to a number of factors, including the growing popularity of fitness activities such as yoga, running, and cycling, as well as the increasing number of organized sporting events in the country.

Easy availability of online retail platforms

The easy availability of online retail platforms has also made it easier for Indian consumers to access a wide range of sports equipment, footwear, and apparel. This has led to increased competition among retailers, which has helped to drive down prices and improve the quality of products.

Preference for athleisure wear over traditional clothing

In recent years, there has been a growing preference for athleisure wear among Indians. 

This is due to the fact that athleisure wear is both stylish and comfortable, making it suitable for both casual and formal wear. 

This trend is expected to continue in the coming years, as more and more Indians adopt a healthier lifestyle.

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