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.

Video Insights

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

Latest Textile Events

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.

Video Insights

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.

Latest Textile Events

12 September 2023, Mumbai

Technology is transforming the fashion industry, with new innovations emerging all the time. Three key trends that are driving this change are AI-generated fashion, immersive fashion, and wearable robotics.

Video Insights

AI-generated fashion uses artificial intelligence to create new designs. AI algorithms can analyze large amounts of data on fashion trends, historical styles, and customer preferences to generate original ideas. 

This allows human designers to collaborate with AI to create even more innovative and creative designs.

Emerging-tech

Immersive fashion uses virtual reality (VR) and augmented reality (AR) to create new ways for consumers to experience fashion. VR allows users to enter a digital world where they can interact with clothing and accessories in a realistic way. 

AR allows users to overlay digital clothing on their own bodies to see how it would look. Immersive fashion makes shopping more convenient and fun, and it can also help consumers make more informed purchase decisions.

Wearables

Wearable robotics are garments that incorporate robotic technology. These garments can provide support, enhance performance, or offer health benefits. For example, robotic clothing could be used to improve posture, reduce pain, or even help people with disabilities. 

Wearable robotics has the potential to revolutionize the fashion industry, making clothing more functional and beneficial to wearers.

These are just a few of the ways that technology is shaping the future of fashion. As technology continues to evolve, we can expect to see even more innovative and creative ways to use technology in fashion.

Here are some additional thoughts on how technology is shaping the future of fashion:

• Blockchain technology is being used to create more sustainable and transparent supply chains. This will help to reduce waste and ensure that fashion products are made ethically.
• 3D printing is making it possible to create custom-made clothing at a lower cost. This will make fashion more accessible to everyone.
• Internet of Things (IoT) is connecting clothing to the internet, allowing it to collect data and interact with other devices. This could lead to clothing that can adapt to its environment or provide health monitoring.

Way forward; The future of fashion is full of possibilities, and technology is playing a major role in shaping it. We can expect to see even more innovative and exciting ways to use technology in fashion in the years to come.

Gist

Technology is revolutionizing the fashion industry, and the possibilities are endless. Emerging tech like AI-generated fashion, immersive fashion, and wearable robotics are changing the game.

AI-generated fashion uses artificial intelligence to create new designs by analyzing data on fashion trends, historical styles, and customer preferences. 

This allows human designers to collaborate with AI to create even more innovative and creative designs. Immersive fashion, on the other hand, uses virtual reality (VR) and augmented reality (AR) to create new ways for consumers to experience fashion.

VR allows users to enter a digital world where they can interact with clothing and accessories, while AR allows users to overlay digital clothing on their own bodies to see how it would look.

This makes shopping more convenient and fun, and it can also help consumers make more informed purchase decisions.

Wearable robotics is another emerging tech that's making waves in the fashion industry. 

Garments that incorporate robotic technology can provide support, enhance performance, or offer health benefits. For example, robotic clothing could be used to improve posture, reduce pain, or even help people with disabilities. This has the potential to revolutionize the fashion industry, making clothing more functional and beneficial to wearers.

But that's not all. Blockchain technology is being used to create more sustainable and transparent supply chains, helping to reduce waste and ensure that fashion products are made ethically. 3D printing makes it possible to create custom-made clothing at a lower cost, making fashion more accessible to everyone.

And the Internet of Things (IoT) connects clothing to the internet, allowing it to collect data and interact with other devices. 

This could lead to clothing that can adapt to its environment or provide health monitoring.

The future of fashion is bright, and technology is playing a major role in shaping it. We can expect to see even more innovative and exciting ways to use technology in fashion in the years to come.

Latest Textile Events

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.

Video Insights

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.

Latest Textile Events

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.

Video Insights

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

Latest Textile Events

12 September 2023, Mumbai

KKR invests Rs 2,069.50 crore in Reliance Retail Ventures Limited

This investment values RRVL at a pre-money equity value of Rs 8.361 lakh crore

KKR's follow-on investment will translate into an additional equity stake of 0.25% in RRVL on a fully diluted basis

Video Insights

RRVL, through its subsidiaries and associates, operates India's largest, fastest-growing, and most profitable retail business

RRVL's vision is to galvanize the Indian retail sector through an inclusive strategy serving millions of customers

Founded in 1976, KKR has approximately $519 billion in assets under management as of June 30, 2023

KKR's follow-on investment in RRVL furthers its relationship with Reliance Industries Limited

Here is a more detailed explanation of each subtitle:

• This investment values RRVL at a pre-money equity value of Rs 8.361 lakh crore. This means that the total value of RRVL, before the investment, is Rs 8.361 lakh crore.
• KKR's follow-on investment will translate into an additional equity stake of 0.25% in RRVL on a fully diluted basis. This means that KKR will own an extra 0.25% of RRVL after this investment.
• RRVL, through its subsidiaries and associates, operates India's most extensive, fastest-growing, and most profitable retail business. RRVL is a subsidiary of Reliance Industries Limited, and it operates a wide range of retail companies in India, including grocery stores, fashion stores, and electronics stores.
• RRVL's vision is to galvanize the Indian retail sector through an inclusive strategy serving millions of customers. RRVL wants to make retail more accessible and affordable for all Indians.
• Founded in 1976, KKR has approximately $519 billion in assets under management as of June 30, 2023. KKR is a global investment firm that has invested in a wide range of businesses, including technology companies, retail companies, and financial services companies.
• KKR's follow-on investment in RRVL furthers its relationship with Reliance Industries Limited. KKR has previously invested in Reliance Industries Limited's digital arm, Jio Platforms.

Latest Textile Events

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. 

Video Insights

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

Latest Textile Events

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.

 Latest Textile Events

09 September 2023, Mumbai

The textile recycling industry is on a trajectory to witness remarkable growth, with projections indicating a market value of US$ 4.8 billion in 2023 and an expected surge to US$ 6.6 billion by 2033, driven by a compelling CAGR of 3.2% during the 2023-2033 forecast period. 

Growing environmental concerns and innovative recycling technologies are driving the growth of the textile recycling market.

Video Insights

Key Market Trends and Highlights

Environmental concerns surrounding textile waste generation and heightened social awareness about textile recycling are set to propel market expansion. Government agencies and private enterprises are increasingly turning to textile recycling to address mounting textile waste management issues.

Notably, discarded textiles contribute significantly to the waste stream in the United States, prompting the government's initiative to achieve zero waste by 2037 through the Council for Textile Recycling (CTR).

Textile Recycling Market Key Drivers

Innovative recycling technologies, spanning mechanical, chemical, and enzymatic processes, are evolving to more efficiently process diverse textile materials. 

This advancement enables superior fiber separation, dye removal, and the production of high-quality recycled textiles. 

The concept of a circular economy is gaining traction, with brands and manufacturers integrating circular principles into their business models, driving demand for recycled yarn. Textile-to-textile recycling, where textiles are transformed into fibers for new fabrics, is on the rise, aided by AI-based automation and grading technologies

The surge of startups dedicated to textile recycling reflects the growing sector interest and investment, often introducing cutting-edge technology to address long-standing challenges. Furthermore, industry groups are launching campaigns to educate both consumers and businesses about the advantages of textile recycling, influencing behavior and fostering a sustainability culture.

Challenges in the Textile Recycling Market

Textile recycling presents unique challenges due to its composition of fibers, blends, dyes, and finished products, necessitating specific handling methods. 

The absence of standardized identification or labeling systems for textiles could pose growth impediments in the coming decade. Quality control also remains an issue, with contamination by non-recyclable items like buttons and zippers diminishing the value of recycled materials.

Comparative View of Adjacent Markets

In a comparative analysis, the textile recycling market is positioned to dominate among textile staples and air-laid textile markets during the 2023-2033 forecast period. Growing consumer demand for eco-friendly products and sustainability awareness opens opportunities for horizontal expansion among vendors.

Sustainable Practices Among Manufacturers Driving United States Market

The United States is expected to reach a market value of US$ 1.2 billion by 2033, boasting a CAGR of 3.1%. 

This surge in the textile recycling market stems from heightened awareness of textile waste's environmental impact and the growing imperative to divert textiles from landfills. As the world's top consumer of clothing and textiles, the United States generates significant textile waste, making recycling a crucial element of waste reduction strategies.

The market is experiencing rapid technological advancements, including improved sorting methods, chemical recycling processes, and the introduction of new recycled textile materials. Nonprofit organizations are actively promoting textile recycling and raising awareness among businesses and communities.

The United Kingdom Spearheads Circular Fashion in Europe

In the United Kingdom, textile recycling is gaining momentum, with a projected CAGR of 2.9% from 2023 to 2033, reaching a market size of US$ 247 million by the end of the forecast period. To address the fashion industry's substantial carbon footprint, the UK government has implemented measures to hold fashion businesses accountable for recycling costs and encourage sustainable design and labeling.

Leading initiatives such as the Sustainable Clothing Action Plan and Textile 2030 aim to reduce the environmental impact of the textile sector through science-based targets, driving the adoption of circular fashion practices.

Competitive Landscape

The global textile recycling market boasts a diverse mix of large and small-scale players, each employing various strategies to achieve growth. These strategies encompass technology development, expansion, mergers, and acquisitions to enhance market share, reach, and revenue.

In April 2023, Circ partnered with Zara to launch a women's clothing collection crafted from recycled lyocell and polyester extracted from mixed textile waste. 

Meanwhile, Lenzing Group introduced LENZINGTM ECOVERO with REFIBRATM technology in 2023, furthering its commitment to a circular economy in the textile and fashion industry. 

Birla Cellulose joined forces with TextileGenesisTM in May 2023, offering traceability and transparency solutions for the fibers and garments industry, emphasizing collaboration with brands and supply chain partners to scale its circular business model.

CREDITS: Future Market Insights report 

Latest Textile Events