02 September 2023, Mumbai

Retail sales in India have grown 9% YoY, as reported by the Retailers Association of India (RAI). QSRs, food, grocery, jewelry, and sports goods were the main drivers of growth, while apparel sales grew 8%. The report also indicates a rise in online-to-offline shopping.

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Data points

South India saw the highest growth at 12%, followed by West India at 9%.

Apparel sales grew 8%, whereas End-of-season sales boosted sales in July. Retailers saw an uptick in business activity in the final week of July. 

This was largely attributed to the commencement of their end-of-season sales. 

End-of-season sales boost sales in July

Retailers saw an uptick in business activity in the final week of July, largely attributed to the commencement of their end-of-season sales. 

This is in line with the global trend, as apparel retail sales have surged in the US and other countries.

Online-to-offline shopping becoming common

As consumer routines return to normalcy, a pattern of online-to-offline shopping is emerging. Customers are exploring products online but making purchases in physical stores. 

This is a positive sign for the retail industry, as it suggests that consumers are still willing to shop in person.

Apparel retail surges globally

2022 has been a good year for fashion retailers across the globe. Sales revenues of apparel retail in the US increased 36.37% over 2020. Growth continues in 2022 with apparel retail sales surging 13.76% from January to April ’22 to $81 billion. 

This is due to a number of factors, including the return of social events, the increasing popularity of athleisure, and the growing demand for sustainable clothing.

Retailers in India hope for a good festive season

This year’s festive season is expected to be different from the last two years as there are no COVID-19 restrictions. 

Footfalls at both standalone retail outlets and shopping malls are expected to increase steadily. Retailers are optimistic about the upcoming season and are gearing up to meet the demand.

Prognosis

Early indications suggest that the upcoming festive season will be a busy one for retailers

Online-to-offline shopping becoming common

Phydigital 

As consumer routines return to normalcy, a pattern of online-to-offline shopping is emerging. Customers are exploring products online but making purchases in physical stores. Brands are actively working to create a favorable shopping environment for customers as confidence keeps improving by the day given pre-festive season sales.

Conclusion

The Indian retail industry is in a good position to capitalize on the upcoming festive season. With no drastic curbs required, shopping malls can anticipate big crowds and retailers can look forward to a good season by adhering to all COVID-19-related norms.

Let's hope Diwali will come early this time!

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31 August 2023, Mumbai

Challenges Faced by the Garment Industry

To Overcome Challenges and Grow; The garment industry in Bangladesh is facing a number of challenges, including rising costs, increasing competition, and changing consumer preferences. 

Despite these challenges, the industry is investing in new technologies to improve efficiency, reduce costs, and stay ahead of the competition.

Context

The garment industry in Bangladesh is facing a number of challenges, but it is also investing in new technologies to overcome them.

The investment in new technologies will help the industry to improve efficiency, reduce costs, and stay ahead of the competition. This will help the industry to grow sustainably and competitively, and overcome the challenges it faces.

Investment in New Machinery and Technology

Eight leading garment companies in Bangladesh are investing Tk12,000 crore (US$1.2 billion) in new machinery, recycled fibers, and robotic technology. 

This investment will create 50,000 new jobs and help the industry to boost production and exports.

Benefits of the Investment

The investment in new technologies will have a number of benefits for the garment industry, including:

• Increased production efficiency: The new machinery will be more efficient and use less energy, which will help to reduce costs.
• Reduced costs: The use of recycled fibers and robotic technology will also help to reduce costs.
• Improved quality: The new technologies will help to improve the quality of garments, making them more competitive in the global market.
• Increased exports: The improved quality and efficiency of garments will help to boost exports.
• Creation of jobs: The investment will create 50,000 new jobs in the garment industry.

Optimism about the Future of the Industry

Industry leaders are optimistic about the future of the garment industry in Bangladesh. They believe that the investment in new technologies will help the industry to overcome its challenges and grow further.

Commitment to Sustainability

The investment in sustainable technologies is also a reflection of the industry's commitment to sustainability. 

Bangladesh is a signatory to the Paris Agreement on climate change, and the garment industry is playing its part in reducing emissions and protecting the environment.

Short & long

The investment in new technologies is a major step for the garment industry in Bangladesh. 

It will help the industry to grow sustainably and competitively, and overcome the challenges it faces.

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26 August 2023, Mumbai 

The growing consumer awareness regarding sustainable and environmentally-friendly clothing is fueling an increase in the demand for clothing repair and re-wear services by high-end brands worldwide.

What all you need to know

Reference to context 

Growing consumer demand for sustainable fashion is driving the adoption of scalable repair services. Japan is a leader in this space, and governments are promoting repair services to reduce waste.

Challenges of providing repair services

Employing the principle that a timely fix prevents greater issues, numerous prominent fashion companies are establishing scalable and profitable after-sales repair services to extend the lifespan of their products. This endeavor comes with challenges related to logistics and workforce management, which they are actively overcoming.

The role of Japan in the repair and recycling sector

Leading the forefront of this movement is Japan, where local brands have long been engaged in repairing traditional kimonos through in-house services. They are now expanding this restorative ethos globally by collaborating with international brands.

The global adoption of repair services

On a global scale, premium brands including Patagonia, Nudie Jeans, Zara, Levi’s, and Uniqlo, among others, are introducing repair services with a strong focus on sustainability and waste reduction.

Even fast-fashion giant Uniqlo now offers repair services at select stores in Japan, specializing in tasks like mending tears, adding embroidery to existing clothing items, conducting alterations, and addressing issues like torn puffer jackets and damaged jeans.

Government initiatives to promote repair services

Similar initiatives are emerging in Europe as well. The French government recently announced plans to subsidize clothing and shoe repairs to minimize waste starting from October 2023. Inditex, the company behind Zara, is expanding repair services across major markets and has already introduced mending services in Britain. 

H&M has partnered with a startup for its 'Close the Loop' program, encouraging customers to deposit used clothing in in-store recycling bins and receive vouchers for future purchases. 

Similarly, Sephora has launched 'Beauty (Re) Purposed' to address hard-to-recycle packaging waste, successfully reaching its target audience and driving profits.

Challenges of the repair-and-re-wear apparel sector

Nevertheless, major retailers are grappling with a shortage of skilled labor as they strive to meet the growing demand for clothing repair and re-wear. This segment requires specialized skills and focused effort, which many young employees are not inclined to pursue. 

Additionally, the prevalence of affordable fast fashion means that the average middle-class shopper might not have the financial means or motivation to invest in repairing old garments. 

The repair-and-re-wear apparel sector promotes brand loyalty and longevity, yet it remains a niche market that is just beginning to gain momentum.

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01 September 2023, Mumbai

The custom t-shirt printing market is estimated to be worth $3.88 billion in 2023 and is projected to reach $9.88 billion by 2033, at a CAGR of 9.7% from 2023 to 2033.

Key Drivers

The growth of the custom t-shirt printing market is being driven by a number of factors, including:

The rising preference for customized, fashionable, and unique clothing.

The increasing disposable income of young people.

The growing popularity of outdoor sports and other industries.

The use of custom-printed t-shirts to raise social awareness, voice one's opinion, and support a cause.

The growing popularity of e-commerce and the expansion of the apparel industry.

Key Trends

Some of the key trends in the custom t-shirt printing market include:

The increasing use of digital printing techniques.

The growing popularity of pre-printed custom t-shirts.

The expanding demand for unisex t-shirts.

The growing popularity of online sales.

Key Regions

The North American region is the largest market for custom t-shirt printing, followed by Europe and Asia Pacific. The market growth in these regions is being driven by the factors mentioned above.

Key Players

Some of the key players in the custom t-shirt printing market include:

Spreadshirt

CustomInk

Printful

Teespring

Redbubble

CustomCat

Short Message

The custom t-shirt printing market is expected to grow in the coming years, driven by the abovementioned factors. The market is expected to be more competitive in the coming years, as new players enter the market and existing players expand their offerings.

CREDITS: Future Market Insights (FMI) report

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28 August 2023, Mumbai

According to an analysis conducted by IGP, a prominent direct-to-consumer gifting platform, non-metropolitan customers constitute approximately 50% of the online shoppers purchasing rakhis and gifts for Rakshabandhan.

The remaining 50% of buyers originate from metropolitan cities.

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Delhi, Mumbai, Bengaluru, Hyderabad, Pune, and Lucknow are the top cities for online Rakshabandhan gift shopping. The cities at the forefront of online Rakshabandhan gift shopping are Delhi and Mumbai, followed by Bengaluru, Hyderabad, Pune, and Lucknow.

Nevertheless, a significant number of non-metro locations contribute to the overall pool of buying locations.

Perspective 

50% of Rakshabandhan gift buyers are from non-metro cities, most are in the 25-34 age group, NRIs make up 29%, rakhis + sweets are the most popular.

Most buyers are in the 25-34 age range

• Within the buyer demographics, the majority, accounting for 33%, fall in the age bracket of 25 to 34.
• This phase represents a period when buyers typically begin to possess substantial disposable income.
• The subsequent largest buyer group falls within the 18 to 24 age range, constituting 23% of the total buyers.

Women make up only 56% of the buyer base

• Despite Rakshabandhan's association with sisters tying rakhis to their brothers, women constituted only 56% of the buyer base.
• This disparity can be attributed, in part, to the broader internet access enjoyed by men in India, which enables them to partake in online buying decisions even if not directly involved.

Non-resident Indians (NRIs) make up a substantial 29% of the buyer demographic.

Furthermore, the analysis highlighted that non-resident Indians (NRIs) comprised a substantial 29% of the buyer demographic, sending gifts to their relatives in India.

Rakhis accompanied by sweets are the most popular items

• In terms of the purchased items, rakhis accompanied by sweets proved to be the most favored, closely followed by rakhis with dry fruits and those paired with chocolates.
• Additionally, items from the "Gifts for Kids" and "Gifts for Brothers" categories gained popularity.
• Among the sweet offerings, Kaju katli, a cashew nut and sugar-based Indian delicacy known for its extended shelf life, emerged as the preferred choice.
• Notably, 5% of buyers chose to personalize their gifts, adding a unique touch.

Semi-precious stone rakhis are the top sellersConcerning the types of rakhis selected, those adorned with semi-precious stones were the top sellers, trailed by traditional rakhis featuring Kundan & meena patterns, pearl rakhis, Bhaiya-Bhabhi Rakhi with lumba, and Rajwada work designs. 

Rakhis intended for children and spiritual rakhis also garnered significant interest.

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23 August 2023, Mumbai

Apparel Imports

In June 2023, apparel imports fell by 23% year-on-year to $6.6 billion in the US. China's share of the US apparel import market decreased by 5% since 2021.

In June 2023, apparel imports also declined by 10% year-on-year to $7.0 billion in the EU. Bangladesh's share of the EU apparel import market increased by 2%, while China's share decreased by 3% since 2021.

In June 2023, apparel imports in the UK rose by 5% year-on-year to $1.9 billion. China's share of the UK apparel import market decreased by 6% since 2021.

In June 2023, apparel imports in Japan were unchanged at $1.6 billion, both year-on-year and year-to-date. 

China held a 51% share of the Japanese apparel import market.

Retail Sales

In July 2023, US monthly apparel store sales increased by 5% year-on-year and year-to-date to $18.2 billion. 

Home furnishing store sales decreased by 10% year-on-year and by 1% year-to-date to $4.7 billion. Online sales of clothing and accessories grew by 1% in Q2 2023 compared to Q2 2022.

In July 2023, UK monthly apparel store sales increased by 3% year-on-year to £3.7 billion. Online sales of clothing grew by 10% in Q2 2023 compared to Q2 2022.

India's Apparel Exports; Exports decreased by 21% year-on-year to $1.1 billion in July 2023.

Key Takeaways

Apparel imports fell in the US, EU, and UK in June 2023, but remained unchanged in Japan.

China's share of apparel imports declined in all markets except Japan.

US apparel store sales increased in July 2023, while home furnishing store sales decreased.

UK apparel store sales increased in July 2023, and online sales of clothing grew.

India's apparel exports decreased in July 2023.

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26 August 2023, Mumbai

The Commerce and Industry Ministry is finalizing the national e-commerce policy, which will consider the interests of all stakeholders and address data localization and other regulatory concerns.

The final draft will not be issued for public feedback. 

Instead, it will be presented to the highest levels of government for final approval.

What all you need to know

Policy to consider interests of all stakeholders

The policy will consider the interests of all stakeholders, including investors, manufacturers, MSMEs, traders, retailers, startups, and consumers. 

It will aim to create a conducive environment for the holistic and harmonious growth of the e-commerce sector. The policy will also address data localization and other regulatory concerns.

Background

The Commerce and Industry Ministry has been working on a national e-commerce policy for several years. 

Two drafts of the policy were released in 2018 and 2019. The 2019 draft covered six key aspects of the e-commerce ecosystem:

Data: The policy proposed restrictions on cross-border data flow and requirements for e-commerce platforms to store sensitive data locally.

Infrastructure development: The policy called for investments in e-commerce infrastructure, such as warehouses and logistics facilities.

E-commerce marketplaces: The policy proposed measures to prevent preferential treatment of certain sellers on e-commerce platforms.

Regulatory concerns: The policy addressed a range of regulatory concerns, such as the sale of counterfeit goods and restricted items.

Stimulation of the domestic digital economy: The policy aimed to stimulate the growth of the domestic digital economy by promoting the use of e-commerce by businesses and consumers.

Promotion of exports through e-commerce: The policy aimed to promote the export of goods and services through e-commerce.

The ministry has held extensive discussions with stakeholders on the proposed policy, including e-commerce companies, traders, and consumers. A significant level of consensus has been reached on the policy, and it is now being finalized.

Cross over

The draft included discussions on measures such as cross-border data flow restrictions, handling sensitive data locally before storing it abroad, and measures to combat the sale of counterfeit goods, restricted items, and pirated content.

Consultative approach; The ministry has held extensive discussions with representatives from e-commerce companies and a domestic traders' association on the proposed policy. 

A significant level of consensus has been reached among the concerned parties. The focus is now on obtaining final approval for the policy.

E-commerce policy in place

Once the policy is approved by the government, it will be implemented. 

The national e-commerce policy is a significant step towards regulating the e-commerce sector in India. 

The policy is expected to create a conducive environment for the growth of the sector and protect the interests of all stakeholders.

Gist

Finalizing: The policy is close to being finalized.

Cater: The policy will cater to the interests of all stakeholders.

Favorable: The policy is expected to create a favorable environment for the sector.

Address: The policy will address concerns around data localization.

Regulatory: The policy will also address other regulatory issues.

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23 August 2023, Mumbai

Fashion is often seen as a frivolous and superficial industry, but it can also be a powerful tool for social justice. 

Designers, brands, and consumers can all use fashion to raise awareness about important issues, challenge stereotypes, and promote ethical and sustainable practices.

What all you need to know

Here are some specific examples of how fashion has been used for social justice:

Raising awareness: 

The fashion industry has used its platform to raise awareness about climate change, poverty, and human rights abuses. 

For example, the Fashion Revolution movement encourages people to question where their clothes come from and to demand more ethical practices from the fashion industry.

Breaking stereotypes: 

Designers have used fashion to challenge traditional gender roles and promote body positivity. 

For example, the Aerie Real campaign features models of all shapes and sizes, challenging the idea that there is only one ideal body type.

Empowering marginalized groups: 

Fashion designers have created collections that celebrate the diversity of cultures and identities. For example, the Black Panther collection by Off-White was inspired by African culture and heritage.

Promoting ethical and sustainable practices: 

There is a growing movement in the fashion industry to adopt more ethical and sustainable practices. 

This includes using recycled materials, paying fair wages to workers, and reducing the environmental impact of the industry.

How can you use fashion for social justice?

There are many ways that you can use fashion for social justice. Here are a few ideas:

Support brands that are committed to ethical and sustainable practices. There are many brands that are working to make the fashion industry more ethical and sustainable. 

By supporting these brands, you can help to make a difference.

Be mindful of the impact of your clothing purchases. 

When you buy clothes, consider the environmental and social impact of your choices. 

Choose clothes that are made from sustainable materials and that are produced in ethical factories.

Get involved in fashion activism

There are many ways to get involved in fashion activism. You can volunteer for a fashion-related non-profit organization, sign petitions, or spread awareness about ethical fashion on social media.

Fashion is a powerful tool that can be used to make a difference in the world. By being mindful of the choices we make, we can use fashion to promote social justice and create a more equitable future.

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