03 December 2022, Mumbai

At the outset, it is not out of the place underscoring today the message that it is more of a business imperative for Apparel brands as like any other sector where the need to digitize to survive & thrive in an increasingly intrusive digital world is paramount.

Against the backdrop of evolving/ever-changing dynamic business environment in the wake of constant consumer demands, amid fierce competition; Knowing that the apparel industry inherently has a very intricate, complicated long global supply chain (GSCs) network. Given the dire need presently for global supply chains in the form of growth 'Investability Quotient (IQ)', simple business philosophy, Supply chain mapping technology, and work ethos filtering all the variables in pursuit of operational & manufacturing excellence.

The argument will go way beyond the floor to logistics meeting consumers' aspirations to adhere to social compliance standards, and regulatory requirements literally in all spheres of the corporate universe whereas the common denominator remains that tech-enabled solutions play a pivotal/coveted role like never before.

A globally famous quotable quote from Jonathan Byrnes, a renowned Professor, at MIT, “Many supply chains are perfectly suited to the needs that the business had 20 years ago.”

Technology trends shaping the industry

The execution challenge starts when you let technology take over and expect action-oriented, scientifically underpinned, and transformational as one bit is that intrusion of tech intervention needs the business leaders to be on the top of the agenda and in a mindset to replace the human interface with technology in part or complete for the technology good effects to play out in this diverse world.

Sourcing reimagined; Actionability in terms of pushing a concerted effort when the systems are falling apart under the multiple challenges of looming downward risk to growth, where supply chains are breaking down; the writing is very clear on the walls entrepreneurs need to take positions on the degree of tech intervention needed to mitigate/derisk business models building supply chain resilience, augmenting productivity, efficiencies, scalability when speed to market is the mantra to turnaround the business fortunes.

Times when transparency, traceability, and sustainability are the key issues. The growing sectoral influence of blockchain technology is evident and palpable and, there is a case for its intervention even in the apparel supply chains, the use of blockchain replaces the centralized conventional distribution system which may not be as great/robust with a decentralized immutable ledger which is so much easier integrating the supply chain stakeholders/actors that too all with the real-time information sounding music to ears as in nutshell it is a power of collaboration at play.

In the bargain, incredibly the blockchain serves a bigger purpose acting as a smart traceability aid/tool besides taking businesses meaningfully go down the road to sustainable growth.

ESG Technology Solutions

ESG technology facilitates business enterprises to go down the path of accomplishing ESG goals, digital enterprise solutions, and tech smart products to get workplaces more informed, sorted, agile, and nimble to respond to the dynamic business-changing landscape in the world's new emerging paradigm.

The pandemic has provided a wake-up call for investors and the climate change scenario has accelerated the adoption of environmental, social, and governance (ESG) investing. With the push for Sustainable Development Goals and the climate action movement gaining momentum, the sustainability framework is changing rapidly around the globe.

In India, ESG issues have become far more widespread as regulators are stepping up to the changes result of which proposed initiatives, procedures, and action plans for ESG frameworks and other related ESG standards will be turned out in the coming years.

As we move ahead the enterprise's success will depend on how well it checks the boxes right in this competitive landscape.

Latest Textile News

 01 December 2022, Mumbai

As Bangladesh celebrates 51 years of its independence this December having won this milestone under the unprecedented & remarkably outstanding leadership of the father of its nation Bangabandhu Sheikh Mujibur Rahman and the indomitable spirit & supreme sacrifices of 3 million martyrs whom the nation can never forget.

Momentous event

Historically December is not only the symbol of its national pride but also an envious inspiration making the nation what we know today brimming with confidence marching forward hitting new milestones as the country is soon expected to be robbed of the tag of LDC (Low developed country), as 'Bangladesh is scheduled to graduate on 24 November 2026 (states the General Assembly resolution)'. BGMEA's latest statement also echoes the mood mentioning that this is what makes us indomitable as a nation, underlining the nation's commitment and the spirit to devote all of us in letter and spirit better to our economic freedom. Furthermore, on the first day of this great month of victory, the nation throws back with serious respect and revere making Bangladesh world-ready and world Bangladesh-ready commemorating the memorial of all the heroes who valiantly sacrificed lives to help our great country earn independence/sovereignty.

Contextualizing in the run-up to the recently concluded maiden celebrated weeklong event of the famed Apparel industry namely ‘Made in Bangladesh Week 2022’ with the theme “Care for Fashion” demonstrating the true spirit of the nation called Bangladesh.

BGMEA in their official communiqué underpinned that the underlying aim of this humongous exercise was to create imagery and branding of the country's famed apparel industry and through the platform/forum let the wider stakeholders assemble, ideate, deliberate/interact through storytelling and chalk out the envisioned future roadmap/road ahead aligning the vision 2030 harmoniously.

The event was inaugurated by none other than Honorable Prime Minister Sheikh Hasina, M.P. who was the Chief Guest on 13 November 2022, and placing it on record the spirited event was the first public in-person event in previous over 2 years she attended. The No-brainer garment/RMG/apparel industry always takes prominence in Bangladesh's economic history given that the nation sees a lot of headroom in the apparel story in coming years.

Bangladesh's tryst with the apparel industry

Bangladesh is the second-largest apparel/clothes supplier to the EU and the world. The business environment thus far is optimistic and the fact of the matter is they are looking at seizing the emerging opportunity of "China Plus One Or Friend Shoring" evolving world's geopolitics landscape presents in the efforts to make the supply chain resilient. Placing it on record, the nation exports ‘Made in Bangladesh’ apparel in excess of 160 countries globally. The industry’s quest for excellence coupled with strong determination and concrete actions has earned Bangladesh glory as one of the safest, green, and ethical garment sourcing hubs in the world.

BGMEA: A vision for a sustainable future, a better future

According to BGMEA, Bangladesh's website," The readymade garments industry (RMG) has a catalytic action for the economic development of the nation and is a critical economic force multiplier since last few decades. The proud "Made in Bangladesh" tag has also brought fame, and glory to the country, earning it a prestigious place & stature connecting this brand across the global supply chains making it a credible partner to global brands, retailers, and wholesalers of repute through the years.

Furthermore, a nation, which was once termed by cynics a "bottomless basket" has now become a "basket full of wonders." The country with its limited resources in the textile supply chain and being dependant on key raw materials from other nations has incredibly been achieving a respectable 6% annual average GDP growth rate supporting it and bringing about remarkable social and human development in its changing economic and demographic landscape".

Latest Textile News

 29 November 2022, Mumbai

Over the last decade or two, technological advancements have accelerated assiduously and COVID-19 was just a turning point for smart technologies as a fundamental tailwind and paving the way to digital technologies applications super highway to emerge, enhance and improve novel ways of transacting through the last word has to be said.

E-commerce is expected to expand as more consumers shop online rather than going to physical businesses. The Covid-19 epidemic accelerated this trend. While more individuals are purchasing online, there are also changes in how people shop.

M-Commerce Architecture

M-commerce, also known as mobile commerce, is expanding quickly and is particularly well-liked by millennials and GEN Z consumers. Mobile payments can readily incorporate biometrics thanks to a device's built-in fingerprint security capabilities. For instance, customers can use their fingerprints to access apps like Google Pay and Kroger Pay. In its cashier-less stores.

Evolving Solutions

Amazon has disclosed that it is testing palm recognition software, which enables payments to be performed without the aid of a gadget. In 2017, Alipay tested facial recognition technology, making it available to users for payment processing.

Buy Now, Pay Later (BNPL)

In addition to digital wallets, BNPL is another payment option that is growing in popularity, particularly among younger shoppers. In recent years, BNPL has experienced tremendous expansion, a tendency further up by the Covid-19 epidemic. As it allows customers to make payments in numerous installments without penalties or interest, BNPL is positioned as a less expensive alternative to credit cards.

Fintech companies like PayPal, Affirm, and Klarna, the market leader, created and popularised BNPL. Since it is readily available with simple application procedures and accessibility offered by many new-age financial institutions like Klarna, BNPL fits well in online payments.

In the BNPL market, there has also been an explosion in the introduction of new products, with companies like Amazon and JPMorgan Chase launching BNPL services.

Blockchain

The most well-known application of blockchain technology is in cryptocurrencies. While most people generally only think of Bitcoin when they think of cryptocurrencies, there are over 9,000 different types. Stablecoins, privacy coins, utility tokens, security tokens, and others are among them; each has a unique purpose and set of qualities.

Ethereum, for instance, serves as the foundation for many decentralized financial apps and non-fungible coins (NFTs). Since 2020, cryptocurrency has gained significant attention primarily due to the unexpected increase Bitcoin saw during the lockout. Retail customers see it as a chance to transact.

Companies like Visa and PayPal have benefited from this perception by enabling customers to buy, sell, and store cryptocurrency on their platforms. Use-Case Model

By offering virtual apparel/clothing and accessories for their digital avatars, businesses and brands see NFTs as a way to market to customers who are digital natives and who are spending more time online. The Zepeto app is a world-building avatar software that enables users to create a virtual animation of themselves with changeable facial characteristics, hair, and garment/clothing.

Ralph Lauren, for instance, has introduced a line of digital attire. In-app purchases by users allow them to customize their avatars further. Such efforts will promote online payments, but the laws governing NFT copyright and patent infringement are still developing, and it is still being determined what the consequences will be.

Spotlight on Apparel Sector

This article assuredly has put out something which is not a new argument viz. 'Arrival of UPI moment'; A thesis highlighting and underscoring the changing payment habits amid the omnification of noteworthy contributions drawn both out of online retail and brick-and-mortal shoppers to adapt to the fast-changing digital transformation having a positive influence on purchase decisions for fashion apparel and quite certain it is a settled argument.

The worldwide apparel/garment manufacturing market was valued at USD 948.2 billion in 2020. It is expected to increase to USD 992 billion by the end of 2021, with the Asia-Pacific region accounting for more than half its value. The apparel business is one of the fastest-growing businesses in the world.

However, because manufacturers are hesitant to implement these changes, the industry needs to be faster to develop, particularly in the digital space. A group of solutions known as biometric technologies can help to strengthen the security of online payments while lowering transactional friction. Compared to password-based security, biometric identifiers like fingerprints, facial recognition, and voice recognition are challenging for cyber criminals to copy. This reduces the amount of online fraud.

But as consumers' needs for shorter fashion cycles grow and labor costs rise to match these demands, more firms are stepping outside their comfort zones to investigate digital alternatives for their operations.

Latest Textile News

02 December 2022, Mumbai

Industry leaders scarcely highlighted fast fashion during the COP27 summit, instead emphasizing the need for regulation and the use of renewable energy in factories. Even if the biggest names in fashion have committed to reducing their carbon footprint, quick fashion is currently all the rage.

Apparel/Clothing companies and manufacturers highlighted global warming at COP27 as a chance to show off their climate pledges. However, several acknowledged their commitment to cut emissions in half by 2030.

Stepping back into history when Marquee 'Global Brands Signed' up to the Fashion Industry Charter for Climate Action at the COP24 summit, 2018 pledging seriously to cut down emissions by 30 percent through 2030 at the same time ambitiously had set targets ahead of themselves to be net-zero emitters by say 2050.

It is like a chicken or egg story in some sense the thesis of pull or pushes in the apparel industry to go green if the consumer is sensitized as long as she has made an irreversible choice for opting for the green product then the key components of supply chain building blocks will start to fall into place.

Going gung-ho over Organic?

India is currently the world's top producer of organic cotton. Although organic cotton is expanding quickly, it still makes up a tiny portion of the overall cotton market—about 0.2% of the entire cotton production. Environment-friendly techniques and supplies are used to grow organic cotton. India overtook Turkey as the market leader after seeing its production rise by 292% to 73,702 metric tonnes, or over half of global organic cotton production.

As a result, organic cotton was produced on 161,000 hectares in 22 countries, yielding 668 581 bales or 145,872 tonnes. Syria, Turkey, China, Tanzania, the United States, Uganda, Peru, Egypt, and Burkina Faso are significant additional organic cotton producers.

Water Footprint in Textiles

The textile and fashion industry arguably is one of the water's thirstiest sectors as its long supply chain is regarded to be the heaviest water consumer from fibre production to finished product. The industry's environmental effect, however, is not only dependent on the amount of water it uses.

Since cotton can require a significant amount of water for irrigation, organic standards do not set water usage restrictions. The ethical treatment of cotton workers is another example. "Contrary to popular belief, most cotton is not environmentally friendly”.

Transparency & sustainability

Transparency in the supply chain is still essential. Consumers should ensure that everything they wear or use complies with reasonable standards and certification procedures and that it comes from an open and transparent supply chain.

Players must therefore comprehend the necessity for ecological or organic fabrics, "said Organic Exchange's Ms. Anne Gillespie. One of the best paths forward for the sustainable textile and apparel ((T&A) industry is the ongoing study into creating biodegradable and fully recyclable raw materials for textile and apparel/clothing manufacturing.

Although more expensive, biodegradable fabrics are a promising concept in theory. Despite starting from a tiny foundation, the demand for biodegradable polyester is reportedly expanding by roughly 30% annually.

Fiber Eco-Review

The article takes a serious note of evaluating when it comes to apparel/clothing, the rate of purchase and disposal has dramatically increased through the period.

Different strokes for different folks; Without proving any point Cotton, is one of the most commonly used and quite versatile fiber used in apparel/clothing making, with each step of the apparel/clothing life cycle leaving potential environmental impact & significant footprint.

Sustainable fibre; The logical argument is that wool is a natural and renewable protein fibre & unquestionably quite similar to any mainstream textile fibre of the textile industry. Wool is very environmentally friendly on the market but is frequently disregarded.

Wool uses less water and chemicals than cotton and is naturally renewable and biodegradable. It is also not made of petroleum. The case in point is, polyester another popularly used manufactured fiber, is made from petroleum which again leaves a potential environmental impact.

Additionally, wool has a "Wholesome image" that is frequently connected to animals but is challenging to define or measure, making it different from cotton, a plant.

Without making a B/W conclusion Sustainability, Recycling, and Circular Economy are the other forces exerting influence over the growth of the MMF (Man Made Fibre) Industry in the times when concepts like green financing as a unified policy to give money investors have amid growing concerns around ESG are quite a buzz.

Everything Old Is New Again

The presence of companies such as ThredUP and Poshmark that cater to the demand for inexpensive and ecological alternatives to new clothes will push growth in the coming years.

Cutting out the noise to bust a myth/stereotype meeting the holistic/well-rounded sustainability target is posed with enormous odds/super challenges for an industry of this size and scale anywhere globally, given that the apparel industry is saddled with long and complicated intricate supply chains running trans borders in most cases.

The new, long-lasting macro trends toward sustainability must be addressed by textile and apparel ((T&C) manufacturers or designers. Sustainability concern is central to the inherent value chain rather than being done as a marketing tool, but a way forward for direct future research to The March Ahead.

Retailers and brands are searching for specific characteristics in their new eco-textile programs. This is a long-term strategy for the world and business, not a fad.

Latest Textile News

30 November 2022, Mumbai

A global authority on Merino wool called "The Woolmark Company" owns the Woolmark logo, a prestigious quality assurance symbol incredibly applied to more than five billion products interestingly across numerous categories. The Woolmark is a legitimate uniquely positioned brand representing a commitment between woolgrowers, brands, and consumers on the authenticity/quality of the fibre through the decades and ranks amongst the most recognized logos embedded deeply in the minds and hearts globally in consumers' minds.

Differentiabilty

The article decodes the Merino wool longest considered unquestionably as the softest wool produced worldwide and considering this premium natural fibre's goodness been globally arguably the finest wool type. It is no more a well-kept secret that it has an inherent superlative range of natural qualities giving it an edge over the other varieties/types likes of ultra-soft nature of it making it a second-skin and the immaculate fall & drape quality is something unique to it.

Quality attributes

The short message here is that it is more of a fibre of choice today across seasons/continents/clothing needs anywhere in the world and the credit goes to Australia wool-growing community having an outstandingly advanced wool industry as a testament.

It does not surprise many this fibre is univocally admired, adored universally by fashion and apparel manufacturers, and designers for its unparalleled robust quality and distinct versatility, something enough to make it apt for multi-use cases spanning from luxury fashion to high-performance activewear, winterwear, and many surprisingly innovative applications.

Therefore, it is vital to outline and highlight its innate competitive characteristics within the wool space in the market are made it well-known to get it the premium it deserves.

Symbol of status

Despite the early-stage processing having relocated from Europe to China Wool predominantly enjoys premium ratings vis-à-vis other fibre types for the given feel-good luxury attributes and is perceived to be a value-for-money fibre.

Contextualizing this commercial imperative & the perceived positioning it enjoys in the consumers' mind in the markets considering that its maximum use and sales come out of western/developed/advanced economies/cold countries where an average per capita is quite supportive of wool's positive associations with outright luxury across multi-use cases such as apparel and so forth.

Nothing Changes if Nothing Changes

Sustainable fibre; The logical argument is that wool is a natural and renewable protein fibre & unquestionably quite similar to any mainstream textile fibre of the textile industry, and is open to the scrutiny of its environmental performance given the clamour of climate change getting only getting louder.

It is safe to assume in the case of 'Australian Merino wool', sustainability concern is central to the inherent value chain rather than being done as a marketing tool, but a way forward for direct future research to The March Ahead.

Latest Textile News

 29 November 2022, Mumbai

Business is after all to build the competitive advantage of any business enterprise/service provider/retailer and, is well described as in how exactly to deliver services or goods value offerings to the valuable customers with the expected satisfactory outcomes; building in effect enduring loyalty, enhancing well-designed customer experiences.

Customer value propositions; at the end of the day it is the customer who defines what is valuable and what is not defining intended value propositions and desired profitability as a win-win approach to champion customers in their value-creating consumption activities.

Customer Touch Points

Over the past two years, the COVID-19 epidemic has changed consumer preferences, routines, and attitudes. This significantly affects how consumers purchase and use products and services. Multinational retailers are now using modern business tactics to seize fresh retail prospects. Consumers no longer make the distinction between offline and online consumption channels.

Large corporations are experimenting with various strategies to create seamless retail experiences that are integrated across all channels as a result. Retailers are experimenting with income models to enhance consumer value by utilizing well-established e-commerce platforms and conventional methods.

Customer Experience Journey

The country's e-commerce market is steadily growing. Customers have a wide variety of things to choose from at competitive prices. The retail business is experiencing the most significant change ever, thanks to e-commerce, and this trend is expected to last for many years. Retailers could use digital channels to increase customer reach in tier II-III cities while spending less on physical estate.

Momentous E-Commerce business; Due to an increase in online shoppers in the nation, the online retail business in India is predicted to grow from an anticipated US$ 55 billion in 2021 to US$ 350 billion by 2030. By 2024, retail's online penetration is expected to increase from 4.7% to 10.7%.

Growth levers; However, the industry's long-term prospects appear promising, supported by increasing income, favorable demographics, the entry of foreign competitors, and increased urbanization.

Spoilt for choice

Any segment's purchasing habits can be separated into utility and luxury categories. But commercialization gives consumers a wide range of choices, allowing them to classify things purchased for utility according to their quality and cost. The idea of "Value Retail" satisfies this aspirational and financial need of the consumer by offering high street designs at reasonable rates for the masses, while luxury companies preserve their exclusivity by remaining present in a few key locations.

Value retail stores in this scenario achieve their revenues thanks to their extensive reach and distinctive target group segmentation. The fact that value retailers are able to keep their goods at competitive costs is remarkable in this case.

Genesis; Value retailing's origins can be traced to periods of market distress when survival depended heavily on innovation. A change in consumer purchasing patterns brought on by the recession led to negative growth in the retail industry. Customers set stringent spending limits and choose to purchase things at promotional sales at discount prices.

Cause and effect

Consumers who were accustomed to purchasing goods at discounts and with special offers have continued to do so as the world has recovered from the recession. They preferred to purchase high-quality goods at prices that were lower than those of branded goods.

The comeback of retail and larger size value retail concept stores were aided by this. Value retailing, a big format store concept today, sells branded goods and accessories at the greatest prices. Value retailing uses only 1.5x multipliers to give customers the most cost-benefit, in contrast to premium brands that employ 3x multipliers to recover their costs. This idea is mostly intended for Tier II and Tier III cities where retail establishments sell goods at reasonable prices.

How Consumers Are Responding To Inflation

Consumers today are looking for ways to lower their clothes purchasing costs and demand and expect high quality at low prices. They are looking for worth. Their buying tastes have changed noticeably, with a greater emphasis placed on product pricing.

Value retailing relies on the strategy of selling high-quality goods at wholesale costs to be successful. Any bargain retail store's products are on par with what luxury brands are now wearing for the season.

Marketing Strategic Planning; The Tier-II & III category may access the most recent trends and fashions from around the world thanks to discount merchants. A few businesses in the retail industry in India have entered the Tier-II & III category market. Some of the major companies in India are 1-India Family Mart, Vishal Mega Mart, and Easy Buy Retail.

The article attempts to resolve the duality of customer value proposition and the organization's perspective/key strategic role and its larger purpose in pursuit of building a sustainable competitive advantage as a give-and-take relationship rather than a mere transactional relationship.

Latest Textile News

02 December 2022, Mumbai

India is one of the largest producers and exporters of textiles worldwide. India's textile market was worth more than $100 billion in 2019–20, and its growing exports were worth more than $50 billion. The Indian government gives the textile industry the tools to compete on an international scale, draw investments, and create jobs. Additionally, to be a person's basic needs, textiles have evolved and grown into a fashion statement that generates enormous profits for businesses in India and worldwide.

Considering that the world's textile industry has the inherent capability to take millions of women and men out of impoverishment globally to potentially push for gender equality.

Sustainable Development Goals (SDGs)

All of the Sustainable Development Goals (SDGs) are enabled and accelerated by gender equality. Implementation of the 2030 Agenda concerning Sustainable Development with consideration for gender presents a chance to advance not only SDG 5 (gender equality) but also the other 16 SDGs.

The most coveted condition that our nation has always yearned for is gender equality in India. Gender equality is now a social and economic challenge and a moral imperative. Human growth and national development are both influenced by gender equality.

Despite being a country with many accomplishments, gender equality in India still receives relatively little recognition.

Advocacy and gender equality

The realization of human rights and SDs are both dependent on gender equality in India. The main goal of gender equality is to create a society where men and women have the same opportunities, obligations, and fairness throughout all aspects of life.

When men and women can equally participate in the distribution of authority and influence, there is equality between the sexes. They are equal, provided they have the same opportunities, financial independence, access to jobs and education, and the chance to pursue their personal goals, interests, and talents.

Gender equality and social inclusion

Gender equality is essential for national and development strategies because it empowers women to make choices that affect their general health and the health of their partners and families. For India to develop from all angles, gender equality is now more critical than ever.

“Reality bites”

Around the world, there are 60 million garment workers, and young women between the ages of 18 and 24 make up 80% of that group—the same age group as the millennial women who read Teen Vogue.

And while women on our respective sides of the globe use fashion to boost our self-esteem and freedom of expression, our voice is suppressed and marginalized in creating them.

She worries about getting paid equally, being sexually or physically harassed by her boss, and staying safe every day at work. We must first raise her by telling her story with respect.

What moves the needle

Gender equality is an undeniable reality. The unsung heroes of the industry are the women who create our apparel/clothing. While the glamorous images of fashion are constantly being presented to us, her story is kept hidden.

Bringing her story to light is one of Remake's primary goals to educate consumers about the human hands behind our apparel/clothing production. But we make it a point to introduce her as the strong, tenacious woman she is rather than as a victim. She is not timid or feeble.

Instead, she's a boss lady like many of us, working hard to provide for her family while dreaming of living her best life. We start to build awareness of the connection between promoting a more responsible supply chain and empowering women by bringing together women from both ends of the supply chain.

Another logical argument mooted by skill development trade experts is that Hiring women in supervisory roles can change the exploitative work culture of apparel/garment manufacturing also furthering the cause of achieving gender equality in the textile workplace.

Historically, a good chunk of the apparel/garment workforce has been young ladies with low/no skills/skillset, and quite common in rural/semi-rural migrant workforce where the apparel/clothing sector offers/serves low-hanging fruit opportunities as arguably within a matter of a couple of months one could become industry ready and good to go.

Latest Textile News

30 November 2022, Mumbai

Black Friday what we understand in the west is a sales weekend that comes after Thanksgiving Day and is broadly correlated with post-Thanksgiving and pre-Christmas shopping assumes significance in the annual shoppers' purchase calendar.

Over the years Black Friday phenomenon has somehow emerged as a notable marketing opportunity and as the fervour is catching up in India, it only gets bigger through the years turning out to be one of the best days for e-commerce/tailers to conduct sales every single year cashing in on customer demands on the back of enthusiasm it generates and resultant incremental eyeballs bring extra traffic, desired sales outcomes to their respective websites and in turn spurring the average footfall meaningfully.

Make no mistake the limited point article is trying to make is the term ‘Black Friday’ is a misnomer having no negative connection/connotation for that matter.

Indian shoppers are essentially bargain hunters

As trade essentially looks continuously to broaden its bucket size and ticket price to seize & build on opportunities coming their way and, increased exposure to netizen India through the period it has only come in as a fundamental demand tailwind for the brands & retailers alike sniffing the possibility of this facilitate draw massive crowds on the back of off-prices/discounted prices doing tricks.

Growing Americanisation in India

Brands and retailers have been trying to piggyback creating Black Friday sale events as we start to see harmonization/amalgamation of "Global Shopping Culture" in India for the past few years.

Electronic goods and smartphone makers, e-commerce platforms, grocery stores, fashion brands, restaurants and cafes, multiplexes, hotels, and malls have clambered aboard the Black Friday bandwagon. Many are extending the sale period over the weekend to the start of next week or Cyber Monday, originally coined for e-commerce sales.

Catch the piece of the action

The article is an attempt to get into the exercise of historic data crunching giving insights into its performance trail through the previous decade or two of holiday sales drawing data from the National Retail Federation (NRF), anecdotally it is an opportunity in the making with an annual spending increase averaging around Black Friday centric opportunity to be 3.5 percent.

And interestingly the aggregate spending of the corresponding year showed an increase growing to 886.7 billion US dollars.

There was a 20 percent to 25 percent surge in footfalls and business by Friday evening and this was expected to rise further over the weekend. Brands and platforms are hoping to create another consumption event along the lines of Republic Day and Independence Day sales that were launched over a decade back.

Some retailers have been seeking to popularise Black Friday over the past few years.

Marketers are looking to create events by giving some discount as it works as a demand aggregator wherein Black Friday and Cyber Monday are their latest bet.

Shoppers Come Out In Droves

These events create a consumer need & want considering that we are living in an inflationary environment where saving money is important/imperative to customers.

It’s how Republic Day, Independence Day sales, or even a regional occasion like Akshaya Tritiya has been created as a national sales day.

Most of the MNCs already know Black Friday, so it’s easy for them to replicate it in India given that brands, retailers, malls, and e-tailers respond by coming out with value propositions/offerings in the form of strong sales-promotional campaigns, in the anticipation of driving incremental buying/purchases.

Latest Textile News