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21 December 2021, Mumbai:
Indian consumers spent more on fashion in 2021 than in the previous year says ZestMoney, buy now pay later online platform. Customers in the age group of 18 to 30 drive demand for online fashion.
The average ticket size of women transactions is 20 per cent higher than that of male transactions. Consumers prefer the buy now pay later method to finance their fashion purchases.
Debit, credit cards, and cash are the other popular options. Consumers love the flexibility and convenience of paying later for their fashion purchases.
Digitally savvy millennials and Gen Z are increasingly taking to pay later to fund their fashion needs. There has been a 100 per cent growth in transactions for the category with the merchant base doubling over the last three months.
Top Tier I cities driving the demand for fashion and beauty are Delhi, Bangalore, Mumbai, Hyderabad, and Pune. Top Tier II and III markets fuelling demand included Anantapur, Haridwar, and Kanchipuram.
E-commerce platforms remain the preferred means of buying for the majority of customers. They prefer online shopping due to the enhanced convenience and hassle-free experience it provides.
However, they are also comfortable purchasing in person at physical stores. Customers are making eco-friendly choices and supporting brands that endorse ethical fashion.
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