India's apparel & footwear market is poised for 11.28% CAGR growth, fueled by social media
18 May 2023, Mumbai
The Indian apparel and footwear market is set to experience substantial growth from 2023 to 2028, with an estimated compound annual growth rate (CAGR) of approximately 11.28%, according to QuadIntel.
In recent years, the apparel and footwear industry in India has witnessed noteworthy trends. One prominent trend is the escalating demand for sportswear and comfortable casual clothing, largely influenced by the COVID-19 pandemic. Consequently, there has been a surge in the market for occasion-based casual wear made from stretchable and breathable materials, with a strong emphasis on comfort.
A key driving force behind the growth of the apparel and footwear market in India is the profound impact of social media on consumer purchase patterns. As consumers spend more time on social networking sites, they gain greater awareness of brands and their offerings. This increased exposure to different brands and their products has significantly influenced consumer preferences and buying behavior.
