April 18, 2024
Fashion Ecommerce

India Fashion E-Commerce Market Is Estimated to Witness High Growth Owing To Rising Smartphone and Internet Penetration

The fashion e-commerce market in India has witnessed significant growth over the past few years. There is a wide variety of fashion products available online ranging from western and ethnic wear for men and women to kids wear, footwear and accessories. The comfort of shopping from home and availability of a massive catalog has made online fashion shopping an attractive option for consumers. Furthermore, growing focus of e-commerce players on tier-II and tier-III cities is also expanding their consumer base.

The Global Fashion Ecommerce Market Size Is Estimated To Be Valued At US$ 14 Bn In 2024 And Is Expected To Exhibit A CAGR Of 34.% Over The Forecast Period 2024-2031.

Key Takeaways

Key players operating in the India Fashion E-commerce are Myntra, Ajio, Flipkart, Amazon India, Nykaa, Meesho, Jabong, Snapdeal, Limeroad, Trendin. The online major players are focusing on private labels and expanding their product offerings. Furthermore, investments in logistics and supply chain is helping these players provide faster delivery.

The India fashion e-commerce market provides numerous opportunities for both domestic and international brands. The rising purchasing power, increasing preference for western clothing and expansion of companies into tier-II/III cities are supporting the growth of multiple brands. E-commerce platforms also provide various models like marketplace, inventory led etc which brands can leverage.

With growing internet and smartphone adoption, the online fashion shoppers in India are expected to reach over 100 million users by 2025. This growing customer base attracts major global retailers and domestic multi-brand stores to enter online sales channel or launch exclusive online stores. Companies are also exploring partnerships and mergers & acquisitions for geographic and product category expansion in the country.

Market Drivers

The key driver for the growth of India fashion e-commerce market is rising smartphone and internet penetration in the country. India currently has over 500 million smartphone users which is expected to further grow significantly. This widespread availability of smartphones and affordable data plans is supporting the increased consumption of online services like e-commerce, entertainment, social media etc. The huge young population of India adapts new online trends rapidly which encourages fashion e-tailers to invest more in the country.

Pest Analysis

Political: The Indian government has taken various initiatives like Digital India to promote the growth of ecommerce. It has also encouraged foreign investors to invest in the sector.

Economic: India has a large middle class population and rising disposable incomes which is driving the growth of the fashion ecommerce market. Customers now prefer online shopping over traditional retailers.

Social: Young population is increasingly adopting online shopping. Social media platforms are enabling fashion brands to engage with customers. changed lifestyles and exposure to global trends have increased fashion consciousness.

Technological: Increased smartphone and internet penetration along with affordable data plans have boosted online shopping. Applications of AI, analytics are helping fashion retailers provide personalized experience and improve supply chain efficiency.

Geographical Regions With Highest Market Share

Metros and tier I cities account for over 60% share of the total fashion ecommerce market in terms of value. Major metro cities like Delhi, Mumbai, Bengaluru, Chennai have high fashion consciousness and internet connectivity which has boosted online shopping. Tier I cities are also witnessing rising affinity for online shopping driven by growing aspirations of youth.

Fastest Growing Region

Tier II and III cities are emerging as the fastest growing region for India fashion ecommerce market. Increased internet and smartphone penetration coupled with availability of regional language interfaces on apps have made online shopping more accessible. Local players are tapping into this opportunity by focusing on these regions. Availability of affordable domestic and international brands is fuelling demand from smaller cities and towns.

What are the key data covered in this India Fashion Ecommerce Market report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the India Fashion Ecommerce Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the India Fashion Ecommerce Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behavior

:- India Fashion Ecommerce Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of India Fashion Ecommerce Market vendors

FAQ’s

Q.1 What are the main factors influencing the India Fashion Ecommerce market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top India Fashion Ecommerce Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the India Fashion Ecommerce market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1.       Source: CoherentMI, Public sources, Desk research
2.       We have leveraged AI tools to mine information and compile it