Online Fashion Retail Market In India to grow by USD 22.97 billion from 2021 to 2026, the rise of social commerce to be a key trend in the market - Technavio

NEW YORK, March 14, 2023 /PRNewswire/ -- The online fashion retail market in India size is estimated to grow by USD 22.97 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 18.83% during the forecast period. One of the key trends influencing the growth of the online fashion retail market in India is the rise of social commerce. With major players like Facebook, Instagram, YouTube, Pinterest, and Snapchat, the social commerce platforms facilitate transaction-based social interaction and user experiences through their platforms. Social commerce provides a wide range of choices, along with shared user experiences and referrals, eventually impacting the consumers' decision-making. Through social commerce, retail, and e-commerce brands divert traffic to their retail websites, increasing their brand reach, and building customer trust. Hence, the growth of social commerce results in an increase in the number of e-commerce orders.

For more insights on the forecast market size (2021 to 2026) - Request a sample report

What's New?

• Recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!

Online Fashion Retail Market in India - Segmentation Assessment
Segment Overview

Technavio has segmented the market based on product (apparel, footwear, and bags and accessories) and end-user (women, men, and kids). 

• The market share growth in India by the apparel segment will be significant during the forecast period. The growth can be attributed to factors such as the high demand for apparel that is both fashionable and comfortable. Additionally, retailers also market their products to different consumer segments based on demand, which is further expected to drive market growth.

Insights on the market contribution of various segments including country and region wise, and forecast market size (2021 to 2026) - Download a Sample Report

Online Fashion Retail Market in India – Market Dynamics
Key factor driving market growth

• The rise in internet and smartphone penetration is considered to be a major driving factor for the growth of the online fashion retail market in India.
• According to the data provided by the Telecom Regulatory Authority of India (TRAI) in August 2021, the total number of internet users in India increased from 795.18 million people by the end of December 2020 to 825.30 million by the end of March 2021. 
• Many manufacturers in the fashion-related product segment started to sell their products through their own websites in addition to third-party online retailers. 
• For instance, Adidas AG, a German multinational corporation, sells its products through its own website, online stores, and third-party online retailers in India.
• Some of the key vendors in the online space, which have introduced mobile applications that are compatible with iOS and Android operating systems include Amazon.com Inc., eBay Inc., A. M. Marketplaces Pvt Ltd. (Limeroad), Walmart Inc. (Flipkart), Tata Group (TATA CLiQ), and Reliance Industries Ltd. (Ajio). 

Major challenges hindering the market growth

• The difficulty in retaining the loyalty of online customers is a major challenge impeding market growth during the forecast period. 
• The staff members help the buyers pick the right product or engage them in a way that may end in a successful purchase in an offline retail store. 
• However, when it comes to e-commerce and online stores, customers have complete control over their buying decisions, which becomes difficult for manufacturers and e-commerce vendors to engage customers.
• Additionally, if the webpage or mobile application is not appealing or interactive enough for the users, manufacturers lose potential or existing customers to their competitors. Hence, such factors are expected to impact the market growth negatively during the forecast period.

Insights on market drivers, trends, & challenges, and forecast period(2021 to 2026)- Request a sample report!

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

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the online fashion retail market in India between 2022 and 2026
• Precise estimation of the size of the online fashion retail market in India and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the online fashion retail market across India
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth in the online fashion retail market in India vendors

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports:

The fast fashion market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of 8.12% and a CAGR of 8.55% from 2021 to 2026. The market size is expected to grow by USD 49.13 billion during the forecast period. The burgeoning demand for fast-fashion clothing from the youth is driving the fast-fashion market's growth.

The online apparel retailing market is estimated to grow at a CAGR of 13.85% between 2022 and 2027. The size of the market is forecast to increase by USD 220 billion. The rising popularity of digital payment systems will fuel the growth of the online apparel retailing market. 

Browse for Technavio Consumer Discretionary market reports

Table of Contents

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product
• Apparel - Market size and forecast 2021-2026
• Footwear - Market size and forecast 2021-2026
• Bags and accessories - Market size and forecast 2021-2026
• Market opportunity by Product

Market Segmentation by End-user

• Market segments
• Comparison by End-user
• Women - Market size and forecast 2021-2026
• Men - Market size and forecast 2021-2026
• Kids - Market size and forecast 2021-2026
• Market opportunity by End-user

Customer landscape

• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• A M Marketplaces Pvt. Ltd.
• Adidas AG
• Aditya Birla Fashion and Retail Ltd.
• Amazon.com Inc.
• Clues Network Pvt. Ltd.
• eBay Inc.
• Reliance Industries Ltd.
• Snapdeal Pvt. Ltd.
• Tata Sons Pvt. Ltd.
• Walmart Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED