Monday, 9 March 2015

The Fashion Industry in India

According to a report the Indian Fashion Industry constitutes five percent of India’s consumption expenditure. It is expected to grow considerably over the next ten years. The consumption expenditure of about 200 billion dollars is expected to be reached by the year 2020. Indian people go shopping for clothes mostly during occasions such as festivals, weddings and birthdays. Almost eight out of ten Indians purchase clothes during festivals. This is closely linked to people with higher income levels. People are more likely to shop for clothes during a sale or for replacing a worn garment. 

Buying clothes based on person’s emotional state or changes in the season can vary significantly. The quality of fabric and brand are some of the most important criteriafor both men and women while selecting clothes to buy. How long the clothes will last and how well they fit are some of the other aspects that are consideredwhile shopping for clothes in the market. Young affluent people show similar preferences and consider comfortable fitting apparel as an important criteria while selecting clothes. In contrast to that the average person would give more importance to durability and would be more price conscious. These consumers consider comfort to be less important while making a purchasing decision. While brand is an important criteriawhile selecting clothes, many customers do not shop with a particular brand in mind. Indian women and men have stated that they were not sure which brand they would like to buy when visiting store. This indecisiveness was similar across different types of apparel like business wear, casual wear and Western wear.A shopper’s awareness of private labels is comparable to other apparel brands. They also actively consider private label brands while purchasing. 

For this reason, apparel is a level playing field. It gives an opportunity for private labels and store brands to entice shoppers and get them to spend more than they normally would. A majority of Indian shoppers shop for clothes every two or three months. It is noticeable that these people tend to visit stores of all formats with similar consistency while shopping. This is common for both the affluent and regular shopper. With the objective of giving new skills to young students and emphasizing on employability and entrepreneur skills, FDDI has made it a priority to promote growth in the Fashion Industry.

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