Consumer repetitiveness towards online fashion retail
With online shopping, you can find your favorite shoes or clothes on a shopping app in an instant or in minutes instead of waiting days at your local store. It shows how fast technology and people have advanced over time. It gave its consumers a break from the crowds and made it more convenient and relaxing to place an order with just the touch of a finger.
The retail market has noticed revolutionary changes and opportunities for merchants and consumers. As the pandemic wreaked havoc around the world, people began to dig deep into their online shopping. Shopping online is a growing trend in the dot-com era. The world of internet shopping has become an excellent platform to attract customers from all over the world.
The fashion industry has made a massive shift towards online shopping, making its products more accessible to many people. The many opportunities fueling this growth include expanding international trade, increasing smartphone penetration, and leveraging the reach of celebrity and influencer culture.
Fashion brands that have thrived on online platforms
From Doodlage to aastey, many brands and newly opened brands are opting for online shopping as it is the most convenient way to buy for sellers and buyers. During the pandemic, the demand for sportswear has increased as more and more people want to look good during home workouts. ‘aastey’, an online brand, emerged and provided its consumers with wellness sports and leisure. Other brands such as Urban Suburban, Nori, Basque, etc. have also made their appearance in the fashion industry. These brands breathed new life into their consumers and competed with high-end fashion brands.
Impact on local businesses
Since the popularity of online fashion brands has increased, it has affected local store sales. People prefer shopping online because it’s less stressful, cheaper, better for hygiene, and more options. Due to COVID, people are trying to avoid human contact. Many local stores have also shifted to online shopping, improving their sales and brand awareness.
The impact of COVID
The coronavirus outbreak has completely destroyed the fashion e-commerce predictions of the past few years. In March 2020, with lockdowns in place globally, 27% of US shoppers said they intended to spend “a little” or “a lot” less on luxury and fashion items than they had expected. However, a 32-34% increase in Gross Merchandise Value (GMV) was recorded by companies like Zalando during the second quarter of 2020. Shein, a fast fashion brand, saw its value doubled to 30 billion dollars, making it the biggest brand online. only clothing retailer in the world.
Athleisure is a segment of fashion retail that has flourished. The sportswear market was estimated at $155.2 billion in 2018 and is only expected to grow. Athleisure is expected to grow at a CAGR of 6.7% from 2019 to 2026 and reach $257.1 billion. Similar growth signals will be seen in the loungewear and sleepwear market, which is expected to grow by $19.5 billion between 2020 and 2024. Athletics-focused fashion companies with an online presence, such as Nike and Lululemon, have seen phenomenal development throughout the pandemic.
The start of something more
Online shopping has created a network of consumers and sellers where people all over the world can purchase products. It has become an effective means of stimulating the economy by increasing demand, expanding consumption and promoting employment.
An environmental pathway to D2C
Direct-to-consumer, or D2C, is an accelerated retail model in which brands sell goods directly to consumers through an online storefront without involving intermediaries such as wholesalers or distributors. According to recent reports, 800 D2C brands are operational in India, and the overall market size is expected to be around $44.6 billion in 2021. And this number is expected to cross the $100 billion mark by 2025. Today, the environmental cost of a brand’s production and supply chain processes are at the heart of every D2C brand’s concerns.
With consumers becoming more conscious about their consumption, direct selling brands are quickly looking to embrace green alternatives and help make the planet more livable. Brands such as aastey, No Nasties, InSom, etc., have created a more significant impact in the fashion industry by producing sustainable products. Therefore, consumers who use eco-friendly products often purchase them online due to wider choice.
The benefits of cloud shopping
The term “cloud e-commerce” refers to outsourcing to a remote network of servers hosted on the Internet to use application services and store and process data. Cloud-based e-commerce can be distinguished from software installed on a local server. Cloud shopping is not without its problems. If you are considering moving your business to the cloud, you should be aware of this. Many have reported problems with their internet banking details, problems with hackers, overpayments or default payments, etc. Hence, it limits or even scares people away from using online platforms. Solutions to these problems could be to use UPI as a payment method instead of credit or debit cards, buy only from legitimate sites, and outsmart email scammers with free coupons, freebies, or gifts. emails requiring any type of payment. Brands like InSom, aastey, Urbanic, etc. accept online payment facility as a legit website. With all these fallouts, people are still using the easiest method to make online payments as they find it more convenient and safer than handing out cash.
As the fashion industry grows in importance, online platforms will be used more and more, which will create many disadvantages or advantages in the shopping habits of consumers, even for those who do not wish abandon traditional methods. This encourages fashion companies to move online and expand their collections as this will attract consumers from all over the world. Local businesses with their outlets will also have websites, creating a fuller range of potential buyers. People have become slower since the pandemic to go around their locality in search of even their necessities. Online shopping has aggravated these habits.
In conclusion, nothing can change the constant habits of consumers so that they turn to traditional methods of purchase because the majority have adapted with happiness and satisfaction to the practice of online purchases.