In the online fashion world, kidswear emerged a winner last year with over 200 per cent order volume growth, and a market share rise to 17 per cent in FY21 from 3 per cent in the previous year.
According to the "Fashion E-commerce Report" by e-commerce supply chain focused software-as-a-service (SaaS) platform Unicommerce, another interesting trend was that online fashion gained prominence in Tier-2 and Tier-3 cities. It analysed fashion trends for FY21 and FY20 with a sample size of over 70 million orders.
The online fashion industry continued to grow with order volume growing 51 per cent and gross merchant value growing 45 per cent in FY21 as compared to the previous financial year. The faster volume growth as compared to GMV led to a marginal decline of 4 per cent in the average order value, the report found.
"Fashion segment is one of the biggest contributors to the e-commerce industry of India with the highest order volume. This report deep dives into the fashion industry to analyse the trends in the online fashion space. It’s a unique report that sheds light on changing consumer buying patterns and preferences, rising adoption of D2C and omnichannel and new segments in the online fashion space,” said Kapil Makhija, CEO of Unicommerce.
The report further found as much as 118 per cent order volume growth came from Tier-2 cities, while Tier-3 and Tier-4 cities drove 192 per cent order volume growth.
Adoption of omnichannel sales across the majority of brand stores also rose due to the Coronavirus (Covid-19) pandemic. Omnichannel implies that a retailer’s customers get the same buying experience and treatment in both physical stores, online and through mobile devices.
Read More at https://www.business-standard.com/article/economy-policy/kidswear-rules-online-fashion-with-200-rise-in-order-volume-unicommerce-121061000113_1.html