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The 12th edition of Myntra’s flagship EORS, opened to a thumping reception from shoppers, with the fashion behemoth selling over 15 lakh products during the first 12 hours.
Consumers in tier II and III cities have exhibited positive sentiments and enthusiasm for the event. There is a 100 percent rise in orders over last year and 92 percent growth in the number of shoppers, YoY from these geographies. Top tier II cities leading on the first day of EORS were, Guwahati, Bhubaneswar and Jammu, while Imphal, Aizwal and Panchkula were leading tier III cities. Myntra registered the highest ever number of app downloads and new customer acquisitions on day one in the history of EORS.
A quick look into the products ordered on the first day of EORS reveals that the focus of a majority of shoppers has been to procure kurta, t-shirts, shorts, kidswear and work from home wear, among others. Most of the men shopped for T-shirts, while women picked kurtas in greater numbers. Beauty and Personal Care, Fashion Essentials, Kids wear, and Home décor are witnessing strong growth at about 50 percent YOY on average.
The most popular brands on day one have been HRX, H&M and Roadster among others.
The 2-day price reveal period attracted over 40 lakh visitors who wishlisted items prior to the event. More than 3 lakh customers availed early access, while the VIP slots known as Gold Slots, also witnessed over 3 lakh shoppers, placing orders for over 14 lakh items in total, before the start of the sale. Another major highlight was the ‘Shout & Earn’ that has been hugely popular and tried by 15 lakh people so far.
Speaking on the occasion, Amar Nagaram, CEO, Myntra, said, “The 12th edition of EORS has performed to our expectations so far and it is extremely encouraging to witness the numbers grow as the event progresses. This has restored our confidence in the market as the nation treads towards normalcy and we are looking forward to continuing the momentum for the remainder of the event. The collection offered by our brand partners has attracted the shoppers across the country, especially in the tier 2 and 3 markets. We have acquired a record high of 2.5 lakh new customers and traffic to our platform currently stands at 3X of normal days.”
Innovation in fashion retail, shifting buying behaviours, fast-moving fashion trends, and ever-growing global competition – these are some of the topics that will be discussed when the entire fashion fraternity, from manufacturers to retailers, meets at the 19th edition of the country’s largest fashion retail intelligence event, India Fashion Forum 2019.
During her stint overseas, this Cambridge University and London School of Economics-educated entrepreneur has held key leadership roles at Skype, Gumtree and eBay. She helped build eBay in the UK, was on the executive team of Skype where she helped design the biggest upgrade in Skype’s product history, and was also Managing Director, Gumtree to the number one horizontal classifieds business in the UK.
“Sustainability in fashion is a relatively newer concept. We are experimenting with different kind of sustainable fabrics. We expect revenue from products made from sustainable fabrics to double in the 18-24 months to 10-20 percent from about 5-10 percent at present,” Anant Daga, Co-Managing Director, TCNS Clothing told PTI.
Impact of digital age – Though, Internet has penetrated to 400 million users today, but they are different in usage behaviour and needs. 60 percent of rural Internet users go online using Internet enabled phones and not smartphones. The major use of Internet in rural consumers is limited to entertainment, education and social networking. The online purchase behaviour is best predicted by the ‘digital age’ (years spent online), and not by demographics. With an increase in digital age, the internet users even from rural areas are expected to use e-retail for making their purchase decisions.
“Consumers quickly gain an impression of a brand’s DNA when experiencing the retail store environment around them. That experience ultimately becomes a memory, and if the memory is pleasing, the effort needed to activate a shopper and develop brand loyalty becomes a lot easier. An effective store design creates a strong brand identity and can positively influence shopper behaviour.
At the age of 14, Nathasha AR Kumar knew more about fabrics & textiles than any other kid her age. Observing her parent’s small textile business in China, she developed a burning desire to paint a bigger, brighter picture of her own in the field. That picture today is known as Vajor, a private label dealing in fashion and lifestyle products of unmatched aesthetics, quality and price points.
Her unique approach in running this company with her team has led to the creation of a fashion brand that is technically sound. Vajor has been developed as an efficient ecosystem wherein, each and every department efficiently performs to lead to a highly productive day every day.
Digital transformation has given marketers two invaluable new tools: multi-stage interactivity and analytics. Social media marketing has become such an integral part of the marketer’s toolkit over the past decade that the daily interactions the brands has with this platform helps brands to stay in conversation with the target audience and thereby build an emotional connect. Half the battle is won if the brand strikes a right chord with the target audience!
Located at Ambience Mall, the store brings the passion for sports, design and innovation to a brand new level by creating a unique and interactive experience for the consumers. Rishabh Pant along with Manish Sapra, Senior DTC Director, Global Sales Retail, adidas India were present to mark the opening of the store.
Sub-optimal logistics and infrastructural bottlenecks – Most of the logistics companies do not have pan-India reach. As some regions are not easily accessible, retailers have to cancel such orders due to inability of logistics partners to provide service in those areas. Inadequate infrastructure such as poor conditions of roads, highway, etc., is one of the main challenges faced by the e-retailers resulting in a major roadblock in their growth story.
Initially, although most brands and licensees simply imprinted the character on apparels to reproduce in multiplicity, brands are now taking a step ahead and have evolved the concept by introducing apparels inspired with the look and feel of popular characters. In its entirety, the trick in licensing is not to just take a character and put it on the apparel. It is to combine and translate the character’s DNA with the latest trend in fashion and gain the mass appeal.
The changing consumer profile is also impacting the buying trends with increased volume buying for value garments than for premium garments. The shift is also leading to huge wastage of unused garments, said Devangshu Dutta, Founder, Third Eyesight, at the inaugural session of the forum today.
The past few years have seen the emergence of national-level women ethnic and fusion wear brands that are aggressively expanding across the country. Western wear brands, including fast fashion and casual wear, are also expanding rapidly due to increasing demand by consumers.