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.
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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.
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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.
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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
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Online Fashion Retail Market in India Scope | |
Report Coverage | Details |
Base year | 2021 |
Historic period | 2017-2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 18.83% |
Market growth 2022-2026 | USD 22.97 billion |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 18.20 |
Regional analysis | India |
Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled | 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., and Walmart Inc. |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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
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