fashion industry 2018-07-23

Ayushi Gudwani Points out Factors that Evolve Fashion Industry

The Fashion Industry Is Continuously Exposed To Several Factors That Trigger Fashion Business Models To Change

By Senior Sub-editor
Ayushi Gudwani Points out Factors that Evolve Fashion Industry

Ayushi Gudwani, CEO, Fablestreet, sheds some lights on various factors, which impact the ever-evolving fashion industry.

Ayushi Gulati, CEO, Fablestreet

Global interconnection: The penetration of international brands across all fashion verticals has transformed our outlook towards the quality of apparel that we like to invest in. Fast fashion international brands are focusing on making trends and runway fashion available to the mass audience at accessible prices. This has also made a huge impact in the Indian fashion industry since it is important to keep up with the global trends in this highly competitive market.

However, more niche brands are coming up with high-quality products keeping their price point in mind with the idea of introducing and maintaining international standard quality and styles.

Affordable Luxury, Value for Money: Fashion consumers are now no more looking for highly expensive products to stand out, they are rather a price and “re-use” conscious to ensure they get maximum bank for their buck. Most customers prefer versatile pieces which last long and can be paired in multiple ways.

Online Retail and use of Data/Analytics: Digitalization has immensely supported fashion retail channels in the past few years. Brands are enthusiastically using the platform to strategically tailor consumer experience.

They use social media platforms like Facebook and Instagram for efficiently reaching out to their precise target audience. Having a strong digital presence has become mandatory in the fashion world to get the desired traction.

The most important impact of this is real time analytics and consumer feedback. This basically means, that the brand is aware of what they are selling, their consumers preferences, sizes, etcetera. This enables them to improve their supply chain and get newer and relevant products to consumers in less than two weeks, unlike a three – four month cycle historically.

Rising Popularity of Customized Products, Mass Customization: The demand for custom made, bespoke wear products is also on the rise. Customization found its ground when the luxury market started molding things as per the customer’s needs and now it has become the trend in the fashion business. Upcoming brands have started providing their customers with the option of personalizing the products that they purchase which in-turn helps them to develop a strong connection with their TG.

Sustainable and Responsible Brands: The conversation around sustainable fashion has grown multifold in the last few years. More and more customers are inclined towards making environment friendly decisions when it comes to fashion.

As a response to the growing demand, many fashion brands are consciously making efforts to promote sustainable fashion. These practices include using environment friendly material, ethical production practices, reducing the production of waste, etcetera.

Marketing: A sound marketing strategy is now a prerequisite for a brand’s success. The process helps to add value to the brand and also creates a top of the mind recall in the minds of its target audience.

It acts as an enabler to further influence the buying decision of the customers. A successful marketing campaign ensures business growth and expansion.

Comment
image
image
mobile
address
star franchise india
Related opportunities
  • Web Based/Online Platform
    BookMyFuel is an On Demand app based doorstep Fuel Delivery..
    Locations looking for expansion Haryana
    Establishment year 2019
    Franchising Launch Date 2021
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Ice Creams & Yogurt Parlors
    Late Sr. Lal Singh founded BASANT Kulfi in 1952 with..
    Locations looking for expansion Haryana
    Establishment year 1952
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required 36
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Drinking Water Supply
    About Us: The Procter & Gamble Company (P&G) Manufactures the P&GTM..
    Locations looking for expansion Haryana
    Establishment year 2014
    Franchising Launch Date 2019
    Investment size Rs. 10000 - 50000
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Faridabad Haryana
  • Others
    Humsafar is a consumer brand of “Samridhi Highway Solutions Pvt Ltd” wh..
    Locations looking for expansion Haryana
    Establishment year 2016
    Franchising Launch Date 2020
    Investment size Rs. 30lac - 50lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads