by The fashion ecommerce market in India has witnessed significant growth over the past few years. Increased internet and smartphone penetration along with rising disposable income levels of consumers have boosted online shopping, especially in fashion categories. The market offers a wide variety of apparel, footwear, accessories and other fashion products from established and emerging brands. Fashion ecommerce platforms provide enhanced shopping experience to customers through user-friendly interface, easy payment options and seamless delivery systems. The growing preference of millennials and Gen Z towards online shopping and digital modes of payments is a key driver for the industry.
India Fashion Ecommerce Market Size is estimated to be valued at US$ 14 Bn in 2024 and is expected to exhibit a CAGR of 34 % over the forecast period 2024-2031.
Key Takeaways
Key players operating in the India Fashion Ecommerce market are Myntra, Ajio, Flipkart, Amazon India, Nykaa, Meesho, Jabong, Snapdeal, Limeroad, Trendin. Myntra and Ajio have emerged as leading players catering to the fashion and lifestyle segments.
The market provides several opportunities for new brands and SMEs to expand their reach in the country. Rising investments by venture capital firms are encouraging entry of new startups. Cashback offers, festive sales and personalized recommendations are boosting customer engagement on platforms.
Globally, companies are focusing on India for growth owing to rising smartphone base and internet penetration. International players are heavily investing in logistics, technology and customer experience capabilities. Several global brands are partnering with local online retailers to supply genuine products and strengthen their presence.
Market Drivers
Rising penetration of smartphones is one of the key drivers responsible for the growth of India fashion ecommerce market. According to a report, the number of smartphone users in the country rose to about 750 million in 2022 and is expected to further increase to over 900 million by 2026. This has tremendously boosted online shopping activities across different categories including fashion.
PEST Analysis
Political: The government has been pushing towards digitization and supporting E-commerce. Recent changes in FDI policy regulations allow 100% FDI in the E-commerce sector.
Economic: The growing middle-class and young population along with increasing internet penetration and smartphone usage are driving the growth of the fashion e-commerce market. Consumers have more disposable income to spend on apparel and accessories online.
Social: Change in lifestyle, rise of social media influence, and increased brand consciousness among young Indians are fueling the demand for fashion products online. E-tailers offer a wide variety in styles, designs, and fits catering to evolving consumer preferences.
Technological: Advancements in online payment options, fast delivery services, virtual/AR trials, and live commerce are enhancing user experience. E-tailers leverage tech platforms like AI, analytics for demand forecasting, personalized recommendations, and influencer marketing.
The Indian fashion e-commerce market is concentrated majorly in Tier I and Tier II cities in terms of value. Metropolitans like Delhi, Mumbai, Bengaluru, Chennai, Kolkata, and Hyderabad account for over 60% of the total sales. However, Tier III cities and rural areas are emerging fast with increasing smartphone penetration and cheaper data plans. The western region, led by Maharashtra and Gujarat, contributes over 30% of the overall fashion e-commerce revenues owing to higher disposable income levels. The southern region is also witnessing strong growth led by expanding youth population in cities like Chennai and Bengaluru.
The north-eastern region is currently the fastest growing geographical area for India’s fashion e-commerce market. States like Assam, Tripura, Meghalaya are gaining traction due to rising internet and smartphone adoption. E-tailers are strategizing to penetrate these untapped markets through localized language interfaces, customized catalogues, affordable cash-on-delivery payment options, and convenient pickup centers/drops.
What Are The Key Data Covered In This India Fashion Ecommerce Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the India Fashion Ecommerce’s growth between 2024 and 2031.
:- Accurate calculation of the size of the India Fashion Ecommerce and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- India Fashion Ecommerce Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of India Fashion Ecommerce vendors
FAQ’s
Q.1 What are the main factors influencing the India Fashion Ecommerce?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top India Fashion Ecommerce companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the India Fashion Ecommerce’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
