"How do you call a customer; who talk themselves, irrepressible, spend their mind, does not bother about the price tag, & who is hardly two feet tall?" "A Kid!" Indian kids wear market is on the growth trajectory, motivating global brands to make a beeline.
Kidswear is a miniature version of adults wear. Spaghetti tops, Crystal studded denims,Italian cuts, Capris, and exclusive party wears Kids today have all clothing options like that of adults, and even much more. Children of today are much more intelligent than the previous generations, and like to take their own shopping decisions by themselves. Kids are becoming more fashion savvy; ready to experiment with new styles. Children; becoming independent buyers is now boosting the growth of kidswear market. Double income, increase in the amount of disposable income, and one or two kids are the supporting factors to the growth of kidswear market.
Growth of Indian Kidswear Market:
In today's nuclear family, children have become an important entity. Parents are more concerned in the way their kids dress. Children are also becoming increasingly aware of fashion trends, and styles. They prefer to make their buying decisions themselves. All these factors have fueled the growth of the Indian kidswear market. Estimates state that the sale of kidswear have increased by 15-20% during the past one year.
Market for kidswear is currently estimated to be approximately
Market Demography:
Kid's fashion retail is well established in I tier cities and is now emerging into the II tier and III tier cities as well. In I tier cities, boutiques are emerging to be a popular trend. Consumers prefer their kids being dressed up fashionably, and expect retailers to have a cutting-edge of garments, and exclusive collection of clothes. Stores offering multiple brands under one roof, attractive discounts and low prices attract more traffic. As kids grow quickly, and are less attentive in keeping their clothes safe, parents expect kid's apparel as functional and disposable as well.
In case of infant, and toddler wear, general merchandise, and supermarkets dominate the sales. Specialty stores are successful in this segment as they are focused on a particular section in the apparel segment. Few retailers dominate the kid's apparel market in any one particular area.
Brand Wars:
Market potential for kidswear has attracted many global brands into India. Renowned international brands like Mothercare, Mona Lisa, Benetton, Espirit, Bossini, and Kans have already established their market. Domestic players such as; Lilliput, Li 'l Tomatoes, and Catmoss are also getting geared up both at the domestic and global forefront. Representing Indian brands abroad, higher profit margins, and succulent opportunities are assumed to be the reasons behind their foreign march.
Retailers focus on Child Psychology:
Kids are adult consumers of the future. They influence the buying decisions of their parents, and exert significant buying power. Business centric retailers focus on this concept, and spend for advertising targeting children. This trend has exploded drastically during the past decade.
Factors
influencing the purchase decisions of children:
- Friends
- Television
- Their favorite characters in movies
- Attitude &
- Parents
Magazines such as Sports Illustrated, People etc; have launched kid, and teen editions boasting ads for children. Most of the kids prefer wearing western clothes.
Character inspired merchandising is emerging as one of the hottest market trends, especially in the kidswear market. Apparel makers use famous cartoon characters in apparels that to charm the kids. Mickey mouse, Ben10, and Hannah Montana, Powerpuff girls, Donald Duck, Tom & Jerry, Rockey & Bull winkle, Spiderman, Scooby Doo, and Bugs Bunny are some of the famous characters used in kidswear.
With kidswear being considered as a part of the lifestyle segment and a strong emphasis is being placed on brands, this segment proves to be a potential business. Retailers having realized that selling to 'small customers' is not an easy task have come up with alluring promotional activities to popularize their apparels.
References:
1) Retailing360.com
2) Apparel Views, October 2011
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