The term e-commerce is not new, but the pandemic has only accelerated the mode of online shopping. E-commerce sites are trying more than ever to lure customers with discount options, personalisation and rewards, a trend here to stay.
Change is the only constant. The global pandemic has transformed the way consumers behave and made it amply clear how technology can be leveraged to garner sales even when consumers are locked in their homes.
As per Nielsen India's E-commerce Consumer Panel (E-Analytics Solution), there was a double digit increase in average spend of online shoppers for electronics and accessories (39 per cent), mobile and accessories (12 per cent), and fashion, including apparel, footwear, and accessories (10 per cent) once the pandemic set in.
Another contributing factor to the rise of e-commerce is the availability of smartphones and a huge upsurge in 4G and 5G adoption; and related infrastructure development in the country only promises to become better.. This huge spike in online shopping gives immense opportunity to small and mid-sized players to approach this ever-changing world of fashion in new ways and put their best foot forward -- a clear indicator that the paradigm shift is here to stay.
While larger fashion businesses have already joined the e-commerce bandwagon, one also sees the smaller and lesser-known sellers now entering the homes of prospective buyers via fashion apps, social media pages and garnering followers. The virtual store experience has paved the way for a gamut of online activities in the form of searching, comparing, and choosing products before a final purchase decision is made. As a result, customisation and personalisation have evolved; building one's own shopping basket, earning discounts and loyalty points on shopping sites have now become a rewarding experience.
The challenging e-commerce environment has led a lot of small businesses to experiment. Trends like partnering with established e-commerce players also gives them higher awareness, enables them to understand their customer preferences well. This also results in spending much lesser capital than a brick-and-mortar setup.
The adoption and popularity of e-commerce has only proved that being digital is the way forward. In the current scenario, the logistics and spread of e-commerce giants will be put to the test. Behavioural patterns of consumers have brought quality and credibility to the forefront. Even as niche fashion houses fight to garner more clicks, they are now mindful that consumer redressal is equally essential to tackle customer grievances. As consumers build on their preferences, fashion platforms need to up their game to personalise their offerings to the varied tastes and build predictability within their algorithms, to better purchase experiences.
The fashion e-commerce industry of today is in a dynamic and customer centric sphere. Indian establishments are trying to be on top of the curve today, creating great virtual experiences and fashion trends that are here to stay.
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