E-commerce agency Flipkart is betting large to faucet the $100 billion style market within the nation with solely 6 per cent having been penetrated by the net retail gamers. Until now this market has primarily been largely offline and run by large conventional retailers having style shops throughout the nation. Nevertheless, the coronavirus pandemic has accelerated the shift amongst customers in direction of on-line procuring of style merchandise.
The Walmart-owned agency stated that Flipkart Style has democratised style for India. Now greater than 40 per cent of recent consumers on Flipkart discover the platform for the primary time by way of style.
Flipkart competes with gamers similar to Amazon, Reliance’s JioMart and Tata CLiQ, Tata Group’s e-commerce platform within the style class, for which the agency has left no stone unturned. This consists of creating inroads into tier-2+ areas for big world worldwide and nationwide manufacturers to working with regional style sellers and MSMEs (micro, small and medium enterprises) to take their merchandise to a nationwide client base.
For its greatest flagship occasion, the Massive Billion Days (TBBD) which began on Sunday, Flipkart is providing the widest array of kinds out there to consumers not solely in Metros however in tier 2 areas and past. The purpose is to play a job in equalising style traits, aspirations and bridging the hole between prospects in metros and small cities and cities.
“In preparation for the festive season, we may have the widest choice of kinds out there for customers throughout the nation,” stated Nishit Garg, vp, Flipkart Style. “We’ll proceed to bridge the hole between metros and tier 2+ areas, the place folks search the most effective of present style traits however have restricted entry from a range, vary and affordability perspective.”
For the BBD occasion, Flipkart is collaborating with India’s main style manufacturers to create an inclusive expertise for consumers by way of a big community of market sellers. For example, Flipkart has strengthened its partnership with German sports activities retailer Puma to make an reasonably priced vary of fashionable athleisure out there to each Indian throughout the nation. Designed in collaboration with cricketer Okay L Rahul, the brand new sub-brand ‘1Der by Puma’ is now out there on the platform. This launch additionally marks the 10-year partnership between Puma and Flipkart.
Previously 12 months, as prospects have continued to make money working from home and have prioritized their well being and health, ‘athleisure style’ has seen great adoption and development. This has led to the emergence and vital development of the ‘athleisure’ class. Sportswear and athleisure as subcategories have seen robust development on Flipkart, roughly 60 per cent over final 12 months.
“With athleisure changing into extra mainstream, its share of the closet as a style important has elevated tremendously,” stated Abhishek Ganguly, managing director, Puma India and Southeast Asia. “We really feel 1Der will successfully cater to the growing want for trendy and comfy clothes.”
The partnership has helped to construct a loyal buyer base for Puma. Roughly 80 per cent of Puma prospects have beforehand bought a Puma product on Flipkart.
Puma’s attire enterprise has grown exponentially within the final 2 years on Flipkart.
For the BBD, Flipkart stated lakhs of kinds can be made out there throughout hundreds of manufacturers and sellers that cater to various style wants throughout the nation. The agency stated its method to creating an inclusive expertise for style consumers goes to vary the way in which thousands and thousands of individuals store for style this festive season. This consists of the launch of 11 vernacular language interface capabilities and voice search. Immediately, over 55-60 per cent of total voice queries come from classes similar to style, magnificence, dwelling and common merchandise.
The corporate is working carefully with a rising variety of nationwide, worldwide, and regionally famend style manufacturers and sellers in numerous methods. This consists of figuring out alternatives for them to attach them with customers throughout India by way of the net market. Additionally it is serving to them leverage the ability of know-how, scale their presence and diversify current product portfolios.
For the BBD, the e-commerce agency is connecting greater than 5,000 offline branded retail shops from over 300 cities throughout the nation on its platform. This consists of small and huge format model shops providing merchandise from style, giant home equipment, mobiles and client electronics as a part of this programme. Piloted in 2020, when the pandemic impacted these shops, this programme helps offline sellers to leverage Flipkart’s experience and buyer attain to assist shops develop their enterprise by way of know-how assist.
E-retail has significantly been a boon in the course of the Coronavirus (Covid-19) pandemic after the setbacks attributable to widespread disruption (for customers and small companies) and lack of jobs. Sooner or later, the e-retail market is predicted to develop to $120–140 billion by FY26, growing at roughly 25 per cent–30 per cent each year over the following 5 years, based on the report ‘How India Outlets On-line 2021’ by Bain & Firm in affiliation with Flipkart.
Style continues to be a key gateway class for brand spanking new web shoppers and continues to guide as a primary buy (35–40 per cent new consumers purchased style of their first transaction in 2020), based on specialists.
Flipkart can also be betting large on social commerce, which is using social community communities to drive e-commerce gross sales. Social commerce is predicted to be a few $70 billion market alternative within the subsequent few years. It lately launched Shopsy, an app that permits Indians to begin their on-line companies with none funding. With the power to affect their native community and fulfill their aspirations, customers of Shopsy are in a position to share catalogues of a big selection of 15 crore merchandise provided by Flipkart sellers. These vary throughout style, magnificence, mobiles, electronics, and residential, with potential prospects through common social media and messaging apps.