Online fashion industry witnessed an order volume growth of 51 per cent and gross service provider worth (GMV) improve of 45 per cent in FY21 as in comparison with the earlier monetary yr, a report by Unicommerce stated on Thursday.
The sooner volume growth as in comparison with GMV has led to a marginal decline of 4 per cent in the typical order worth, the report titled ‘Fashion E-commerce Report’ stated.
Unicommerce, e-commerce targeted SaaS (software program as a service) platform, analysed fashion traits for the interval of FY2021 and FY2020 with a pattern dimension of over 70 million orders.
“Fashion labels have been at the forefront of re-inventing, re-strategising, and re-aligning themselves to rapidly evolving business environments and changing consumer needs. The industry has also observed multiple retail brands establishing their niche in the e-commerce industry,” it stated.
The rising adoption of D2C (direct to client) amongst fashion manufacturers has helped them construct a powerful join with the buyer, resulting in larger growth.
The model web sites have reported 66 per cent order volume growth and 77 per cent GMV growth in FY2021 as in comparison with the earlier monetary yr, the report stated.
The robust order volume growth supported with larger GMV growth has led to a 6 per cent improve in common order worth, it added.
As in comparison with model web sites, marketplaces have reported 45 per cent order volume growth and 33 per cent GMV growth, with an 8 per cent decline in the typical order worth for FY2021 – which strongly reinforces that the fashion manufacturers are investing aggressively to construct a stronger D2C presence.
Notably, the development of buying fashion on-line is getting outstanding in tier-II and III cities, with 118 per cent order volume growth coming from these places driving 192 per cent order volume growth.
Womenswear held the bulk share of the e-commerce fashion market with a 50 per cent share and reported 30 per cent order volume growth in FY2021 as in comparison with the earlier monetary yr.
On the opposite hand, the youngsters put on phase registered over 200 per cent order volume growth and the market share considerably elevated from 3 per cent in FY2020 to 17 per cent in FY-2021.
The menswear phase maintained constant growth with 37 per cent order volume growth and 33 per cent market share in FY2021, the report stated.
Casual accounted for 84 per cent market share in FY21 and 49 per cent y-o-y order volume growth in FY2021. Formal put on class noticed over 100 per cent order volume growth.
“Fashion segment is one of the biggest contributors to the e-commerce industry of India with the highest order volume. This report deep dives into the fashion industry to analyse the trends in the online fashion space… this report will help fashion e-tailers in understanding the changing dynamics of the fashion e-commerce industry,” Unicommerce CEO Kapil Makhija stated.
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