Reports indicate that the number of internet users in India is expected to reach 627 million by the end of 2019. The growth has been on an upward trajectory, if you take into consideration the fact that as at 2017 July, there were 450 million users or 40% of the population. The upward trend is attributable to the penetration of internet in rural areas.
The retail market accounts for over 10% of the country’s GDP and employs 8% of the population. In monetary terms, in 2017 it brought in approximately Rs 46,15,000 crore (US $710 billion) and by 2027, financial experts estimate that the sector will bring in Rs 1,08,58,000 crore (US $1,672 billion).
The e-commerce platform has generated a lot of interest. The industry has approximately 147.8 million users. Experts project that by 2020, there will be 210.46 million users shopping online. The growth of the platform is due to an increase in the number of online users and the influence of millennials. Up to 28% of millennials will buy due to social media recommendation.
Food and groceries dominate the retail market at 67%, apparel and accessories 8%, jewelry and watches 8%, and others. Interestingly, the e-commerce market has electronics leading at 49%, and apparel/lifestyle at 25%. The apparel sector includes footwear, bags, belts, wallets, watches, jewelry, etc. There seems to be slow uptake in the fashion sector because customers still want to see, touch, and feel what they are buying. Sellers, therefore, have to come up with innovative ways to reach customers. It is therefore not uncommon to see promotional activities like discounts and offers as a way of getting customers to buy.
However, we can expect the fashion e-commerce sector to continue on an upward growth trajectory. Clients have increasing fashion demands due to more disposable income, growing aspirations, and an increase in media exposure. The industry is embracing technological advancements and is applying innovation to personalize the experience for shoppers.
With e-commerce brands like Stylecaret, Myntra, Koovs, Limeroad, among others, the sector can look forward to great growth opportunities. We will look at some of the top fashion e-commerce brands in India.
- Category – Shoes, Clothing, Jewellery and Accessories for Women & Men
The company started operations in 2010, and has its headquarters in Gurgaon, with an office in London. The site caters to those looking for Indian or international brands. The designers of the clothes are in London, and you can always look forward to fresh stock and great discounts.
- Category – Women, Men, Kids Fashion & Lifestyle
Myntra started operating in 2007 as a shopping website. It then moved to selling mobile brands but before long ventured back into fashion. The company has its headquarters in Bengaluru, Karnataka, India.
If you are looking for luxury, celebrity, and international brands, then Myntra is the perfect place for you. The company has a partnership with the actress Deepika Padukone for the All About You brand. Other brands include Forever 21, Tommy Hilfiger, L’Oréal Paris, FabAlley, French Connection by, Adidas, Puma, Reebok, Burberry, Calvin Klein, United Colors of Benetton, and Bobbi Brown among others. Even though it stocks high-end names, the prices are budget friendly.
- Category – Vegetable store, food shopping online and groceries online
BigBasket started operations in 2011 with its headquarters in Bengaluru and is present in at least 30 towns and cities. It holds the distinction of being India’s biggest online grocer. Innovative Retail Concepts Private Limited runs BigBasket and has more than 6 million subscribers.
- Category – apparels, accessories, home décor items
Limeroad initially catered exclusively to women, but now stocks men’s items as well. The company has zero inventories but showcases over 750 brands. You can get unstitched, semi-stitched and completely stitched clothes. Limeroad hopes to use a social approach to conquer the Indian fashion market.
- Category – women’s products only; Bras, Panties, Nightwear, Swimwear, Sportswear, Lingerie
The company started operating in 2013 to enable women to shop for underwear freely. Women can choose products as per their skin tone, body type, budget, and style preference. Voonik prides itself on being at the forefront of innovation by exploring areas no one has thought about before.
The company launched a mobile app before setting up an online store. In 2016, it was number 2 in most downloaded fashion apps.
- Category – Men and women’s apparel
Abof is a relatively new entrant but is already making strides in the e-commerce fashion platform. Those who follow celebrity trends will love this platform. You can also get branded and ethnic stuff.
- Category – Clothing, Footwear, Fashion Tech & Accessories for Men, Women & Kids
Ajio was founded in 2016 and has its headquarters in Bangalore, Karnataka, India. It stocks popular, ethnic brands and tech gadgets.
Category – Clothing and apparel for men, women, and kids
Jabong stocks different brands and celebrity inspired style. The company started operations in 2011, and you will find almost everything to do with fashion and accessories, including watches, backpacks, and beauty products, among others.
- Category – Sunglasses, Eyeglasses and Contact Lenses for men & women
Lenskart was the first online store dealing in eyewear in India. You can get prescription and stylish fashion eyewear from big brands from the comfort of your house. The company offers a 48-hour delivery guarantee and a return policy of 365 days.
- Category – clothes, accessories and home decor items
The founders of TheLabelLife are Bipasha Basu, Malaika Arora, and Sussanne Khan. The site is for top brands features classy, elegant brands. It has a slightly higher price point and will mainly cater to those who have no issue spending good money on fashion items. The company has physical stores in Mumbai, New Delhi and Project Eves across India.