In the past few years we have witnessed a tremendous growth in the online fashion industry. Numerous new sites have boomed in while the earlier ones have reached the top overlapping the competitors. New emergence of these fashion stores resulted in many small and big ventures innovating new ideas to stay ahead of all. The USP all these online stores follows are the discounts and offers they give to their customers.
Be it the top online store Jabong, Myntra, StalkBuyLove or the new emergence Ajio or Abof customers are always attracted by the deep discounts, offers given by them. Coupon and cashback websites are playing conclusive role in making users more aware about various coupons and offers present at these online stores.User get discount codes like Myntra coupons and Ajio coupons from these coupons sites, in return increasing the customers base of these fashion sites.
Not only the competition for survival, these ventures are also attracting huge amount of capital from investors. According to a report published by technopak, the apparel e-tailing in India has attracted investments worth $70 million which is 40% of the total funding Indian online retailers has got in the past 2 years.
The success of online fashion industry is no doubt at its peak. So, if you are an entrepreneur interested in online fashion retailing, then the scope of starting a venture selling fashion and apparels brands is very high.
One major point to be noticed here is the services as selling is all about the services that the stores are offering. The Indian consumers in an average who shops online does so because of “the time factor, changes in lifestyle, convenience of shopping from home, flexibility in shopping and last but not the least the Cash on delivery and free home delivery services.
If any stores focuses on these services then the business will definitely gain that edge it wanted. Service of free and fastest delivery all depends on the logistics the enterprise is using. So it will be best to invest in logistics in a smaller fraction at first and then expanding it later.
It’s also not that the startups and new ones are coming with new and innovative ideas. A popular fashion website Myntra.com recently adopted the technology of virtual fitting room. Through this technology a virtual mannequin is generated based on the body type of users through which they can check the fitting and sizes. Another fashion store BIBA, which is purely dedicated to women’s ethnic needs also provides its customer the facility of virtual trial room.
Another aspect which resulted in the success of these online fashion outlets is the service of free and fast delivery of products. The fashion store, FashionAndYou started its store with an extraordinary guarantee of service and that was on-time delivery of products and even delivery of merchandise within 24 hours upon a service charge. Other than Fashionandyou there are many online stores be it fashion or any other category offers the service of 24 hour delivery system.
Another factor that drives success to these stories are the discounting factors. Since Indian eCommerce is all about discounted pricing, customers hunts for sites where they get the best fashionable products at the cheapest price. Online fashion stores are giving a lot of discounts on branded as well as non-branded products. The main attraction of the fashionistas is the discounts given on products of national and international brands. Many famous fashion house are also collaborating with online stores to sell their products to the common folk at generally discounted price.
Connection with social media platforms such as facebook, twitter, linkedin, pinterest, google+ acts as one of the success factors of these stores. Site like Limeroad and Ajio draws a good amount of traffic from its social page like facebook, and this is the site which has made online shopping a “social experience”. As social commerce has a fundamental role, Limeroad has enabled a new feature for its users where the customers can see recommendations from other customers through scrapbook, a virtual space to experiment with the products on sale.
There is another store which I think should be mentioned here is TheClothingRental. One of its kind, this store offers huge variety of fashionable merchandise both for men and women in ethnic and traditional range. The collection of this store is generally acquired from famous fashion houses of India and across the borders. What’s unique about this store is that you don’t have to spend huge bucks for getting that gorgeous gown you saw wearing an actress in an event, because this store rent apparels. Yes, you heard it right, you can rent your favorite cloth from this store according to the event you are going to attend. So, you don’t have to rush to stores whenever you are going out for party or any ceremony and without spending huge amount you can look stylish as well. Sites like TheClothingRental is taking the online fashion to a different height and in its own way contributing the online fashion success as they keep people updated on few fashion trends from across the globe.