The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.
Tantipudi Abhilash, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur.
Owing to the religious and cultural diversity across the world, a wide range of occasions are celebrated. Such celebrations typically start early in the year in January and culminate till December. On such festive occasions, consumers tend to purchase ethnic wear for both personal uses and for gifting. Ethnic wear is now founding acceptance from younger consumers esp. women. Women’s market share of Indian ethnic market is around 87%.
Within women’s ethnic wear, kurtas and salwar kameez, which represent 38% of women’s ethnic wear market, are expected to grow at robust rates in the next decade. Currently at ₹20,700 crore (USD $ 3.90 billion), the salwar kameez category is poised to witness optimistic growth at a CAGR above 10%. The ethnic wear market is expected to grow at a CAGR of 8 per cent and reach $19,600 million in 2018, according to Technopak.
According to Technopak, this segment has huge demand and can see expecting growth in future through online and offline sales in India. Other side, People who like to invest more money to purchase a desired ethnic wear for an occasion, they look for design, option and convenience. Many people won’t convince by seeing designs only.
Rahul Jashnani, managing director of Jashn (one of the online ethnic wear e-tailor) says ““We also have an online site where our products are available exclusively. As far as revenues are concerned, we are happy with both. The only challenge in the online sector is that this category is of a very touch-and-feel kind, where the consumers have to check the product before investing in them. So yes, I would say that in our sector, we gain more revenues from the brick and mortar stores rather than from online sales,”