Why is the Clothing Industry a Trend in India?
What you wear, is what you represent to your personality. In India, people have their own set of traditional wear besides the western clothing style. Fashion trends are commonly changing with the season and people’s wearing choices. So starting a clothing business can be daunting and the profit margins depend upon the market research that you do and the trends of the clothing market. Two of the most important consumer-facing sectors are textiles and apparel. It is approximately the size of India’s economy and has a global value of up to $2.5 trillion. The Indian textile and garment business has risen substantially over the last two decades, with a market value of US$ 67 billion today. Because of its low labor costs, cotton-based raw materials, and easy access to US and European markets, India has positioned itself as a manufacturing destination. Several major apparel industry trends are mentioned in these, and here are the Clothing Franchise in India trends, despite mixed market estimates.
Clothing Franchise Business Trends in India,
Several organizations are working to enhance their business methods and offer things created from more environmentally friendly materials, according to Textile Intelligence. For example, Adidas recycles beach plastic and inserts it into its shoes and clothing. Chanel invested in the company Evolved by Nature in order to reduce its environmental impact by substituting more environmentally friendly materials for synthetic ones.
Buying used or renting rather than buying new has been a popular strategy for people to keep products out of landfills while still being able to purchase more high-end luxury multi-brand apparel chains. As a result, the rental and resale businesses are expanding at a rapid pace. In addition to concerns about climate change and the health of the earth, consumers are becoming more aware of exploitative industrial working conditions and are demanding livable wages and safe working conditions. Traditional women’s clothing remains the go-to option, accounting for over 70% of all women’s apparel sales in 2017. Traditional apparel is predicted to account for 65 percent of the market by 2023, despite increased demand for Western-style attire. Because of demographic trends, increased urban consumer buying power, and infrastructure improvements in those places, the majority of activity will most certainly be centered in big metropolitan centers.
Augmented Reality Makes Shopping More Convenient,
Prior to the pandemic, digitalization was already a hot topic in the garment business, but as a result of the pandemic’s impact, the emergence of digital channels is projected to become a permanent shift in the future. Retailers are leveraging technology to improve the in-store experience with digital marketing displays and improved checkout, while Indian players are innovating to create excitement around traditional storefronts. Franchise clothing stores and rising fashion companies will need to expand their online presence and employ big data and analytics to give more personalized solutions and acquire a greater market share as the market advances. Companies are adapting to a more digital world in a variety of ways, including the growing usage of live streaming and video chat for customer service.
How is India’s clothing industry changing as a result of the work-from-home culture?
Key categories lacking a thorough season orientation, such as athleisure and professional comfort wear, are projected to ascend to the top as a result of shifting consumer behavior. Women’s athleisure, which was already accelerating, is set to speed even faster as consumers spend more time at home with minimal work and social engagements. The athleisure movement, on the other hand, has been around for quite some time. Due to the growing popularity of wellness, the yoga-inspired apparel business has a lengthy shelf life, and the trend has already “defied gravity” for years. According to Technavio, between 2021 and 2025, the global athleisure industry will rise by $153.02 billion, indicating a compound yearly growth rate of more than 7%. Furthermore, the range and styles of professional workwear may suffer as a result of the move toward everyday comfort apparel. Naturally, there would be an increase in demand for stylish masks and comfortable house wear.
The Clothing Industry’s Future
India’s garment business will be valued at $59.3 billion in 2022, according to McKinsey’s FashionScope statistics, placing sixth in the world after the United Kingdom ($65 billion) and Germany ($63.1 billion). Between now and 2025, the targeted population’s aggregate income (individuals earning more than $9,500 per year) is predicted to treble. Given these conditions, it’s no surprise that over 300 international fashion labels want to open stores in India over the next two years. The industry supply-side is also solid, with exports of textiles and garments set to accelerate. Many companies want to take advantage of India’s tremendous expansion. One of three courses will most likely be taken by the great majority of people. Participants can start by using existing e-commerce platforms. This is perfect for players that have limited brand knowledge and little resources to invest; it also provides a wonderful way to assess demand and customer preferences. Second, a franchise model allows brands with limited local experience who wish to join the market rapidly to create brick-and-mortar retail outlets. Finally, players with substantial local knowledge and capital can open completely self-contained sites. In a nutshell, the Indian market holds a great deal of promise
These are the reasons the clothing industry will take over the future market very competitively and if you are willing to invest in the textile market this time is the best for you to grow in the business.
Also, you can have famous clothing brand franchises because it will make it easy for you to get into the industry. Now the choice is yours.
My name Is Dhinal Baxi and I am from Ahmedabad, Gujarat, India. I am a founder of franchise Insider. As a founder, we have served hundreds of clients. My experience from the financial sector has helped them to achieve great success in the franchise world. Franchise Insider is one of the leading franchise advisory and consulting company.