The days of luxury and premium brands ruling the Indian market are fading fast. Now, it's all about affordable, trendy fashion that's capturing the hearts of millions. With budget-friendly branded apparel and footwear on the rise, major retailers are racing to expand into this booming segment, targeting smaller cities and towns where consumer dreams are skyrocketing. Get ready for a retail shakeup like never before!
India's value retail segment has witnessed unprecedented growth in recent years, driven by several key factors. Increasing disposable incomes, especially in non-metro areas, have empowered consumers to seek branded fashion at affordable prices. According to a report by Motilal Oswal Financial Services Ltd., the value apparel segment is projected to experience a compound annual growth rate (CAGR) of 6% from 2020 to 2025, with the organized sub-sector expected to achieve an even more impressive 13% CAGR. India's value-fashion market has traditionally been dominated by unorganized retailers, accounting for 57% of the total apparel market. This segment mainly caters to middle and lowerincome groups in Tier II and smaller markets. Despite the potential, only a few regional retailers have established a foothold in this budget-conscious sector, which has been difficult for larger retail players to enter.
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Denne historien er fra August-September 2024-utgaven av Retailer.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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