LEVERAGING THE POWER OF DATA IN E-COMMERCE

Technology was already an indispensable part of retail and has become even more important in COVID times. Retailers are now compelled to not only have a sound digital presence but also to be digitally native in both their operational as well as consumer engagement models.

- Praveen Srikhande

The India Fashion Forum’s webinar, ‘Leveraging the Power of Data in E-Commerce’ explored ways of efficiently turning insights and trends in the current environment to rethink business models and make agile decisions based on advanced analytics.

Moderated by Praveen Srikhande, Chief Digital & Information Officer, Aditya Birla Fashion and Retail, the panel comprised of the following luminaries from the Fashion Retail Industry:

• Abdullah Abo Mihim, MA - Fashion Business, Istituto Marangoni, London

• Pankaj Singh, Director - National Chain Stores & E-Commerce, Levi Strauss & Co.

• Piyush Chowhan, Group CIO, Lulu Group International, UAE

• Abhishek Sudhakar, Senior Director - Men’s Apparel Sports & Footwear, Myntra

Over the world, the share of e-commerce in the retail pie has been growing by the day. While in the Western world approximately 23-25 percent of fashion retail now happens through e-commerce, China is leading the race with an estimated ~40 percent share. And the trends in this industry are rapidly changing.

Changing E-Commerce Trends

“In India till last year, the figure was around 8-10 percent of the total fashion retail business. The e-commerce business for fashion here is dominated by marketplaces, although brands have now – especially after the pandemic– started concentrating on their individual digital marketing channels. So, what according to you are the trends in the fashion e-commerce space in your respective regions?” Praveen Srikhande asked the panelists.