The ethnic wear industry in the country has evolved significantly in past decade with the advent of technology. The shift from offline to online has brought about a tremendous change amongst the industry players. Rising influence of western media and a digital peer pressure created from the social media savvy generation is influencing fashion consciousness. Indian ethnic wear industry is all set to head for a significant growth pace in the next five with the e-commerce and other social media platform influencing the consumers. Although, the country has low penetration of organised retail in the ethnic wear industry, the higher quantum of discretionary spending along with the increasing penetration of brands and store have resulted in growth of the ethnic wear industry.
Our report, “Women Ethnic Wear - The Changing Paradigm”, covers comprehensive analysis of market size of ethnic wear industry on the basis of sector, market segmentation by type and product classification. Although, the unorganised retailing continues to dominate the industry, the share of organized segment is expected to increase in the future with players expanding into Tier II and Tier III cities. Salwaar Kameez is the fastest growing sector with the CAGR of around 10% during the period 2018-2022 as per RNCOS analysis.
Our study further explores the market dynamics of the industry in terms of trends along with the regional analysis. It also includes the insight on the various marketing strategies and distribution channel opted by market players, to attract the potential costumer’s in this growing market for women’s ethnic wear.
With the influence of social media, large acceptance of digital channel and increasing fashion consciousness, the ethnic wear industry is expected to strengthen in the future. Increasing disposable income and changing consumer behavior from need-based to aspiration-based buying has increased the demand for the ethnic wear. In addition, transformative market forces are re-shaping the future of industry; and such forces can be leveraged to respond to the market opportunities in the ethnic wear industry.
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