Report suggests Indian online fashion industry grew 51 per cent in FY21

Setting new benchmarks in the ecommerce industry amid the pandemic the online Fashion industry in India continued to demonstrate overall 51 per cent growth in FY21 and 66 per cent growth on various brand websites a new report showed on ThursdayTier 3 cities and beyond reported the highest order volume growth of 192 per cent while kids wear has been the biggest gainer with over 200 per cent order volume growth online according to the Fashion ecommerce Report by Unicommerce an ecommerce focused supplychain SaaS technology platformThe rising adoption of D2C directtoconsumer among fashion brands has helped them build a strong connect with the consumer leading to higher growthFashion segment is one of the biggest contributors to the ecommerce industry of India with the highest order volume We are confident that this report will help fashion etailers in understanding the changing dynamics of the fashion ecommerce industry said Kapil Makhija CEO of UnicommerceThe brand websites have reported 66 per cent order volume growth and 77 per cent GMV growth in FY2021 as compared to the previous financial year the report saidThe strong order volume growth supported with higher GMV growth has led to a 6 per cent increase in average order valueAs compared to websites marketplaces have reported 45 per cent order volume growth and 33 per cent GMV growth with an 8 per cent decline in the average order value for FY2021This strongly reinforces that the fashion brands are investing aggressively to build a stronger D2C presence the findings showedThe trend of shopping fashion online is getting prominent in Tier 2 and 3 cities and beyondCompanies are now fulfilling 2025 per cent of their omnichannel orders from the store indicating increased adoption of omnichannel across the majority of brand storesWomen wear holds the majority share of the ecommerce fashion market with a 50 per cent market share in FY21 and reported 30 per cent order volume growth as compared to the previous financial yearOn the other hand the kids wear segment took the industry by surprise with over 200 per cent order volume growth and the market share significantly increased from 3 per cent in FY2020 to 17 per cent in FY2021The menswear segment maintained consistent growth with 37 per cent order volume growth and 33 per cent market share in FY21Western wear segment is growing rapidly 57 per cent order volume growth in FY21 compared to the previous financial year and it accounted for 65 per cent market share the report saidThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoeverAlso Read Pride Month Follow these Instagram accounts to learn about Indiarsquos LGBTQIA community