 The fashion industry goes through perpetual evolution in order to keep pace with the latest trends. Therefore, attracting customers and sustaining in the market have always remained as challenges for apparel retailers. Starting from men’s wear and women’s wear, kids wear and sportswear, in general, apparels have always kept retailers busy thinking about innovative offers, so as to pull clientele.Brand attraction
Renowned brands have always attracted consumers. Brands such as Pepe Jeans, Reebok, Nike, Gap and Adidas, among others have almost become household names. People do not hesitate to spend money for such branded clothes primarily because they know that high price tags justify quality of the products as well as create style statement. Nevertheless, despite the popularity of such companies, retailers dealing with branded apparels come up with special offers from time-to-time. Moreover, these days, it has become common for brands to rope in famous personalities and form tie-ups with them. For example, Reebok’s association with Shah Rukh Khan’s Kolkata Knight Riders (KKR) increased sale of its merchandise significantly.
While speaking to a Retailing360 correspondent, Kumar Rajagopal, chief executive officer of the Retailers’ Association of India, said, “It does not matter how big or branded you are. Every brand has to stay updated with the latest trends. They have to come up with interesting offers. Only then a certain brand can survive in the market. Goodwill alone is not enough. Fortunately, in India the retailers are making smart moves and launching right merchandise at the right time with right pricing.”
Clothes for all
While on one hand, there are retailers dealing only in branded apparels, on the other there are retailers catering to consumers from the upper middle class with their near luxury garments and semi lavish clothes. Such retailers mostly target customers who crave for stylish and fashionable clothes at a reasonable price tag. Westside and Pantaloons are such family retail shops where the average price of garments ranges from Rs 199-3,000. In order to make things lucrative, such shops have come up with the shopper’s friendly card system, using which customers can avail discounts and other promotional offers on purchase of garments.
The card system has proved to be helpful for both customers and retailers. While the former avails discounts using the cards, the latter is able to retain its clientele as the anytime discount facility is sure to bring consumers back to the store throughout the year. Therefore, the worry of losing customers has becomes less for these retailers.
Domestic market, export scenario of apparels
While apparels are doing good business in the domestic market and contributing significantly to the country’s economic growth, the export figure has somewhat dwindled during 2009-10 standing at US$9.7 billion, as compared to previous fiscal’s figure of US$10.95 billion. “While the domestic market has shown overwhelming progress over the years in terms of production, cost reduction, standardisation and quality upgradation, the export scenario is not so impressive,” said Premal Udani, chairman of the Apparel Export Promotion Council, to a Retailing360 correspondent.
However, it is expected that proper focus and appropriate incentives, successful strategies and competitive pricing will help the Indian apparel sector to match its global competitors in the days to come.
Shalmoli Kundu |
