As a strong demand for fashion-forward clothing is increasing, the fashion industry in India is booming at a phenomenal rate.
According to a report, “The Indian clothing market will be worth Rs 25 trillion by 2030, making it the sixth-largest market hub globally.”
Over the past year, consumer behavior has undoubtedly shifted drastically, as people sheltered from the virus in their own homes, travel was restricted and stores were closed around the world. However, the dominance of digital consumption continues and will grow in 2021. Companies must develop more engaging and enticing social experiences to encourage consumers to connect with the desired brand.
The fashion industry has catapulted into the midst of seismic shifts due to several changes in consumer spending habits, digital innovation, and rising globalization. In a world full of advancement in technology, consumers are used to getting what they want, when and where they want it, easily using various apps.
In fact, globally in the number of internet users in the past year, India saw the strongest absolute growth. Social media use is expanding at the rate of around 25 percent annually, with nearly 70 percent of users active on Instagram. Social media plays a vital role in providing a platform to introduce consumers to fashion brands that are away from the dominant informal market. Slowly the fashion industry is starting to wake up to the fact that consumer preferences have changed with time, and they want more eco-friendly products.
The fashion industry is volatile and dynamic, as the trends keep on changing and coming back, again and again, is the biggest challenge for fashion students. It is extremely important for students to stay on the top of the game because surviving in an advanced industry is not everybody’s cup of tea and so, to achieve success in the career, one must adopt all the traits needed to stand out.
Students always keep in mind to get through harsh environments of the fashion industry challenges. The students are advised as follows:
Be Technically Sound: Students need to know how to use CAD (computer-aided design) program and must be familiar with any editing graphic designing software along with knowledge of 3D software that could help them improve their designs because today’s industry demands a talent who knows to work with a 360-degree approach. Nowadays technologies are presenting opportunities for brands to conduct an authentic sustainable business, engage audiences and stay relevant.
Be Visionary: You can see the visions come directly to your imaginations when you are passionate about something. Pre-decide your long-term and short-term vision to stay clear wherever you need to go, how you want to operate, what strategy you need to accomplish your vision, and how you want to create an impact on your consumer and stand out with others.
Go Through Customer Feedbacks: To take feedback from customers when you are growing your brand and introducing a fresh collection to the world is very important. Many fashion brands conduct a survey from time to time to know about the taste of their desired consumers, to predict the rise and fall of trends. They research everything from climate to color preferences, social media trends, etc., and the collected data is considered under predictive analytics. The data-driven strategy helps the brands run more efficiently, by giving them room to innovate and balance supply and demand. Taking feedback and communicating with customers also motivate the entrepreneurs to calibrate their designs and personalize their merchandise accordingly.
Sustainability: The fashion industry is popularly known for creating trends, and now the industry is working on its most important trend sustainability. As the demand for a consumer-centric approach rises, a lot of people, globally, have become conscious of what they consume. According to research findings, 88 percent of the consumers want brands to help them be more environment-friendly because customers want to have a positive impact on the environment.
Adapt New Trends: Trend is something that flips easily because the fashion industry is extremely dynamic and it changes in the blink of an eye. Currently, fashion trends have become more simplified due to the global pandemic of COVID-19. Most fashion brands have toned down their styling even after the pandemic; clothing is likely to stay simple and comfortable. Students need to adapt to the changes and creatively make way for new trends to remain afloat where competition is cut-throat or nosebleed.