As the festive season just kicked in, the shower of offers, sales and discounts have started pouring in from every corner.
Festive season is one season, where people look forward to give a makeover to their wardrobe as well as themselves.
This is the perfect time of the year for the fashion retail market to flourish.
The Indian retail industry accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space.
India’s retail market is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015, driven by income growth, urbanisation and attitudinal shifts. While the overall retail market is expected to grow at 12 per cent per annum, modern trade would expand twice as fast at 20 per cent per annum and traditional trade at 10 per cent.
India’s Business to Business (B2B) e-commerce market is expected to reach US$ 700 billion by 2020.
Here are a few tips, how little changes can help the fashion retail brands to keep them ahead in the run:
1. Pinch of ethnicity:
No matter how modern you and your thoughts are, the festival mode always convinces you to put on the best ethnic dress and make up, to look more appealing.
It is easy to bond with the customers if the retail fashion shop is decorated with a pinch of ethnicity.
Thus the fashion retail shops can decorate the mannequins with ethnic dresses, bangles, stickers and lightings. The entire aura can be transformed to something, which reflects the traditional side, which will help in building the connection with the customers.
2. Traditional Art Jewellery:
Fashion without accessories is like bird without wings. Accessories enhance the look as well as are great assets for fashionable people.
Entrepreneurs and startup retail businesspersons look out for occasions like these, where they can showcase their talent and witness the design kicks off among the users.
Traditional jewellery or jewellery with traditional art etched on the surface witness a huge demand during the festive seasons, where all come out all decked up from head to toe.
One can play with jewellery with traditional prints, addition of beads and colorful pearls, stones to see the success shone throw the customer’s eye, from then on word of mouth spreads like fire.
3. Add-on Services to Boost Sales:
Add some free gifts, or free gift coupons for customers, who purchase certain amount, this will encourage them to reach to the certain round figure for the free gift.
This will help in keeping both customers and seller happy this festive season. Fashion is an ever changing commodity, thus there will be certain products, which will be new and solely for the festive season. Then there will be certain products from the previous season, which is why to finish the old stock, announce sale and sell them out in reduced price.
Sales are crazy and people wait for the season end sales to fill their wardrobe, which they could not buy earlier for the price but now it has become affordable.
4. Change for Good Cause:
Make an advertisement or announcement, to encourage customers, to collect their worn out clothes, or ones they want to get rid of, collect them, for recyclable usage.
This will help them as well as the brands to use and recycle the products. In return you can let them buy any two pair of fresh jeans or fresh fashion product. Bigger brands in abroad follow this and the customers also value the brand for being soft on environment and cleaning their wardrobe and then getting a gift for festivals.