With a presence in over 34 cities, with over 200 points of sales, Ethnicity is a homegrown fashion brand. In an exclusive conversation Ameet Panchal, CEO, Ethnicity talks about the post covid strategy of the company.
How do you see the exit of Chinese fashion players like Romwe, Shein amongst others. Do you think it is an opportunity for Indian companies to fill the gap of affordable online shopping platform?
We are an Indian wear business and Ethnicity has always positioned itself in a manner where we provide the customers with just the right benefits, with a carefully designed Price-Value matrix catering to customers across all segments.
Coronavirus has weakened consumer sentiments; therefore, there is a surge in value shopping. What kind of shopping trends you have observed since unlock1.0? When do you see premium shopping touching back to pre COVID level?
Covid-19 has created a considerable shift in customer purchasing sensibilities, bringing more mindfulness to the way people shop. The pandemic has been a debilitating Health and Wealth scare for everyone worldwide and that has reshaped the way people perceive value and affordability.
Customers always makes purchase based on the perceived value of a product basis of their perception of great quality at great price. Shopping will be dependent on the customer’s socio-economic status and buying capacity, and to predict the premium behaviour at this stage is too early, as there are newer findings still being revealed.
We will continue to study the changing patterns this crisis has brought upon us, and making additions and eliminations, depending on how the customer shopping behaviour is ultimately defined in the post-Covid times.
Which were your uptick categories just after lockdown gets over? What were your strategies to stay relevant in the new normalcy?
Good product with good value has always been our highest priority. Our uptick categories will be daily wear created with a specific emphasis on work-from-home clothing that allows you to juggle between work and household activities, all encapsulated in classic clothing apt for work while having the comfort of your jammies.We are creating masks and snoods as well as scarves and stoles, sincethese fashion accessories also double as safety accessories and are essentials in the current atmosphere. Comfort is an important criterion for purchase and people want to be comfortable when they work from home.
The new normalcy has led to us improving our digital footprint with newer innovations each day as the internet continues to reduce the distance between a Brand and Consumers. Earlier our stores were the source at which customers were introduced to the Ethnicity experience, but there was still a large population of people that had very limited access to our products. With the ramping up of our E-commerce website, we are bridging that gap by being available nationwide to a wider and diverse audience, which also helps us gain in-depth insight to regional fashion at a local level.
Today online retail has become very vast and we are seeing the emergence of concepts like live retail, community commerce, social commerce, live streams amongst others. Being an online player yourself, how are you looking to expand the reach of the brand to cater even wider audience.
As digital is the new ‘normal’ we are speeding up the development of our digital assets and aligning our E-commerce business by focusing on strengthening our online presence and creating a robust Omnichannel E-commerce website. The newest collections will be made available online simultaneously as they are released in our brick-and-mortar stores and will be marketed to a wide audience with the use of newer innovative online tools.
This will allow us to cater to our Offline and Online patrons equally and bring the best Indian wear fashion to them in a timely manner. Ethnicity is currently available to purchase via www.ethnicity.in and our Facebook shops while also being available on leading e-commerce websites like Ajio, Myntra, Tatacliq, Flipkart and Amazon.