Fashion brands are experiencing a dip in online sales owing to the onset of the novel coronavirus (COVID-19) era. E-commerce sales of essential goods such as food and personal care products are gauging an uptick as consumers fear the exposure to the novel virus, while the online apparel market bleeds due to dropping online sales.
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Online Apparel Market: Dynamics
Retail therapy seems to have taken a backseat due to the tough times ahead of the Coronavirus outbreak. Companies in the online apparel market are suffering heavy losses due to poor consumer sentiment. Right from fashion brands dealing in jeans to shoe companies, it has been found that online apparel sales are taking a beating due to the COVID-19 pandemic.
This is because the world economy is experiencing a recession period due to lack of free revenue flow. Poor consumer sentiment against online apparels stems with the need to buy only immediate and important items amidst the lockdown period.
Online Apparel Market: Segmentation
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Online Apparel Market: Regional Outlook
International fashion brands such as Benetton, who are heavily dependent on online apparel sales are predicting that market situations could plummet if the Coronavirus outbreak fails to subside.
Governments in India are relaxing COVID-19 regulations in non-hotspot zones – an opportunity that companies in the online apparel market can capitalize on. However, restrictions in transport services are likely to delay deliveries for customers.
Moreover, prime cities such as Mumbai, Delhi, Chennai and Hyderabad amongst others, who contribute a large share in online apparel sales in India, fall under the virus hotspot zones.
Manpower is another major concern that has slowed down growth of the online apparel market in India. Self-isolation and social distancing norms have become far stricter as the number of COVID-19 patients surge in India. Most delivery personnel are practicing self-isolation and social distancing, thus resulting in inadequacy of workers to manage warehouses.
This is evident since more than 50% of the manpower in China took over a month to come back to work.
Online Apparel Market: Key players
Unique challenges such as huge wage inflation demands for meeting health and safety protocols are becoming troublesome for companies in the online apparel market. However, fashion brand stakeholders such as Siddharth Bindra, MD of BIBA India, are leveraging the opportunity through online apparel sales, as the brand’s brick-and-mortar stores are not generating any revenue due to the nationwide lockdown period.
Positive indications from the manpower domain are reassuring certain level of revenue flow as most delivery personnel are sole earners in middle class and below middle class families in India.
Companies in the India online apparel market are breathing the air of new hope as many individuals place orders for non-essential items post Lockdown 3.0. However, inadequacy of manpower poses as a hurdle for brands in the online apparel market. Online apparel companies are now being permitted to circulate deliveries in orange and green zones of the country.
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