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Fashion – Moving with The Times

  • Category: Life
  • Subcategory: Lifestyle
  • Topic: Fashion
  • Pages: 1
  • Words: 509
  • Published: 04 September 2018
  • Downloads: 19
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Organized retailing has undergone considerable growth in the last decade as a result of favorable demographics, growing consumer aspirations and brand consciousness. Correspondingly the fashion industry has also undergone a noteworthy transformation over the years in terms of type and positioning of brands, formats, products and emergence of new players. The depth and variety of fashion brands have taken a quantum leap in shopping malls across all the sub-categories including apparel, footwear, bags, and accessories.

Fashion – Moving with The Times… Fashion Brands are continually reinventing themselves to evolve with the increasingly competitive retail landscape. There is now an increasing insistence on productivity when it comes to the revenue generated per square foot in physical stores. Therefore, fashion brands are reviewing their store networks and undertaking conducting structured research when it comes to location, rentals and sales generation. In the last decade, there has been an abundant increase in the number of malls, but the quality retail real estate space is still quite limited. Therefore, fashion retailers are currently not only competing for consumer wallet share but also for prime real estate space due to the limited availability of quality retail real estate developments. Demand for right quality retail spaces in the right locations has increased significantly in recent times. Across the various shopping malls out in the market, there has been a rise in the number of retailers in the premium and high-end fashion segments over the last decade. However, it has become more important than ever before for retailers to understand the need for customization of product offerings and formats across different micro-markets. Fashion Retail: Key Trends The key trends that the fashion industry has undergone over the years include: · Rise in the number of brands in the premium fashion category ·

  • Emergence of fast fashion retailers as anchors in malls
  • Innovation of newer formats and adaptation to technology by fashion retailers
  • Customization of retailers’ real estate strategies for different micro markets
  • Increasing competition necessitating regular evaluation of brands’ performances
  • Regular churn in prime retail outlets to accommodate newer and high performing brands The Future: · It is expected that more fashion brands will open ‘experience stores’, and strengthen their footprints globally.

Fashion retailers are expected to innovate and come up with newer formats to sustain in the highly competitive market environment. Interactive and enhanced consumer experience will be the key for success for fashion retailers. There market is open for greater brand assortment, but requires customized approaches as each market is unique with different requirements and preferences. Going forward there will be more investments by international retailers to expand their networks to maximize profitability.

With the growing noise in the media about e-commerce and discounts, sometimes we forget that traditional shopping is still the best! Most of the shopping is till done offline in physical stores. If you are someone who believes in experiencing something before buying, you are not alone! We get you. Here are a few reasons why we think traditional shopping is still supreme:

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