Kids’ clothing dominates online fashion with 200% increase in order volume: Unicommerce
In the online fashion world, children’s clothing emerged victorious last year with order volume growth of over 200% and market share increasing to 17% in FY21, compared to 3% the previous year.
According to the Fashion E-commerce Report of the Unicommerce e-commerce supply chain-focused Software as a Service (SaaS) platform, another interesting trend was that online fashion has picked up. importance in Tier 2 and Tier 3 cities. He analyzed the fashion trends for FY21 and FY20 with a sample of over 70 million orders.
The online fashion industry continued to grow, with order volume increasing by 51% and gross market value by 45% in fiscal year 21 compared to the prior year. The faster volume growth compared to GMV resulted in a marginal 4% drop in average order value, according to the report.
“The fashion segment is one of the biggest contributors to India’s e-commerce industry with the highest order volume. This report delves deep into the fashion industry to analyze trends in the online fashion space. It is a unique report that highlights the changing purchasing habits and preferences of consumers, the growing adoption of D2C and omnichannel and new segments in the online fashion space. ‘online fashion space,’ said Kapil Makhija, CEO of Unicommerce.
The report further found that up to 118 percent growth in order volume came from Tier 2 cities, while Tier 3 and Tier 4 cities generated 192 percent growth in order volume.
The adoption of omnichannel sales in the majority of the brand’s stores has also increased due to the coronavirus (Covid-19) pandemic. Omnichannel means that a retailer’s customers get the same shopping experience and treatment in both physical stores, online and through mobile devices.
While a majority of omnichannel orders (55-60%) are still generated from branded websites, marketplaces have dramatically increased their ubiquity over the past 15 to 18 months, from a negligible contributor l last year to 40 to 45% of global omnichannel orders.
Companies now fulfill 20-25% of their omnichannel orders from the brand’s store, indicating increased adoption of omnichannel sales in the majority of these stores.
Women’s clothing continued to hold the majority share of the online fashion market with a 50% market share in FY21 and saw a 30% growth in order volume during the year. year 21 compared to the previous year.
Western apparel order volume grew 57 percent in FY21 compared to a year ago and accounted for 65 percent of the market share in FY21.
“It is interesting to note that the men’s clothing segment is the biggest contributor to the Western clothing segment as a whole and it accounted for 55% of the overall Western clothing market share in FY 21 and recorded a 40% growth in order volume. volume growth of over 300% and its market share increased from 3% in FY20 to 28% in FY21, “the report says.[ercentanditsmarketshareincreasedfrom3percentinFY-20to28percentinFY21″thereportfound[ercentanditsmarketshareincreasedfrom3percentinFY-20to28percentinFY21″thereportfound
On the other hand, the ethnic clothing segment recorded an order volume growth of 41% in FY21, mainly led by the women’s clothing segment and constitutes a 95% market share of the All ethnic clothing in fiscal year 21. It recorded a 43 percent growth in order volume.
Casual wear continued to be the preferred choice for consumers, but formal wear also gained momentum with order volume growth more than double.