fashion
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espite a slowdown and a dip in overall consumption across sectors, festive season this year did not pass by with its share of sparkle and shine. While the auto sector was forced to shed lakhs of jobs and became a major drag on the Indian economy in just a few months and a credit scarcity and less money in circulation forced less spending during Diwali, etailers made a whooping $3 billion (over Rs 21,000 crore) in just the first six days of festive sales this year. Based on this number, the year-on-year growth for etailers, led by Flipkart and Amazon, was 30 per cent, reveals a study by consulting firm RedSeer. Another study by Capillary Technologies showed physical stores were the preferred shopping channels for consumers during the festive season
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Trends that shaped the global fashion industry in 2019
appliances. Both companies are neck and neck in the metros, with Amazon leading by a percentage point. Amazon fared better on account of availability of product selection, convenience and Festive sales this year was not as bad as expected as initial sale figures reveal retailers affordability while Flipkart’s managed to woo consumers despite a dip in overall consumption across India. While big surge in sales could be credited to affordability retailers fared better, both online and offline sales were positive this festive season. constructs and engagement Amazon fared higher on via video and Hindi language with physical outlets net promoter score (NPS) content. registering a 7 per cent which measures the loyalty increase in footfalls over last of customers to a company. Physical stores saw higher year same period. The study However, the gross footfalls and its findings are a result sales, or gross merchandise of the data collected during A majority of large retailers value (GMV) of these said festive sales over the Diwali 2019, compared to marketplaces dropped month helped improve the Diwali 2018, from 62,000 by 14 per cent. They had overall mood, albeit an consumers across stores in hoped to record $5 billion evident shade of gloominess India. in sales collectively during across some segments. The Online marketplaces the festival period. Over same, however, cannot be register strong sales 88 per cent of Amazon’s said for small retailers who E-commerce industry new customers were continued their poor run. grew 76 per cent and the located in small towns. A real winners were online Meanwhile, the Capillary marketplaces like Flipkart and payment options. The Amazon. The Walmart- majority of them opted for Technologies study and Amazon who lured average order value for owned marketplace led with fashion category followed highlighted shoppers at top customers with discounted Flipkart stood at Rs 1,976 a 64 per cent share of the by smartphone and large metros preferred to invest products, lucrative EMIs as against Rs 1,461 for combined gross sales while in new clothes and jewellery,
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