apparel industry in india

7/28/2019 apparel industry in india

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CHANGING CONSUMER PERCEPTION

TOWARDS APPAREL RETAILINGININDIA.

SUBMITTED TO:- SUBMITTED BY:-

Ms. Harleen Sahni Aditya GuptaLoveleena Morya

Jasleen Sardar

MFM-I


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INDIAN RETAIL INDUSTRY:-

Retailing -worlds largest private industry with US$ 6.6trillion sales annually.

India is the fifth largest country in the world in terms ofRetail Industry.

The retail trade in India had a share of2007 8-10% in the GDP (Gross Domestic

Product) of the country.

2009 It rose to 12% and

Future Expected to reach 22% .

Retail industry is generally divided into Organized andUnorganized Retailing:-

Organized = 16% share in total retail industry.


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ORGANIZED RETAILMARKET
http://www.omretail.com/india/uploaded_images/organized-retail-market-india.PNG


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APPAREL RETAILIN INDIA:-According to the Annual Report 2010-11 of the Ministryof Textiles.

The industry currently contributes about 14percent toindustrial production.

4 percent to GDP.

17 percent to the countrys export earnings.

Direct employment to more than 35million people.It estimates that by 2015, the overall Indian apparelindustry would be worth Rs 2.88 lakh crores and theorganized market share will be 25 per cent of this.


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CONSUMER BEHAVIOUR:-

Consumer behaviour - is the study of individuals, groups,

or organizations and the processes they use to select,secure, and dispose of products, services, experiences, orideas to satisfy needs and the impacts that these processeshave on the consumer and society.

Customer behaviour study is based on consumer buyingbehaviour, with the customer playing the three distinct rolesof user, payer and buyer.

Consumer Lifestyle Reports in India provide current anddetailed snapshots of the unique behaviors, attitudes andspending patterns of consumers in India.


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CONSUMER BASE:-

India, with 1,220,200,000 (1.22 billion) people is the secondmost populous country in the world.

The Indian textile and apparel market size was estimated tobe Rs 2,73,000 crores ($58 billion) in 2011 .

India has a large and aspirational middle-class of 75 millionhouseholds or 300 million individuals.

the rise in the total number of Indian millionaires withinvestible assets, excluding main residence and consumerdurables of more than US$ 1 million, grew almost 51%.

Huge consumer base is one of the reasons for India to be on5th position in its Global Retail Development Index (GRDI)and second in Asia after China.


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CHANGESIN CONSUMERBEHAVIOURAND

LIFESTYLE:-

While traditional clothes are still worn in most of rural India,urban India is changing rapidly, with international fashion trendsadopted by the young and glamorous, in the cosmopolitanmetros of India.

India has emerged as the third most attractive marketdestination in the world for fashion apparel retailers.

Rapid growth and rising urbanization have spawned a newclass of consumers with more money to spend, and a growingpassion for fashion.

In Indias high-growth, fast-changing retail clothing market, wesee significant new growth opportunities for foreign and domestic

players.Population of youth has increased

Consumers are no longer sensitive toward sprice.

Influence of role models

Wide acceptance of e-shopping


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FACTORS INFLUENCINGCHANGESTOWARDS CONSUMER

LIFESTYLE:-

Indian apparel sales are expected to reach an estimated $25

billion this year, having grown in excess of 10 percent over thepast 5 years.

a growth rate faster than that of the overall India retail market.

This growth is being driven by a number of factors:

Increase in disposable income. By 2005, 21 million ofIndias210 million households already earned more than $4,000 a year,qualifying them for membership in what we call the consumingclass.

Further urbanization and the comparative youth of Indiaspopulation. India has large share of young population startingfrom the age of 15 25 who tend to shop more in recent days.


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Fashion increasingly a form of self-expression. Increasingly,Indian consumers are embracing the idea of fashion for its ownsake, as a means of self-expression, and not merely as a functionalpurchase.

Growth in the womens segment. Historically, the mens apparelmarket in India has been significantly larger than the womensapparel market. With only 20 percent of Indias urban women in theworkforce, womens wardrobes have traditionally been limited tohome wear and items for special occasions.

New occasions. As the lifestyles of Indias prospering urbanconsumers have evolved, their clothing needs have broadened,reflecting more varied usage occasions. Indeed, 38 percent ofIndian respondents to a recent study said they were highly likely to

buy apparel for special events.

Continued rise of organized retail. Large, branded storechains where products are systematically stocked and displayed,

will speed the transformation of consumer preferences.


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Mall Culture:- Increase in the number of malls that has beenopening in various cities of India are changing the shoppingexperience of the Indian Consumers.

Awareness and Level of education:- As the level of educationof the Indian population has changed tremendously in past years.Which makes them aware about the better options.

Other factors :- E-RETAILING

CULTURES

MARKETING CONCEPTS

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apparel industry in india