The online marketing industry has been flourishing and expanding. For many, it is a successful venture to invest in. And when it comes to everyday fashion, online fashion portals are the most successful ones. These sites have even been trying to replace traditional markets. Almost everyone buys everything online — from attires to makeup to home supplies — since it is effortless and quick to do so. Gone are the days when people used to go to different markets and spend the entire day going from one shop to another. And when it comes to high-end products, the online fashion portals are attracting millions of visitors. The bonus here is that you get a lot of options online, along with great discounts.
Guardian 20 talks to various owners of online fashion portals who voice their opinions on how the online marketing industry is dominating the traditional market.
Talking about traditional market, Pernia Qureshi, an Indian fashion entrepreneur and founder of www.perniaspopupshop.com says, “Traditional and online markets are poles apart. In online market, the whole world is your oasis and you can sell everything, everywhere and to everyone. In traditional market, you have a physical store and people have to make an effort to be there to buy the product, advantage being that they can touch the product and take it with themselves right away. But these days we all are busy, so online market is a better option. It is really customer friendly. Choose, Click, buy and get it delivered at your door! With easy return and refund policies, shoppers are now more comfortable with his digital mode of shopping.”
As many fancy designer bags and apparels, online fashion portals is something that has really captured the attention of consumers, people are aspiring for luxury products but are not able to afford it. Therefore, online platform is something where people can experience the thrill of buying luxury. It also features premium and luxury items at deeply discounted prices.
“We want to give our customers a guilt-free shopping experience by offering best-loved designer accessories at great prices and with trusted authentication —all of it online.”
In the same line, Rashi Menda, CEO and founder, Zapyle, says, “At Zapyle we are solving the problem of getting premium products at great prices. There’s been a sudden demand for premium and luxury products in the country. Accessibility is the biggest problem that we are solving here. We have brand new collections of international brands like Tory Burch, Jimmy Choo, Gucci and more where consumers can get these items at discounted prices.”
With an increase in awareness of premium brands amongst younger audience the demand for owning these products is increasing drastically. The portals are providing them luxury products by big designers. Also, designers are collaborating with online fashion portals as it gives them access to a global clientele. With the kind of reach online portals provide, designers can have their collections available from New York to India. All their launches can now be digitally covered and helps in building their brand.
Choosing to go for high end products, Anvita Mehra, founder, Confidential Couture says, “People today are more aware of luxury designers and our goal is to make them accessible to a larger spectrum of people by giving them the best of deals and aiming at simplifying luxury. We want to give our customers a guilt free shopping experience by offering pre-loved designer accessories at great prices and with trusted authentication.”
“Also, it has facilitated a paradigm shift in the consumer’s thought process about pre owned luxury goods. It has also provided a platform for people to sell their pre-loved accessories, which hitherto did not exist in this market. It has also opened up the luxury market to a whole new aspirational set of people who perhaps could not afford them earlier. Our target audience is everyone who aspires to own a luxury brand and we welcome all the sellers who want to sell their luxury items,” adds Mehra.
But there are certain kinds of consumers who are targeted when it comes to high end products. Elaborating over such consumers, Amit Rawal, head of business at Tata CliQ Luxury, says, “There are three distinct segments that form our target segment –the traditional luxury buyers for whom luxury is a lifestyle. Secondly, young high net worth individuals who have a high disposable income and for whom luxury is way of rewarding themselves. And thirdly, the aspiring millennial for whom luxury is a style statement.”
Online market is not only limited to designer apparels and expensive bags, online shopping is dominating the market now in terms of jewellery also.
Kapil Hetamsaria, CEO and co-founder, VelvetCase.com, says “We expect the online jewellery retail to grow at a similar rate in next five years. Online jewellery retail market offers exponentially high choices, ease of buying, 3D modelling, design customization free trail at home, and a host of other new features that will make jewellery buying online a lot more fun, easy and transparent for retail consumer. For instance we are seeing a lot of growth in the silver jewellery market, especially silver Swarovski jewellery. Artisanal Jewellery like temple jewellery or tarakasi jewellery is also now coming into the mainstream with an online platform like ours, which will continue to grow in 2017 as well.”
But as there are numerous fashion portals now, competition is growing among all these websites. Talking about the competition, Hetamsaria says, “Well, I can talk about the jewellery sector. Indian retail jewellery market is largely unorganised with a lot of small retailers spread across the country. But with the advent of e-commerce, demonetisation and young metro population with high disposable income, the online jewellery segment is growing rapidly with enough space for anyone to grow big in this segment. So, the question is not really about competition, but more about how we can plug the holes and bridge the gaps that are there in the traditional retail jewellery format. That is where our focus is.”
Although online market is booming today, it must not be forgotten that traditional marketing still is continues to be popular among the less tech- savvy population of the country.