Trends that continue to make a mark this year

Year 2016 was the year of many ups and downs. While some great investments poured into start-ups, we also saw major reshuffle happening at the top of many companies. E-commerce is here to stay for long and is going to offer customers innumerable choices at the click of the mouse.

Year of investments & acquisitions

In May 2016, several businesses such as 6Degree, Roposo, Blinge, Shopwati and Hoppingo raised funds. The year also saw one of the major acquisitions in the fashion ecommerce space, where Flipkart acquired Jabong through its unit Myntra in a cut-price deal. The acquisition looked at offering customers a wide spectrum of styles, products and a broad assortment of global as well as Indian brands.

While several startups emerged with differentiated offerings, existing ones strengthened their presence through tech innovations and market efficiency. Adoption of omni-channel strategies was a game changer for many startups and for the market at large. These fashion startups not only worked on improving their quality, price point, service and customer engagement, but also ramped up their operational strategies.

From pre-owned luxury items on sale to renting designer and branded apparel, fashion startups totally disrupted the shopping patterns of consumers in 2016. Tapping on the potential of online fashion space, corporate giants such as Future Group, Reliance Industries and Tata Sons forayed into the online fashion.

Virtual trial rooms

Customers no longer hesitated to make a purchase online in the fear that the product may turn out to be different from its appearance and size. With the help of virtual and interactive dressing rooms, customers could try out clothes virtually. Myntra launched ‘Try & Buy’ feature allowing customers to try 2-3 items at home, thereby solving the problem of size, fit and personal appeal.

Premium brands on board

The past year was favourable for fashion enthusiasts, as startups tied up with designer and international brands to serve customers dramatically better and enhance their shopping experiences. High end labels made their entry into online marketplace. Mango, Forever21 and Mothercare retailed under DLF Brands, are planning to launch an ecommerce site offering products under various categories for women and kids.

Customisation on the rise

Clearly this is the era of personalisation. Startups are constantly leveraging data science and machine-learning technologies to match customers’ personal preferences and consumption patterns. They are working on understanding the selection methods of a customer and giving recommendations based on their search history. Myntra is one of the online fashion marketplaces making use of artificial intelligence and machine learning for a personalised shopping experience, better product discovery and assisted buying. Fashion curation apps like LimeRoad, Roposo, Voonik are also carving a strong business out of recommending what to wear.

Private labels

In order to offer a complete wardrobe solution and affordable clothing to all, fashion startups AJIO and Abof introduced in-house brands. These specially curated assortments of ethnic and trendy outfits under in-house brands are helping customers enhance their own innate sense of style. Most of the collections are mapped into wardrobes of men and women depending on their life stage and lifestyle.

Omni-channel strategies

Several fashion startups are betting big on omni-channel strategies. Arvind launched its omnichannel platform NNNow.com, a non-discount driven ecommerce market space last year. Another unique fashion ecommerce platform Fynd that helps brands showcase their in-store inventory online launched a new product, Fynd Store to increase sales through omni-channel user engagement. The idea is to enhance customers’ shopping experiences, by leveraging the appeal including touch, feel and trial aspects– of a physical store, supported by the organisation and logistical convenience of a digital platform.

Men’s wear make a mark

While it’s women’s category that has rules the roost till now, but menswear have also started making a beeline into this ever growing marketplace. With fashion startups such as Roposo and Voonik launching an exclusive platform for men in 2016 with personalised clothing options and best fashion inspirations based on their personal preferences, fashion-conscious Indian men are no longer a myth.