Both clothing and fashion have become an integral part of our day to day lifestyle and they are highly dependent on each other. As we all know, India is one of the world's fastest-growing economies and the apparel & fashion industry is the second largest contributor to the growth of this economy.
The domestic textile and apparel industry contributes 2.3% to India's Gross Domestic Product and accounts for 13% of industrial production, and 12% of the country's export earnings with a growing CAGR of 9.7%. By 2026, the retail market for apparel and fashion will reach to INR 7,48,398 crores. Besides, in India, this industry has emerged as the second-largest employer in the country providing employment to around 45 million people.
Some of the Major Reasons for the Growth of Apparel and Fashion Sector Are:-
The emergence of E-commerce Portals and Smartphones - Targeting customers on every screen be it on television through advertisement, on mobiles through applications or on desktop screens through e-commerce websites.
Influencer Marketing - Aligning a fashion trend with an influencer like a celebrity with a large number of followers.
Sales through Social Media - Companies are very keen to sell their products and for that, they are ready to gain potential customers on every social media platform, be it through direct advertisement on Facebook or by posting stories and posts on Instagram.
Young Population - Another major factor is that one-fifth of our population is between the age group 15-24. The people in this age group are very conscious of what they wear and like to be up-to-date with their fashion.
Other Things - Low prices, regular discounts, and growing income of the middle-class population.
In the coming future, these two domains will become more streamlined and will offer more options than ever before. There will be a whole new blend of this sector with technology that will allow brands to offer more personalized products and experiences to their customers.
So, it's time to make the most of the current situation of the apparel and fashion sector, by joining the industry as an Apparel & Fashion Sales Agent. It's high time that you join GetDistributors and be a part of this evergreen market.
Read More: 8 Tips: How to Take Care of Your Clothes
No comments:
Post a Comment