India's Retail Fashion Industry Dons A Festive Avtaar For The Season
The festive season in India is not just about religious and cultural celebrations, it is also a time for businesses to sparkle. As India gears up for Diwali, Christmas, and more, the retail industry is all set for a shopping extravaganza. The annual surge in consumer spending during this period presents a significant opportunity for the Indian retail sector.
The Indian textile and apparel market size reached USD 172.3 Billion in 2022. The ethnic wear industry in India was worth over Rs. 925 billion in 2018, and it is projected to grow to a staggering Rs. 1.7 trillion by the year 2023.
When it comes to festivals, fashion is king. From traditional attire to the latest trends, Indians go all out to look their best during the festive season. This year is no exception, as consumers flock to retail stores and online marketplaces to update their wardrobes. Here is what the industry says about getting ready for the festive season.
Fashion Takes Centre Stage
Traditional ethnic wear, such as beautifully embroidered sarees, kurta-pajamas, and lehengas, takes precedence during Diwali and Durga Puja. The market witnesses a surge in demand for designer and handwoven garments as consumers seek to strike a balance between tradition and trend.
Festive sales contribute majorly to the annual revenue for brands. Says Shalini Gupta, General Manager Taneira by Titan, “Saree is a 5000-year-old category and presents tremendous opportunities for growth based on the authenticity of the weaves and the credibility of the various clusters. India’s saree market has been growing at an exponential rate. At present the saree market in the country is estimated to be close to Rs 50,000 crores and has been growing at a CAGR of 6-8 percent. The festive season has consistently contributed 30 per cent of our total sales. Anticipating significant growth this year, we forecast a 100 per cent increase compared to the previous year, primarily driven by the expansion of Taneira’s existing stores and the introduction of new stores across the country.”
The ethnic brand has joined hands with actress Mrunal Thakur to showcase its festive collection. Says Gupya, “Our association with Mrunal Thakur for 'The Queen’s collection' is a celebration of the present-day woman. Much like the saree defies the limitations of a mere garment to transcend into style, sensibility, and self-expression, the contemporary woman articulates her identity through her sartorial choices and actions. In doing so, she emerges as a sovereign in her own right, a queen of her own tale. When a modern woman drapes herself in a Taneira saree, magic ensues. There is an inherent regal feeling, a surge of confidence, and a natural spring in her step.” She also mentions that the brand is offering a host of offers for the consumers especially in the festive season.
Dhruv Toshniwal, Founder & CEO, The Pant Project says, “Our Power Stretch Pants have been a huge hit in the festive season, as they are just the most comfortable and versatile pants that one can own. They can be paired with a Kurta for a smart casual Indian look, or a Bandi for a more formal look. The Pant Project is expecting sales to double during this festive season, and hit record highs. We have started the festive season strongly, selling more than 1000 pants per day online and aim to continue to grow our sales as our customer base grows across the country. We expect the festive season to be strong all the way through till the end of the year.”
Shalvi Govil, Head of E-commerce & Operations, The Indian Garage Company says, "Our party collection is a vibrant fusion of elegance and contemporary flair, crafted to suit the myriad festivities and celebrations that define India’s social calendar. With a young, dynamic population, the demand for fashionable and affordable attire is soaring. Our brand is poised to meet this demand."
A Mix of Traditional And Contemporary
The festive season often sees a blend of traditional and contemporary styles, appealing to diverse consumer preferences. Siddhant Aggarwal, Director of Operations at KAZO says,”Our AW’23 Collection launch sets the stage for an extraordinary season ahead, perfectly attuned to the demands of the upcoming season. With a curated selection of elegant and party-ready attire, we're all-set to meet the demand from our trendsetting customers. From dazzling celebratory ensembles to sophisticated, professional looks, we've covered every facet of a modern woman's lifestyle.”
Kazo claims to have achieved over Rs 100 crore revenue in the last season and is aiming for 1.5X growth. Says Aggarwal, “ As we approach the festive season, the demand for our sequin dresses and party wear is surging, emphasising the relevance of our offerings. Our customer-centric approach extends beyond our designs.
We've introduced tailored offers across platforms to enhance the shopping experience for our diverse clientele. This strategic move not only provides added value but also serves as an incentive for our customers to explore and indulge in their fashion choices.”
Talking about fusing contemporary with traditional, Ritu Jain, Creative director at Stado Fashion says, “As the festive season approaches in India, Indian apparel and grooming brands are preparing to cater to the eagerness of consumers to embrace the festivities with style and grace. They are blending tradition and trend, offering personalised shopping experiences through virtual trial rooms, AI-driven style recommendations, and personalised consultations. The fashion and grooming industry is also celebrating diversity, with collections catering to different cultural backgrounds and traditions. By blending tradition with innovation, personalisation with sustainability, and digital influence with cultural diversity, these brands are transforming the way people perceive and experience festivities.”
Comfort Is What The Consumer Wants
Retailers across India are well aware of the festive season's importance and are gearing up for the rush. They are leaving no stone unturned to enhance customer experiences, both online and in physical stores. Festive season is not just about looking good, it is also about being comfortable. And modern day brands in India keep both in mind. Sanjay Vakharia, CEO of Spykar, says, “At Spykar, we believe in making every moment fashionable, and this season is no exception. Our designs are crafted to empower our customers to express themselves confidently. As we gear up for the festive season, we are committed to providing a wide array of stylish and comfortable party wear options that resonate with the spirit of dressing up in India."
Vakhari adds that the brand is gearing up with a multi-pronged approach. “We understand the importance of introducing new designs, experimenting with fabrics, and offering a wider colour palette to appeal to fashion-conscious consumers. The brand is also focusing on enhancing its online and offline presence, including e-commerce channels and exclusive retail outlets.
Abhinav Kumar, Whole Time Director and CEO, Brand Concepts says, “For the upcoming festival season, we are geared up to make it an extraordinary experience for our customers. To begin with, we are unveiling exclusive festive offers, tailored to add that extra sparkle to the celebrations. Moreover, we understand the urgency that often accompanies festive shopping that is why we are looking to express delivery services, ensuring that the chosen items reach our customers promptly, so they can revel in the festivities without any worries.”
Kumar further adds, “Our enhanced user interface and experience are designed keeping our customers’ needs and wants in mind. We have integrated certain aspects that will make their browsing and shopping experience not only efficient but also enjoyable. We believe in the power of simplicity and intuitiveness, ensuring that finding the perfect item is effortless.”
The increasing popularity of online shopping platforms has made e-commerce a vital part of the festive season. Retailers are investing in their online presence to meet the demand for convenience and variety.
Sidhant Keshwani, Founder & CEO, Libas says that festive season is the best time for both offline and online sales. “This festive season, we are looking to see a lot of traffic on both its online and offline platforms. In preparation for the upcoming season, w
e have curated a diverse range of collections that seamlessly blend modern sophistication with traditional heritage. Our offerings encompass premium silk ensembles and heavily embellished occasion-wear styles, meeting the varying preferences of their customer base.”
Keshwani adds that digital presence is important for every brand. “Recognising the significance of online platforms, we are ensuring a robust digital presence through its website and partnerships with popular e-commerce platforms like Flipkart and Myntra. Moreover, we are also reinforcing all these initiatives with strategic marketing efforts, leveraging digital channels, and with a strong emphasis being placed on enhancing the customer experience by offering personalised assistance.”
This year, as India dresses up for the festive season, it's not just about looking good; it's about supporting a thriving retail industry and participating in the grand tradition of celebration that unites the nation. It's a season that brings economic prosperity, joy, and the timeless charm of festive fashion.
