Looking presentable is important in every aspect of life,
and these days one's wardrobe is key to making a favourable impression on the
world. There is something for every occasion and place- evening wear, office
wear, party wear, bridal wear, festive wear, casual
wear; the list is endless. Unfortunately, with the recent economic downturn,
the apparel market registered a downfall in sales and this trend has not
changed even during holiday seasons. The holiday season last year did not augur
well for the apparel and textile sector, but hopes are high that this will
change for the better this time as consumers have now started adjusting to the
economic slowdown. This is already evident from the fact that the apparel
market has witnessed better sales this financial year
than in the previous one.
The major reason for decline in apparel sales has been the
inclination of buyers towards gadgets. People's salary growth has been sluggish, and this has
compelled buyers to make a choice between gadgets and clothing. But this year has been promising for apparel sales due to
improved personal finances. According to Accenture's annual holiday shopping survey, the apparel market can expect at
least 25 per cent consumers
to spend more on shopping this year compared to only 20 per cent in 2013.
The sales and profit margins of many retail apparel brands
have dipped, which has encouraged some stores to concentrate on price tags.
Retail stores have chalked out a detailed plan to allure customers this holiday
season by working on improving the in-store
experience for shoppers and by relying on some key fashion trends this season.
Faux denim in colours like gray and burgundy, shirts with social media friendly
messages, and shirts and tops in plaid- these are just some of the things that will be presented to shoppers as part of this revamp.
Another strategy that retailers are employing to boost apparel sales is by
simultaneously offering discounts and investing in promotions. In the United
States, discount offers by retail apparel stores
managed to coax customers to shell out money in the last holiday season.
Inspired by the success of their American counterparts, retailers around the
world are working on this approach.
According to the Popsugar Insights Q3
retail-apparel study, an estimated 47 percent of
women in America find inspiration from a brick-and-mortar store to get their perfect apparel. This study
also reveals that around 42 percent of women buy holiday clothing after going
through blogs and websites, while approximately 31
percent of women find inspiration on social media streams. The eagerness of
customers to buy apparel online has also increased significantly this year. The
study also reveals that 43 percent of women plan to spend over half of their
total apparel spending online during the upcoming
holiday season. Online apparel shopping guarantees an uncluttered ambience
unlike actual markets that are crowded during holidays. Moreover, apparel
websites that offer free shipping of merchandise have witnessed increased e-shopping during holidays.