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Indian apparel retail sector to grow at steady pace
19
Jul '12
Dr. Darlie Koshy
Dr. Darlie Koshy
Despite the apparel retail sales in India having slowed down in the past two quarters, the sector will continue to grow at a steady pace during the next few years.
 
Online retail will witness significant growth and the entire retail behaviour will slowly undergo a change owing to the increasing presence of global apparel brands in the Indian market, according to Dr. Darlie Koshy, Director General & CEO, Institute of Apparel Management & Apparel Training & Design Centre, run under the aegis of Apparel Export Promotion Council (AEPC).
 
Speaking to fibre2fashion, Dr. Darlie Koshy, said, “The retail apparel sales have been very slow in the past two quarters. In the current year, it is observed that suitable dates for marriage as per Hindu calendar are scarce, which could be one of the reasons, apart from economic slowdown and adverse climatic conditions.”
 
In view of the weak season, several domestic and global clothing retailers have already introduced promotional schemes or end of the season sales, few weeks earlier than the usual August or September months. “The discount sales have created some momentum, but there is definitely a pressure on the consumer to preserve the hard cash. There is also ‘wallet share stress’ with mobile, fuel expenditure etc. taking their toll,” says Dr. Koshy.
 
Over the past few years, the Indian apparel retail sector has witnessed a robust 15-20 percent growth. “Going forward, the growth rate may slowdown, but steady growth will continue because of increased income, more availability of better retail access points and availability of shopping options,” opines Dr. Koshy.
 
At present, the bulk of increasing consumption of ready-to-wear garments is coming from Tier II, III and IV cities. But, Dr. Koshy predicts online/e-retailing to be the most upcoming area as lot of investments is taking place in that medium.
 
“In the overall retail space, more consolidation will take place in textile and apparel sectors as flagship stores are being used for branding, while malls are being used for increasing footfalls. Even among malls, a great deal of differentiation is taking place with destination malls, luxury malls, budget malls, etc., which is going to change retailing in India,” avers Dr. Koshy.
 
Commenting on the changes in Indian retail sector, he says, “The India retail supply chain is undergoing change with the entry of brands like Mango and Zara, which specialize in shorter turnaround time.”
 
 

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