Mr. Anurag Rajpal, CEO of The American Swan Lifestyle Company, an online lifestyle and fashion brand in India, told fibre2fashion, “Some of the key challenges faced by apparel retailers are forecasting, sell-through, inventory management, merchandise mix, etc.”
“It is very important for any brand to have an appealing and relevant assortment, getting the pricing right, having control of stock and product mix, understanding the consumer and changing markets as well as getting the business model and margins right,” he informs.
According to Mr. Sanjay Shroff, founder, director and CEO of Styletag.com, an online retailer of luxury garments, the high cost of real estate as well as choosing the right location are the biggest challenges in brick and mortar format of retail stores.
Talking about the challenges faced by the Indian online retailers, Mr. Rajpal says, “In India, there are challenges of low per capita consumption, combined with the demand for deals and discounts. In such a scenario, margins play a very critical role because reduced margins affect profitability and it is important to get the right discounting strategy.”
“In recent times, we have also seen reduced profit margin and venture funding in apparel segment which pose challenges in scaling-up a business,” he informs.
Mr. Shroff says, “Although e-commerce is fairly new, customer acquisition costs is a big challenge.”
When asked about solutions to overcome these challenges, he says, “Dedicated cluster for particular categories of goods might be one solution.”
Mr. Rajpal concludes, “Only a thorough insight and experience of the trade and consumer along with vendors and cash flow management, employing best practices and constant gauging of response can help achieve a stronghold.”
Fibre2fashion News Desk - India
| On 20th May 2022
After US treasury secretary Janet Yellen called for tariffs cuts on...
The world economy is projected to grow by 3.1 per cent in 2022,...
Reducing logistics costs is crucial to raising competitiveness of...
Ensured payment of fee was least concern for students
Always best to produce under own supervision
National Institute of Fashion Technology
Campus placements are low due to lockdowns
EptaInks is the screen-printing division of Eptanova, a company that...
Trützschler, one of the world's leading textile machinery manufacturers,...
<font color="#333333" face="Arial, sans-serif">Polygiene is a market...
A.Celli Nonwovens offers a complete range of rewinders and rewinders...
MIP is a manufacturer and distributor of high-performance textiles and...
Dr Anup Rakshit
The Indian Technical Textile Association (ITTA) is the only association of ...
Label Sunita Shanker
Inspired by the rich traditional crafts of India, Sunita Shanker’s work is ...
Label - Summer Somewhere
Summer Somewhere is a conscious clothing brand designed for every girl in...
Vidur Adlakha & Riccardo Bennidini
With an active presence in US, Italy and India, clothing brand La Fuori...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.