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Explaining the reason for the size of the denim market which overrides the other categories in bottom wear, Manwani shares, “It is important to understand that denim comes under the casual wear market. Given its versatility, it is popular as a choice for casuals as well as formals. In terms of casual trousers and denims, the latter has a bigger market share because of several reasons which include the fact that denim is worn by men, women, girls and boys – across all age groups. It is a perfect clothing choice for everyone, unlike casual trousers. Secondly, denims have a pan region appeal where people prefer denim because of its durability, comfort and suitability in terms of occasions (since it can be worn as a western outfit or even paired with traditional ones). It is popular in urban and rural regions whereas casual trousers enjoy major market share in urban regions only. Affordability too plays an important role as denims are easier on one’s pockets as compared to casual trousers, be it in stores or on e-commerce portals. Coupled with easy accessibility, it becomes an ideal combination of factors for consumers to take into considering, before making their final purchase decisions.”
Kishore says clean-cut cotton trousers for work wear are the in-thing today. “People at work do not mind sporting chinos. Jeans are yet not accepted but chinos enjoy a huge fan base. Both chinos and smart casuals, are showing significant growth. However, the cotton trousers led by chinos have shown a higher degree of growth.”
Currently the sports segment is valued close to around US $3.3 Billion here in India and is growing an approx to 9 percent year-on-year. This market is expected to touch around US $5.5 billion by 2020. Sports holds a huge market potential as each city will grow and each market will mature. Health and wellness will be the prime important focus with the consumers and it’s very important for a brand like GO Sport to provide what the young millennial of this country wants.
“Indian casual wear market has grown over time with the changing lifestyles of consumers, the increase in the disposable income and the entry of international brands in our marketplace. Further digitalisation and online retail portals have proliferated the market variety and garments at a discounted rate. Consumers have started to purchase casual wear to complement their fast-paced life, along with giving them comfort, provides them with quality and style,” says Team WLS.
In India, we all are quite familiar with brand Fevicol®. Advertisements featuring Fevicol® have entertained as well as impressed us over the year’s. As a product it may essentially be drawing a majority of its revenue from industrial applications and market segments. So why did it feel the need to be a brand? Even pure commodities like Petrol, Diesel, Steel and Electric Wires are now being branded. The moot point is that companies, even in India have, over-the years, understood well that the status or image of a strong brand and ensuring brand loyalty would be a key differentiator. As also, a powerful influence in favour of one product over another, even in the B2B segments.
According to Das, over dyed trousers, micro printed trousers, linen and linen blends, regular light weight twill and heavy twill trousers are doing well internationally, he adds, “In India twills and dobby structures are doing great. Micro printed trousers are also doing well along with fashion colored trousers which are a craze in the Indian market.” He further points out the growing spread of athleisure seeping in the trouser category, “It is something which is engulfing every category in fashion. So we would see lots of hybrid styling in terms of fabric innovation and silhouette as well. The look is a mix of sports-casual fusion.”
“As clothing oneself becomes more of an art, the onus to dress for the best has become more relaxed. Here, the shift has emerged from staid power dressing to cool, Friday dressing. Friday dressing constitutes of breezy designs and print, perfect for the Friday bent of mind, where t-shirts play an important role in conveying a cooler style,” states Rishabh Oswal, Executive Director, Monte Carlo.
Today’s impatient consumers are constantly looking out for ‘uniqueness’ and demand ‘more’ from every product they intend to purchase. The age of digital connectivity has brought about an exorbitant shift not only on how individuals eat, sleep, live but also changed consumer behavior along the way. With a smart phone in every hand, today’s connected consumer has the power of internet to explore a vast reservoir of knowledge at any point of time. Find answers to their fashion queries and discover product alternatives per their expectations. As a result, consumers are more informed, impatient and demanding than ever before and expect brands to create experiences personalised to their distinct needs. No wonder, brand loyalty is as ephemeral as their attention spans now. Except if the brands constantly reinvent themselves, in line with the changing preferences and expectations of their chosen target audience.
Owing to the gradual shift of men’s apparel market towards casual wear such as denims, activewear and t-shirts/polo are growing at a much faster CAGR of 13 percent, 15 percent and 10.5 percent respectively. This is also a result of growing fashion consciousness and aspiration beliefs, higher disposable income, increasing corporatisation, and acceptance of specialised clothing with features such as odour resistant jeans etc., not just in metros, but also in Tier I and II cities across India.
Sportswear major Puma will soon bring a store design ID with inclusion of a number of digital interfaces at their flagship store at Bangalore’s popular high-street destination Indiranagar. The global ID, with multiple customer-facing interactive screens, endless aisle interfaces and certain design changes in footwear walls, lounge areas etc, will be first launched at NYC’s Fifth Avenue in August, followed up by the renovation of the Bangalore store under this ID.
It could provide security of demand and a strong barrier to competition entry. It could help increase product life cycle as well as profit margins. It enables a direct communication with end consumers and helps capture the full impact of brand promotion investments. Branding is perhaps the most effective tool to capture the cost of innovation and R&D for an organisation. Many years ago Tom Peters – the famous Management Guru said it well, “In an increasingly crowded market place, fools will compete on price. Winners will find a way to create lasting value in the customer’s mind”
Indian consumers have also started displaying an inclination towards environmentally-responsible casualwear products. Following the trends in European and US markets, eco-friendly fashion products have begun registering signs of growth in the Indian fashion market, including the casualwear market. The demand for casualwear products made from organic cotton, recycled apparel, etc. is growing in India. Interestingly, one of the global leaders in activewear has opened its first ever‘sustainable store’ in Bangalore. The store sells recycled casualwear fashion articles, shoes, and accessories. Built with recycled steel, the store has deployed sustainable recyclable energy management and lighting mechanisms. The company believes that sustainable stores will help them promote reduced carbon dioxide emissions, energy consumption, and use of water.