Rise in fashion sales by 210% in H1 2021: Snapdeal
Snapdeal, an e-commerce company, announced that its sales in the fashion category have increased by 210% from January 2021 to June 2021.
Snapdeal, an
e-commerce company, announced that its sales in the fashion category have
increased by 210% from January 2021 to June 2021.
The company gives credit to the work-from-home culture that has been
started due to the pandemic, for the growth in sales. The firm also said that
the other factor which has contributed in the sales is the desire of the people
to buy new clothes to meet their friends and family after a long gap. There has
also been an increase in the sales of masks, sportswear, and loungewear that
includes shorts, t-shirts, track pants, tops, etc.
In the apparel sector, “value-buying†has become a common theme.
According to a statement given by the firm, it is said that the most popular
price range for a fashion item on the platform is around Rs 300 to 450. H1 of
2021 has seen double growth in the purchase of the item that falls within the Rs
450 segment.
There are multiple reasons for this shift from expensive brands to
affordable brands. Some of them are apprehensions of further waves of Covid-19,
prioritizing needs in their budget by consumers, the impact of second wave, and
increased supply of value-merchandise. As per data, in the women’s
fashion category, the sales of units grew 3.5 times while in the men’s fashion
category, it grew by 3.25 times.
Source – Business Standard
Image Source: Wikipedia
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