Business Other News 28 Nov 2019 Offline apparel, acc ...

Offline apparel, accessory sales see marginal growth

DECCAN CHRONICLE. | SANGEETHA G
Published Nov 28, 2019, 1:28 am IST
Updated Nov 28, 2019, 1:28 am IST
In fashion and apparel, shoppers have shown a preference for ethnic brands over western brands.
The overall sales of jewellery in value terms saw a growth of 12 per cent and the average transaction value went up by 15 per cent.
 The overall sales of jewellery in value terms saw a growth of 12 per cent and the average transaction value went up by 15 per cent.

Chennai: Hit by the onslaught of online channel, offline sales of apparel and accessories during the festive season witnessed only marginal growth this year.  
Jewellery brands in the metro cities experienced about three per cent decrease in the number of shoppers in the festive quarter of 2019 against the year ago quarter, found a study done by Capillary Technologies.  

The overall sales of jewellery in value terms saw a growth of 12 per cent and the average transaction value went up by 15 per cent. However, there has been a 20 per cent rise in gold prices this festive season against last year.  Hence the volumes should have been down compared to last year.

 

Footwear sales witnessed a rise of 4 per cent in 2019 compared to 2018 and fashion and apparel saw enhanced spending of 7 per cent compared to last year.

In fashion and apparel, shoppers have shown a preference for ethnic brands over western brands. The study found that a premium ethnic fashion brand saw a surge of 77 per cent in footfalls. However, the number of consumers who actually made a purchase came down by 12 per cent compared to 2018, indicating low conversions.

A popular French fashion brand saw a 35 per cent dip in footfalls two weeks prior to Diwali and it did not witness any significant number of purchases being made either during this time. While jewellery stores witnessed a dip in consumer loyalty by 28 per cent, both fashion and footwear industry saw a marginal 3 per cent rise in loyalty.

“The study highlights the preference of customers to shop offline during the festival season, particularly in categories such as jewellery and ethnic wear.
However, the key take away from this study for retail brands is to strengthen their consumer loyalty programmes and prioritise consumer retention,” said Aneesh Reddy, CEO and Co-Founder, Capillary Technologies.

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