There is immense growth potential in India’s Fashion E-commerce domain, especially as we move towards the world of multiple touchpoints, where brands are looking to connect with consumers online. India’s online fashion retail market share is expected to increase by $22.97 billion from 2021 to 2026. The market’s growth momentum will accelerate at a CAGR of 18.83%.
Read on to see how Fashion E-commerce brands can deploy strategies to address the evolving customer needs and create rich brand experiences.
What do Visitors want?
Fashion comes alive with what can be seen. For an E-commerce business planning to survive in the digital transformation, visibility isn’t just about boldness. It’s about catching the right set of eyes for both short and long-term growth. Leading fashion retailers leverage shoppable content, visual commerce, and social media to deliver the optimal brand discovery experience.
Myntra, India’s 3rd largest online marketplace, has a “Try and Buy” service available in 31 cities, allowing users to order multiple items and only pay for the ones they want after delivery has been made. Powered by stunning visuals, clever styling algorithms, and sometimes input from human stylists, fashion retailers have built tremendous amounts of brand loyalty to increase average order value (AOV).
Investing in Technology
The fashion industry is tough, and many brands are in a massive digital transformation. Retailers need to embrace trends, tools and technologies that will allow them to win the loyalty of today’s shoppers. Utilising interactive visual design like VR, AR, and 3D imagery, brands can give a better sensory experience and an understanding of what to expect with their product while shopping online.
A survey found that 66% of people are interested in using augmented reality technology for help when shopping. They like to visualise where and how a product would fit into their lives. Transforming E-commerce players like Zovi and Roposo have created standardised virtual trial rooms helping consumers try on the product virtually so they can get an overall appeal of a product.
Social Media: The Game Changer
Far from being just a buzzword, social media commerce is now a channel adapted for digital branding, especially by D2C brands. As a result, social commerce will reach astronomical levels, with India projected to have more than 228 million social commerce shoppers by the end of 2022, a 45% jump from the current user base.
Write accurate product descriptions and provide consumer feedback in a collapsible form to allow possible consumers to quickly learn what everyone has to say about the item in question. The BNPL (buy now pay later) is a feature increasingly preferred by consumers. It allows consumers to make their purchases at the click of a button and enables brands to minimise cart abandonment and increase their order conversions.
Build on SEO Strategies
Standing out from big-box retailers is tough, especially when they dominate on SERPs. So it’s important to look for unique SEO services and strategies to increase visibility, website traffic and brand awareness. Researching words with a high search volume and low keyword difficulty is recommended. And after making a list, be sure to categorise these words so that you know what pages to optimise.
Fashion brands can take advantage of seasonality and keywords surrounding current/upcoming trends and special events like Christmas sweaters, spring dresses, etc. It’s critical to optimise title tags, meta descriptions and product descriptions to rank organically for the specified keywords. A report states that keywords with ‘near me’ phrases are likely to increase conversions. At least 28% of all searches for a product or service nearby will result in a purchase.
Deploying Omnichannel Marketing
All marketplaces are currently battling for consumer attention and brand positioning. For fashion brands with a powerful omnichannel presence, their efforts are really paying off! Meesho has a social commerce model, encouraging user interaction via the mobile app and providing a platform to sell through Facebook, Instagram and other social networks.
The overall average open rate for cart abandonment emails is 40%, with a CTR of almost 29%. Therefore, retargeting on email is the easiest way to fix abandoned carts and turn hesitating subscribers into full-time customers. Cross-selling and Upselling are common methods for order confirmation emails or receipt of delivery emails. For example, a simple next-order discount coupon can make users come back sooner than expected.
By 2025, E-commerce is expected to account for one-third of all global fashion sales. As fashion inches towards rosier conditions worldwide, industry leaders have a more hopeful outlook than last year. The E-commerce industry will keep evolving at breakneck speed for the foreseeable future, and preparing yourself, and your brand for these advancements will arm you with the skills you need to grow your fashion E-commerce store in 2022 and beyond!