Shopping for clothing and accessories is personal chore that always motivates people. Ask yourself, don't you enjoy shopping?
There is no doubt in saying that shopping is an exciting experience. In recent couple of years, the way of shopping has changed a lot, from mortar-stores and shopping malls, people have moved to online stores and ecommerce websites.
Not just people are eager to experience unusual shopping methods, but also businesses are also longing to implement more engaging shopping experience to attract more users. In this pursuit, both small and big brands are combating with each other.
The online fashion shopping craze has grown and its market share has reached up to 27% ( by 2018), as per the Forrester report. The market growth has experienced huge hikes in textile, footwear eCommerce sales, which includes 16.5%.
Along with that, the number of shoppers online has increased up to 58% in the fashion retail segment. In such settings, investment in creating superior online shopping experience could be a great opportunity for fashion retail brands.
This space is growing rapidly and fashion retailers are striving to leverage this concept in order to seek profit. Here are some reasons behind the growth of online fashion industry that retailers should know before entering in this race.
#1. Investors are looking positively at the growth of fashion eCommerce
Various businesses like Souq, Awoke have created a new path for aspiring eCommerce entrepreneurs by nailing down huge amount of investment. These are only a few examples, which show investors are looking toward fashion eCommerce more positively.
This is the biggest reason one should invest in fashion eCommerce. It is hard to maintain eCommerce success at a perpetual scale, it is essential to boost up the shopping experience. For this, your online store should offer remarkable experience to cutomers. Retailers with customer friendly online services can only take advantage of growing opportunities.
The one who can create a better more personalized online store experience can earn customers' trust and can create better relationship. This can help them boost up sales and investment interests.
#2. Fashion eCommerce is evolving at a regular pace
This space is growing and evolving at a faster pace. A number of upgrades are taking place, that are eradicating various doubts from the mind of consumers, such as buying clothes without even trying them. This is the major concern for consumers. In order to leave this thought behind, retailers are darting ahead with an amazing concept to offer augmented shopping experience to consumers. They are investing in augmented reality that enables virtual 3D representation of clothes and offers outstanding buying experience. This technology allows consumers to see how cloth does look and certain parameters of clothing like color, fabric and more,
Even some fashion retailers are looking for ways to boost the creation of online try-on experience and online size guides with comprehensive detail.
#3. Offer opportunity to engage online shoppers
Fashion brands are trying to attract more shoppers to create strong social media relationships, but engaging users with quality service only is not enough. Businesses have to create a strong relationship with customers. In brick and mortar stores, you can personally interact with customers. But! This is not possible with online stores. However, eCommerce stores are striving to offer quality alternatives to remove the uncertainties among customers and offer social proofs.
Customers are very tech savvy these days and using various online source to gather the style advice to make buying decisions. For this, they are using reviews, forums, Q&A pages, and user-generated content. Besides, they are able to connect with different influencers, decision makers, and brands.
As per some recent surveys, a majority of customers check reviews first and then form their buying decision on the basis of those decisions. Indeed, these are great ways that allow you to engage users online. With these methods, you can make and do good content marketing, and take advantage.
#4. Fashion brands are enabling to incur more advantages of modern technologies
In recent years, internet has become a great place of technical advancements. In this space, the utilization of social media has increased. Indeed, social media platforms are great source of information that enables people to gather a wide range of data. Being information hubs, these platforms allow retailers to cater their product information to customers.
Another thing is mobile application, that is also another source available in the hands of people, that is allowing people to browse a variety of information. Fashion apps are enabling people to browse clothing, footwear, altogether allowing them to learn about latest styles and fashion.
The continual advancements and improvements are creating the need for more effective technologies and allowing fashion brands to take advantage of these technologies. With improved tools and technologies, developers can create strong relationship with the audience.
These are the main reasons behind the growth of this sector, however, economic merger is another factor. According to an analysis, sharing economy is merging into fashion eCommerce. Surely, the concept of sharing economy compels you to think about the brands like Airbnb and Uber. Though, the notion is extending its reach to fashion. Millennials are pushing this trend of disownership, it is possible that they have the money to buy expensive clothes, but they are looking for convenience and great experience.
In such scenarios, eCommerce setups have great opportunities to offer a unique experience to customers and earn profit. Ecommerce platforms like Waki are doing good in this flourishing market and indeed, the opportunities are endless for both businesses and customers.