Smart phone as a medium of online buying will constitute 90% of the total online buying by December 2015 compared to 60% now with the rising proportion of smart phone usage in India.
“People now are going through more product page view on mobile than on desktop or laptop,” said Rishi Vasudev, VP, Fashion, Flipkart.com on the third day of the India Fashion Forum. The 3-day India Fashion Forum concluded here today.
The significance of smart phones has been further substantiated by a survey conducted by Planet Retail Shopology. According to the survey, “The spend via mobile is approximately $342 million in a year, a growth of 116% while the spend via computer has decreased from 52% to 32% this year.”
Sharing a global perspective of e-commerce at the panel discussion, Tim Perkins, Solution Specialist, WGSN INstock (Australia) said, “In 2012 the online spend was around 12.3% which rose to about 13.9% in 2013. There has been a 13% growth globally in the online retail apparel sales. More importantly, approximately 63% of women used internet to shop clothes online worth $4.7 billion in 2013.”
E-commerce, which is threatening to turn out as one of the most incredible innovative business, is the driving force for churning out data.
Adding his perspective at the panel discussion, Aditya Rath, Associate Director, PwC, said, “One has to be the disruptor in a world where experience goes beyond brand. Fashion retail has witnessed a lot of demographic shifts where now smaller smarter cities exist. There has been a major shift in global economic power which has accelerated urbanization process through technological advantages. Our main agenda is earning customers. The new age consumer wants to stay connected, make smarter decisions, bring in the innovation appetite and is willing to give feedback and reviews.”
About India Fashion Forum:
The 15th edition of India Fashion Forum 2015 (IFF) is scheduled for 18th – 20th March, 2014 at the Bombay Exhibition Centre, Mumbai. IFF has been born out of pure passion to boost fashion consumption in India by catalysing fashion brands to think RETAIL, thing LONG TERM and think FASHION FORWARD. It is India’s biggest fashion extravaganza (Workshops + Conference + Exhibition + Fashion Shows + Trends Theatre + Awards), by bringing together the biggest and the most respected names from the industry, not only from India but from all important fashion markets across the world, to share their invaluable knowledge and provide inspiration to the fashion fraternity. This magnum opus of the fashion industry will also celebrate excellence and recognise outstanding achievements with the IMAGES Fashion Awards – one of the most glamorous fashion awards extravaganzas in the world.