Indo-French Business Relations | | Money Control
From mid-level to luxury — almost every retail brand in the country is now investing in their digital platform, and not without a reason.
According to Facebook-KPMG's latest Zero Friction Future Report on the Indian fashion industry, two out of three apparel purchases and seven out of 10 fashion accessory purchases will be influenced by mobile by 2022. Nearly half of this will be driven by Facebook, amounting to a $110 billion sales opportunity.
Additionally, the mobile will influence two in three apparel purchases, amounting to $66 billion opportunity for brands, half of which will also be driven by Facebook.
“The fashion spectrum in India has evolved considerably, and the apparel and accessory market is projected to reach $102 billion and $155 billion respectively, by the year 2022. Today, mobile has become central to the way brands market and sell their products and engage with customers’ end-to-end. With our Zero Friction Future report, we aim to help fashion brands adopt relevant marketing strategies and reduce friction in consumer journeys across multiple touch-points, leading to improved conversion rates and increased revenue opportunity,” said Pulkit Trivedi, director, Facebook India.
Interestingly, the study also reveals that mobile-enabled purchase journey is 14 percent and 25 percent shorter than offline journeys for apparel and fashion accessories respectively.