India'S "Festival Economy" Has Become A New Business Opportunity

Ou Nan Festival, Dujia Festival, Diwali... In the past two months, the traditional festivals have brought a festive atmosphere to India and pushed the retail sales of the country to a climax. According to a report released by the India Federation of Commerce and industry, sales of India brand stores and shopping malls increased by 20%~30% compared with the same period last year, while online retailers' sales increased by 60%~70% compared with the same period last year. The holiday atmosphere and the consumption boom caused by a large discount make India retailers look like a "long drought". In order to expand sales, entity businesses have launched the strategy of "buy and give", and the electricity supplier has implemented the "return offer" measure. Clothing brand By pushing the new product strategy, we can seize the opportunity to sell the festival economy.

　 　 Holiday sales Promoting market spring returns

The traditional holiday that was not expected before has now become a life-saving straw for India retailers to expand sales. Since late October, shoppers' shopping crowding has strongly rebutted retailers' misjudgement. Despite no significant increase in sales during the festival, the sales peak of Diwali (a week after November 3rd) brought surprises to fashion brands and retailers.

Since entering the 2013 fiscal year, the consumer market in India has been sending positive signals, but the net profit data of the major brands are not entirely satisfactory, and intuitively reflect the slowdown in the industry's sales. In addition to a few brands such as Kewal Kiran and Zodiac, sales of most clothing brands in the first quarter of this fiscal year (July 2013 ~9) declined compared with the same period in the previous fiscal year, for example, Provogue fell by 11.37% while Cantabi declined by 27.55%. After a period of longer than expected retail slump, businessmen want to seize this opportunity to win the favor of consumers. Its promotional means include complimentary movie tickets and beauty experience cards, free parking and free door-to-door service. Sales of Future Group 's Central, Louis Philippe, Van Heusen, Arvind Brands and other clothing brands were greatly increased by the promotion of retailers, some of which increased by 40% year-on-year in October.

At present, India The total retail market is more than 31 trillion rupees. Its business form is also showing a more fragmented trend. Some of the town's brand stores are becoming more popular, and the sales of the same brand even exceed the stores in big city shopping centers. During the holiday season, more two or three tier cities choose to buy clothing and household goods near stores and shopping malls. The sales of these stores increased by 20%~25% compared with the same period last year. According to relevant forecasts, after the end of Diwali festival, the peak period of wedding spending in India will also arrive. It is expected that the festive atmosphere of the consumer market will continue to spread in the coming weeks.

　　 Online shopping platform is the absolute winner

Besides physical retailers, the online shopping platform is also the absolute winner of the holiday season. Many factors such as convenience shopping, full range of products, large discount and free gifts have attracted a large number of consumers. According to the latest report of India Federation of Commerce and industry, the sales volume of Internet is expected to increase by 65% over the same period last year. The most popular products on the online shopping platform include mobile phones, tablet computers, household appliances, home furnishings, furniture and clothing. Before the advent of traditional festivals, consumers have been eagerly looking forward to shopping sites can launch a substantial discount below the physical store, during the holiday season is to seize the opportunity to "kill" favorite products.

India's e-commerce market is still in its infancy, but compared with other western countries, its growth momentum is striking. India's e-commerce market is expanding at a rate of 50% per year, and its market size has reached 520 billion rupees. According to data from Technopak Advisors, a consultancy in New Delhi, it is estimated that by 2020, the number of Internet users in India will reach 800 million. With this figure, the scale of transactions in India's e-commerce market will also grow to $200 billion. With the huge market potential, shopping websites such as Flipkart, Jabong, Snapdeal, eBay and Indiatimes have risen rapidly, and competition in this field has become increasingly fierce. In order to take a place in the booming market, the electricity supplier can create its unique competitiveness by providing exclusive services and introducing fashion brands to consumers. Since October, a number of online shopping platforms have launched holiday promotion activities. Navaratra, Dusshera and Snapdeal websites offer 6% rebates for customers who purchase prepaid goods; Jabong designs different catalogues for Dujia Festival and Diwali festival; while the men's clothing and footwear products sold by Yebhi website offer 25% off preferential activities.

It is worth noting that the e-business platform has extended to two or three tier cities in India. In this market, consumers' awareness of fashion trends and brands is being strengthened, and the incomes of working women are also rising. These factors attract businesses to increase investment and meet consumer needs through different product combinations.

　　 Fashion brands push new products

The prosperity of the retail market has also prompted clothing brands to rack their brains to expand sales. Shirt brand Arrow launched a series of new products during the Diwali festival, including seamless shirts with Superlux technology and colorful colourful suits designed for holiday wear. In addition, in order to make the products more diversified, Arrow also introduced suede sport jacket, and the color changed from dark color to copper, red, yellow and other active colors.

Arrow brand currently has more than 150 independent stores and more than 400 agency stores in India. Because of the importance of promoting brand image during festivals, Arrow has increased the input of marketing advertising films. Vasudev, a senior executive at the company, said consumers always wanted to find new elements, which led to changes in their dress habits. In traditional festivals, Indians no longer like to wear long sleeved collar shirts, suits and jackets have become very popular, especially in the northwest. So the company will make new design and style changes for these dress styles. It is understood that Arrow's younger brand has also designed a tuxedo series for festivals, hoping to attract consumers' attention.

During the euro Festival, Louis Philippe adopted a small number of new products and synchronized sales at the end of the season, which not only satisfied consumers' demand for new products, but also effectively relieved inventory pressure. Some other clothing brands carry out an incentive plan for store employees to sell their products, fully mobilizing the enthusiasm of their staff and further promoting sales during the festival.