Indian womenswear market to beat menswear by 2025
According to a report titled, ‘Women’s Apparel Landscape in India’ by Avendus Capital, the women’s apparel market will overtake menswear by the year 2025. The report claims that Women’s apparel which accounted for Rs. One lakh crore of the Rs. 2.6 lakh crore apparel market in 2015 is growing at 11 per cent CAGR, while the branded segment is noticing a 20 per cent growth.
It also highlights understanding of women’s shopping behaviour, a significant shift towards branded apparel and the various distribution channels available in the market. Women’s branded apparel market is expected to grow at around 20 per cent, raising its share of the total market to over 40 per cent.
The report attributed the growth to factors such as the entry of branded players including foreign labels, increase in number of working women and spending power, ease of retail trade and the shift to ready-to-wear and aspirationbased shopping.
“Impulsive buying, online and digital shopping, availability of a plethora of niche brands and the influence of social media are also changing the women’s apparel landscape,” said Abha Agarwal, Director – Investment Banking, Avendus Capital, adding, “I believe ease of payment, the growing concept of visual merchandising and seamless shopping and delivery experience will make the women’s apparel market more attractive going forward.”