June 25, 2020 4:40:52 pm
Titled ‘Turn the Tide’ by Facebook India, in association with Boston Consulting Group, the report states that nearly “one in two will look to cutback on apparel being a discretionary spend but a third will increase spending.”
As per the findings, affluent people are to be less affected by income uncertainty and are likely to have a “positive spending outlook” for women and men’s clothing in the coming six months. The same trend has been noticed among women of age 26 and above, and men who are 35 and above. Of the people surveyed, 55 per cent of those in metro cities and 48 per cent in non-metro cities were found to be looking to increase or retain spends in women’s clothing in the next six months; 58 per cent of people in metro cities and 50 per cent of those in non-metro cities are to increase or retain spends in men’s clothing in the next six months while 63 per cent of those in metro cities and 52 per cent of those in non-metro cities would do the same in case of children’s clothing.
The report found that 32 per cent of consumers were planning to trade down in apparel. Casual wear is likely to become the trend with 79 per cent of consumers unwilling to step out except for work, indicating higher need for casual and comfortable clothes in comparison to social occasion attires. Of those planning to increase spends on clothing, 40 per cent will expect discounts and promotions during apparel shopping.
The report also suggested a higher demand for fitness wear, now that people are focussing more on health and wellness in the wake of the pandemic. The time spent on fitness apps has increased 1.4 times post-COVID-19. Moreover, precautionary equipment like face masks are likely to become a fashion accessory.
During the lockdown, about 90 per cent of the consumers purchased apparel online and are willing to continue the same. About 44 per cent of the apparel shoppers surveyed will start or increase online search, especially those between the ages 36 and 45. About 50 per cent of the respondents are likely to return to shops or malls but will expect higher standards of hygiene.
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