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Our bank account isn't going to like this... It's payday and we have solemnly sworn not to spend our wages in one fell swoop. But H&M has announced a brand spanking new scheme which will do nothing for our outrageous spending habits. The Swedish giant has launched a H&M Club in the UK. Sounds intriguing, huh? All you need to do is download the app and you’ll receive one point for every pound spent in store and online. These points will then unlock exclusive offers and experiences. The best part? To welcome customers, the high street store is offering a 20 percent discount when you sign up. And that’s not all.
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Online fashion brand FabAlley has witnessed 65–70 percent growth in 2016 and is expecting 80–100 percent growth in 2017–18. Amazon Fashion has witnessed 100 percent annual growth rate. New startups with multiple business models are coming up in the space, Seenit, Adoro, Shopo, Pretr, Liberent, and Flyrobe among them. Corporate giants like Future Group, Reliance Industries, and Tata Sons have also entered the online fashion space with ABOF, Ajio, and Tata CLiQ, respectively. However, online retail is still less than 2 percent of total retail in India. More than half of e-commerce is made up by mobile phones and consumer electronics. According to Arvind Singhal, Chairman of Technopak Advisors, e-commerce contributes to just 1 percent of the total fashion retail market, worth $50 billion [approximately]. Thanks to the changing customer mindset, technological developments, and newer business models, the fashion sector has been e-commerce’s star performer in 2016. YourStory finds out more. The customer is changing with the times. Fashionable trend-focused products, not just basic ones, now sell better.
For the original version including any supplementary images or video, visit https://yourstory.com/2016/12/online-shopping-for-fashion-in-2016/