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Indian retail market is the fifth largest retail destination. Retail industry is
the largest segment in India , employing about 8% of the workforce and
contributing more than 10% of the country’s GDP . During the past
decade, retail industries have built up strong life-style brands positioning
positioning themselves to catter to the tastes and preferences of their
consumers and utilizing the increasing income of the end users. With the
economy recovering faster than anticipated , there is a drastic change in
the consumers spending pattern .
Apparel is India’s Second largest retail category (behind food and
grocery) representing 10% of the retail market . This rapid growth is
supported by the burgeoning Indian middle class. With rise in the
disposable incomes of the class of consumers there has been a rise in their
aspirations . Other factors that supporting these brisk growth include :
1. more apparel focused shopping malls .
2. Booming service sector- bringing in a new consumer class with a
greater exposure to overseas market .
3. continued penetration of credit card .
4. organized apparel retailing in tier 2 and tier 3 cities .
5. the opportunity of ready to wear clothing and western fashion for
women .
The value of the apparel market in India is estimated at around Rs. 20,000
crore . The branded apparel market’s size is Rs. 5000 crore which is a
quarter of the total share . The apparel market in Indiia can be categorised
into international brand and national brand . The top apparel brands in
India are Madura Garments , Arvind Mills , Provogue , Zodiac , Levis ,
Arrow , Lee , Nike , Park Avenue , Polo ,Adidas etc . Apart from these
brands India over the years has given birth to some of the finest designers
who have become famous brands not only in the country but in the
world . The introduction of a number of designers in the fashion industry
has given a further boost to the Indian fashion industry . India’s apparel
market is highly fragmented . Customers tend to be loyal to a specific
retailer – Shopper’s Stop , Pantaloon , Westside . This has led to a
thriving private label apparel market for ready- to- wear clothes and more
competition .
Apparel shopping in Kolkata has undergone phenomenal change with
the advent of modern day shopping malls in the city . The city of joy, as
its popular known is undergoing a renaissance . Kolkata has become a
high priority destination for domestic and international apparel retailers ,
attracted by its large population and rising mean disposable income .
‘shop till the Drop’ is the mantra of the new generation and fortunately
the Kolkata malls have enough to gratify any sort of customers .
Shopping malls exhibit variety of international and national branded
apparels under a single roof . In such a scenario , it is very essential to
study how consumers make their choices in Apparel & Fashion category
where there are several brands in the consideration set of a consumer .