A recent study carried out by PWC reveals that online shopping in India is now used by almost 50% of the apparel consumers. These shoppers are searching online in order to get more variety and better deals, showing that the influence of digital channels is continuously increasing. What’s more interesting is that around 40% of Indian consumers’ purchase decisions are influenced by Bollywood and celebrities.
Economic Times revealed that from this study, it was found that two-thirds of the shoppers agree that their ideal shopping experience would be defined by access to leading brands. Most are willing to pay four times for access to branded apparel.
Consequently, Rachna Nath, retail and consumer leader at PwC India states, "this implies luxury brands need to align price with brand equity as premium pricing reflects exclusivity and quality, which attracts affluent developing shoppers looking to showcase their status".
“As the buyer becomes more informed and we see the touch points to interact with customers changing, the way to provide them customised experience has also undergone a change”, Nath added. Brands need to ensure that customer relationship is given importance in order to avoid creating an unwanted reputation that could quickly spread due a bad-shopping experience.
However, the study found that security of online payment still remains an issue for almost 20% of shoppers.