Indian consumers being cost-conscious, more so than the West has always been a known fact for fashion brands entering India. But now they are discovering that they are also not as fashion-conscious as they thought.
“Many are happy to shop for the latest fashion at end-of-season sales, and then sport the same for the next two or even three seasons, irrespective of what’s in fashion”, said Govind Shirkhande, managing director and customer care executive at Shoppers Stop
However, some of this behaviour might be due to high inflation and interest rates. In fact, this behaviour could continue for a while, since the Indian economy is expected to grow by less than 5% in the year to 31 March. Consequently, people are ready to wait for discounts and sales are becoming more regular.
“There is no expiry date on what they wear”, said Vinay Nadkarni chief executive and managing director at fashion chain Globus Stores. It is believed that consumers will happily buy two-three season old clothing at sales.
However, this not believed to be the case for younger consumers, who are not ready to settle for older seasons. “The younger consumer is price conscious, but [they] will not settle for two season-old clothing at a discounted price,” said Arun Chander Mohan, co-founder and managing director at Janong.com