By Dominick Rodrigues
E-Commerce is expected to be the future for the Indian Economy, even as the online textile industry has registered an increasing trend in sales that is expected to continue – while having no dependency on the offline industry like wholesaler, semi-wholesaler, retailers, middle persons etc, according to Anuj Mundra, CMD, Nandani Creation Limited.
While competition in the online business in India is furious, the market remains unorganized with numerous nearby and unfamiliar organizations attempting to hold the most extreme portion of the overall industry, he said.
Even as economic digitization and cheap internet helped development of digital sales in the country’s in the e-commerce based business industry, E-commerce retailers emerged winners through successive festival periods — after initial doubts of the pandemic lockdown affecting them — he said, adding that the lockdown witnessed the online textile industry seeing a boom in sales – thus highlighting cloth/daily wear apparels being one of the basic needs and requirements after food.
Noting that the online textile industry provided all the right reasons to create new “Unicorns” in India, he said “Right from choosing items to trying them, even the return policies created a win-win situation for shoppers on the internet as customers felt very comfortable purchasing stuff online.”
He said the reasons for the industry’s success included; product categories and related offers like the emergence of a new segment “Ethnic Lounge Wear/comfortable wear” enabling people to work from home during the pandemic lockdown; Indian Organizations adapting their supply chain to ensure adequate supplies for meeting demand through a “buffer” stock of essential items;, besides drop-shipping, contactless approach being explored for seamless delivery of the items.
While customers benefited through no hassles of shopping – despite the mobility and supply chain witnessing irregularities – E-commerce emerged as an ideal solution by providing delivery services without compromising social distancing practice, he said, adding that e-commerce/virtual shopping ensured continuity in the country’s economic operations.
