Structural shifts in consumer wants and preferences, along with demand for superior customer value proposition, will drive India’s $130-billion lifestyle market, according to a report released by and Bain & Company. Fashion accounts for nearly three-quarters of the e-lifestyle market, other segments such as are also expected to grow significantly, with a growing shift towards organised segments. This market has seen a rise in Gen Z shoppers, with one-third of shoppers from this category seeking differentiated products and having a preference for immersive shopping experiences.
They account for a whooping 25% share of GMV for e-lifestyle segment. This section also focuses on purpose-led brands targeting clear customer niches. “These brands have tapped the Gen Z demand by offering trendy and value assortment, investing in an immersive shopping experience, and doubling down on social media and influencer marketing,” Amanpreet Talwar, Associate Partner at Bain & Company, told The online push in the lifestyle market has led to the creation of with customers expecting large assortments and faster refresh in styles, as much as more than 500 styles per week.
Moreover, two out of three shoppers are from cities beyond the top 50 while 50% of shoppers belong to the low/low-mid income segment. India has kept up with the growing trend of affluence and premiumisation, and the country has matured as a fashion-sourcing destination for brands. For instance, nearly 60% of the assortment .