The Future of Indian Fashion

Trend research, analysis & forecasting in the apparel sector
2011 and beyond – A study with a difference by Insight Instore

As the world slowly comes out of the recession, one country’s name is on everyone’s lips. Not only for the way it has survived the last two years but also for the remarkable potential it is demonstrating on the cusp of a new decade. India!!


In this exciting scenario, we at Insight Instore decided to research a sector which slowly but surely is making its presence felt both internationally and within the country - the Fashion industry in India. As a precursor to our study, we conducted a scan of the Fashion and Apparel Industry. There are three things which immediately struck us:


1. Indian fashion is seeing exponential growth driven by established and new designers

2. The emergence of India as a source of inspiration for Indian & International designers - surge in popularity of Indo-western garments

3. Greatly increased awareness of fashion; birth of new groups influenced by cultural, social and economic factors.


But interestingly, we find that what’s missing is pretty much the other side of the same coin.


We hypothesize that


1. The sector seems to lack an in-depth understanding of new domestic target-groups.


While fashion in India is rapidly moving beyond the ramp and to the road, it seems to be less by design. Western winds of fashion are reaching our metros faster than Hollywood releases and recession or no recession, fashion in the last year or two has become highly visible, at least on the streets of metros. And while we see a large smattering of influences, we believe these influences are deserving of greater understanding in addition to efforts to unearth newer influences.


2. There is a visible inability to predict fashion adaptations across a diverse map. We still see great dependence on adaptations of western trends


For example there is a definite addition of new categories like club wear, travel gear and lounge wear. However how far are we able to forecast and leverage this segmentation of the customers’ wardrobe? How well are we integrating our own diversity into the fabric of our predictions? We do not seem to have too many in-depth answers to these and other questions.


3. Business houses are still following old methods of trend analysis. We believe the need is for a cohesive design and business strategy that is borne out of a combination of trend, consumer & shopper research.


In a context where trends change rapidly with just the slightest shift in any one factor, are managers really able to look at the entire palette and go beyond mere textiles and colours? Where success is very quickly defined by the quality of information available and its interpretation, is there any definitive source that strategists can rely on??


We believe that in the new context, old traditional ways of static, demography based forecasting are becoming redundant. Mere observation is no more enough! Today, its more about the mood and lifestyle. Its more about dynamic and psychographic influences.


We also believe that today, the shopper has taken an important place next to the consumer. Shoppers studies offer great insight into how we buy instead of just why we buy. Insights into buying patterns that vary based on moods, beliefs & occasions! Insights that come out of robust frameworks, revealing trickle down trends, trickle up trends and trickle across trends, and their expected directions and durations!


In response to these hypotheses generated from our pre study scan, we are now launching an extensive study to explore the potential, complex fashion landscape in India. The study will offer insights into the fashion trends from 2011.


The unique thing about the study will lie in its approach. Unlike traditional trend forecasting which relies on conventional methods described briefly earlier, we will use here a combination of trend, consumer and shopper research in an attempt to unravel more difficult and more sustainable trends.

approach


The broad study outline is as follows:


A) The research will be both primary and secondary, covering

History - Evolution of Fashion in India, Drivers of change

Industry - Current scenario – Size, Projected figures, Nature i.e. Niche and Mass fashion

Trends - Fashion specific trends - based on the trickle down and trickle up theories; Sociocultural / economic trends that influence fashion

Target groups - Consumers and shoppers through behaviour studies


B) The Analysis will include

Gap analysis – Using insights from market, trend, consumer and shopper research to spot the current market gaps

Future scenario creation - This involves using insights derived out of research to define segments and sketch out possible future scenarios


C) Strategy

The scenarios created will be used to draw out indicative roadmaps for each segment, with the intent of allowing brands to develop strategies from there on.


D) Forecasting - Style, Colour, Textile

The objective of this part of the study is to serve as a platform for designers and brands to quickly develop new ideas of color/fabric/theme/mood and yarn developments for different product types and levels. The forecasting will include fabric, colour and styling trends which when combined with effective marketing strategies dictates the success of designs.


The primary objective of the study will be to offer brands and retailers, game-changing insight into to the fashion industry through a unique combination of


• In-depth information on the Indian fashion industry

• Trends and forecasts through an approach using traditional research methodologies as well as consumer and shopper research

• Roadmaps towards creating or revising business and communication strategies.


The study is being conducted by an expert team of trend researchers, students from leading fashion schools including the National Institute of Fashion Technology and designers. We are also seeing good support from brands for this study, intended to be a landmark one for the sector in India.


For more details, please write to me at sheetal@insightinstore.com



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