Apparel Sourcing Week, 20 - 22 February 2020 - Bengaluru, India
18 - 20 February 2021
Bengaluru, India

Press Release 7 October 2019

The rise of online buying changing the dynamics of retail business

The continuously booming e-commerce industry has changed the landscape of retailing both for the consumers and the businessmen alike. Significantly, the global retail market for bricks-and-mortar stores has seen one of the worst slumps this year since the 2008 depression with over 6,000 store closures so far. Brands that set benchmarks in retail in the past are now closing down stores for a shot at mastering the online business. E-commerce offers them the unique opportunity to store and sell huge quantities of inventories owing to the boundlessness of online stores.
With consumers increasingly shifting preference to online platforms for everyday needs ranging from apparels to electronics, the retail industry has to adapt to this new format to remain viable. Major players in the global market have been roping in sellers and customers alike on this appealing platform, offering unfaltering success in terms of both the inventory availability and widespread access to the second largest consumer base in the world.
In line with international trends, the Indian e-commerce market has also seen tremendous growth and is expected to reach a whopping US $ 200 billion by 2026 from US $ 38.5 billion in 2017, according to India Brand Equity Foundation. The ongoing digital transformation of the country has increased internet access and smartphone penetration, enabling rising awareness about the ease of online retail.
This fast-paced digital growth has made India one of the most sought after countries to invest in with its internet economy expected to double from US $ 125 billion, as on April 2017 to US $ 250 billion by 2020, majorly backed by e-commerce. The country’s revenue from this industry is expected to jump from US $ 39 billion in 2017 to US $ 120 billion in 2020, growing at an annual rate of 51 per cent, the highest in the world. This has resulted in the likes of Walmart and Amazon increasing their footing in the retail market with Walmart’s majority stake in Flipkart and Amazon investing in practically whichever retail business it finds viable.
Despite the slowdown throughout the world economy, this industry is standing firmly on its ground and is unlikely to experience an ebb in its rapid growth. Therefore, it is imperative for one to consider the perks of harnessing the potential of such a lucrative arena. Be it B2B commerce platform like Udaan or industry giants like Amazon, players are still not satiated with their reach and profits, opening doors to the manufacturing and supply industry to work alongside for deeper penetration.
Scaling new territories and new markets is much easier and cost-effective when a business goes digital. Strategic use of digital tools can improve back-end efficiency as well as the ordering process, be it a B2B endeavour or B2C transaction. There is a lot to learn about these opportunities and ASW 2020 is the right place to gain greater understanding about the prolific options that this booming business domain presents.
Yes, reveling in the success of last year, with raving responses from both retailers and brands, Apparel Sourcing Week is all set to come back in February 2020 with a plethora of platforms for networking to propel your business in the right direction.
It is a platform for the retail and manufacturing fraternity to exclusively meet and interact with not only the market leaders in India like Amazon, Inc., and Walmart-led Flipkart, but also to avail the opportunity to meet international giants like Alibaba’s Tmall and JD.com.
ASW, a one-of-its-kind sourcing show, is a mecca to watch and learn from the best in the industry with curated discussions and seminars which will explore a variety of topics ranging from bricks-and-mortar retail to e-commerce. Not to deny the much-needed chance that it extends to get connected with the big names in the international retail sphere, vying to invest in this economy.
 

About Apparel Sourcing Week 2020

Apparel Sourcing Week 2020, a three-day Sourcing Show not only provides the Asian manufacturers a platform to showcase their products & manufacturing capabilities to the Brands & Retailers from all over the world including India, but also extends them a chance to attend the multiple seminars (headed by industry experts), workshops, open-house discussions and networking opportunities organised during these three days, which would help the manufacturers get a better understanding of Indian and International Retail and evolving dynamics of sourcing in various markets and retail formats.

About the Organiser

Apparel Resources is well known for its benchmark publications – Apparel Online, StitchWorld and Resource Guide published from India, Bangladesh & Vietnam. These publications have been around in the industry for over 35 years, supporting, guiding and standing by garment exporters and the retail industry globally, providing them a platform to source better.