THE FUTURE
CLIENT
FASHION TREND FORECASTING
BATCH OF 2019, POLIMODA
NIKITA BHALLA
CONTENTS
INTRODUCTION
ANALYSIS
POLITICAL
ECONOMY
SOCIETY
CULTURE
TECHNOLOGY
CONSUMER BEHAVIOUR
FUTURE SCENARIO
FUTURE CLIENT
CLIENT X BRAND
NIKITA BHALLA.MFTM 2019
INTRODUCTION
India is increasingly a focal point for the fashion industry, reflecting a
rapidly growing middle-class and increasingly powerful manufacturing
sector. These, together with strong economic fundamentals and growing
tech-savvy, make India too important for international brands to ignore.
India, country that occupies the greater part of South Asia. It is
a constitutional republic consisting of 29 states, each with a substantial
degree of control over its own affairs; 6 less fully empowered union territories;
and the Delhi national capital territory, which includes New Delhi, India’s
capital. With roughly one-sixth of the world’s total population, India is the
second most-populous country, after China. In spite of some severe socio-
economic challenges, India has proved its ability to break through global
economy during the past decade. With a constantly rising growth rate, several
of the strongest industry and agriculture markets worldwide and important
exports and import, the nation is now considered as one of the fastest-
growing economy in the world and could become the world’s first power by
2050.
NIKITA BHALLA.MFTM 2019
POLITICS
According to Pradeep K. Chhibber and Rahul Verma in their book,
Ideology and Identity: "The Changing Party Systems of India, in such a
society: The state is subservient to society, especially where social norms
and economic transformation are concerned… the ruler has a limited role.
He is the guardian and preserver of a social order. It is not the role of the
king to transform society. Social change can come only from the religious
transformation of individuals….[nonetheless] the king has the authority to
levy taxes, provide for the poor and needy, and build infrastructure, but
not redistribute property…[the] role of the king has mainly been that of an
administrator who must maintain political order while preserving the
social order."
When India became independent in 1947, few people expected the country
to survive. Nevertheless, Indians introduced universal adult suffrage soon
after obtaining independence and adopted a republican constitution in
1950, a full 15 years before economic superpowers such as the US lifted
literacy and tax qualifications for voting. Throughout the 1950s and 1960s
international observers remained sceptical of India surviving as a
democracy, given its huge levels of poverty and illiteracy. Yet, India not only
survived but also emerged – warts and all – as one of the world’s most
thriving democracies. The country presents a very moving story of the ways
in which some of the poorest people on the planet have sought to construct
and sustain democracy against enormous odds. Their achievements are
under threat today.
India poignantly illustrates the global challenges posed to democracy by the
rise of nationalism and populism. Identity politics, or a politics that focuses
on people’s particular social identities, permeates political narratives in
India as elsewhere in the world in 2019. Indians are faced with an idea of
nationalism that seeks to exclude significant sections of their own
population from its ambit. How Indians respond to the challenges of
exclusionary nationalism, right-wing populism and supremacist identity
politics in the 2019 elections holds key lessons for the world as it confronts
the global backsliding of democracy. After all, elections provide a window
onto the hopes harboured by citizens, the anxieties they confront and the
possibilities they imagine. The narratives that emerge prior to, during, and
immediately after any elections offer unique insights into ongoing processes
of social change.
NIKITA BHALLA.MFTM 2019
ECONOMY
INDIA POWERS AHEAD OF OTHER MAJOR EMERGING MARKETS
Economic expansion is happening across Asia, Today, India is considered as
the world’s sixth-largest economy by nominal GDP and the third-largest by
purchasing power parity. According to several studies, India’s growth rate
should stabilise at 8% during the next decades, ranking the country as the
world’s fastest-growing economy. Its GDP could overtake that of the US
before 2050, turning India into the strongest economy worldwide. The
country is being propelled by strong macroeconomic tailwinds and is
predicted to grow 8 percent a year between 2018 and 2022. The Indian
middle class is forecast to expand at 19.4 percent a year over the same
period, outpacing China, Mexico and Brazil. As a result, India is set to move
from being an increasingly important sourcing hub to being one of the most
attractive consumer markets outside the Western world. Some of the major
sectors which are contributing to the Indian Economy are agriculture,
chemicals, IT, retail and others.
India’s key growth factors are:
A young and rapidly growing working-age population,
Rising education and engineering skill levels, accentuating growth in the
manufacturing sector,
A rapidly growing middle-class, implementing a sustained growth of the
consumer market.
India’s economy is distributed as followed:
Agriculture: 17,4% of GDP, 49% of employment;
Industry: 25,8% of GDP, 20% of employment;
Services: 56,9% of GDP, 31% of employment.
NIKITA BHALLA.MFTM 2019
Agriculture
Once India’s main source of revenue and income, has since fallen to only
17% of the country’s GDP as of 2017. However, analysts are quick to note that
this fall should not be equated with a decrease in production but rather a
relative fall when compared with the large increases in India’s industrial and
service outputs. Agriculture in India has some problems. First, the industry is
not efficient: millions of small farmers rely on monsoons for the water
necessary for their crop production. Agricultural infrastructure is not well
developed, so irrigation is sparse and agricultural product is at risk of
spoilage because of a lack of adequate storage facilities and distribution
channels.
Chemicals are big business in India
The chemical sector contributes about 2.11% to the Indian GDP in 2016. The
petrochemical industry contributes approximately 30% to India's chemical
industry which is expected to become a $250 billion industry by 2020. In
addition to chemicals, India produces a large supply of the world’s
pharmaceuticals as well as billions of dollars worth of cars, motorcycles,
tools, tractors, machinery and forged steel.
IT and Business Services Outsourcing
Over the past 60 years, the service industry in India has increased from a
fraction of the GDP to over 55% in 2018. India, with its high population of
low-cost, skilled, English-speaking, educated people, is a great place for
doing business. IT companies contributed almost 8% of the country’s GDP in
2016, and the workers are employed by both domestic and international
companies including Intel(INTC), Texas Instruments (TXN), Yahoo (YHOO),
Facebook (FB), Google (GOOG), and Microsoft (MSFT). However, Bangalore,
called the Silicon Valley of India, is a prime example of the problems that
India faces with its international business service sector. Companies and
local administration clash over government policy with the companies
wanting better infrastructure and the governments wanting to serve their
electorate. Additionally, employees at companies that provide outsourcing
services throughout India struggle to adopt more western mannerisms and
language to appear more like their parent companies, a practice that is
considered detrimental to the traditional Indian identity.
Retail Services
The retail sector is huge. In fact, it is the second largest in the world with
retail sales expected to exceed $1.2 trillion by 2018, according to a study by
ASSOCHAM-Resurgent India. But its not just apparel, electronics or
traditional consumer retail that is booming; agricultural retail, which is
important in an inflation-conscious country like India, is also significant.
Retail reform is happening. India is relaxing some barriers to foreign entry
and hoping to spur an increase in the number of foreign retailers in the
country. However, there is opposition and debate about whether or not to
let large foreign companies like Wal-Mart (WMT) to open stores in India. The
arguments against Wal-Mart are similar to those in the United States while
the arguments for Wal-Mart center on the money and infrastructure support
that the company would bring.
NIKITA BHALLA.MFTM 2019
SOCIETY
India offers astounding variety in virtually every aspect of social life.
Diversity of ethnic, linguistic, regional, economic, religious, class, and
caste groups crosscut Indian society, which is also permeated with
immense urban-rural differences and gender distinctions. Differences
between different parts of India are particularly significant, especially in
systems of kinship and marriage. Indian society is multifaceted to an
extent perhaps unknown in any other of the world’s great civilizations—it
is more like an area as varied as Europe than any other single nation-
state. Adding further variety to contemporary Indian culture are rapidly
occurring changes affecting various regions and socioeconomic groups in
disparate ways. Yet, amid the complexities of Indian life, widely accepted
cultural themes enhance social harmony and order.
There are a number of factors which are responsible for continuity and
change in Indian society. Change may occur through adaptation or inte-
gration. Adaptation occurs when existing institutions readjust to meet new
needs. Integration occurs when a society adopts a new element and makes
it part of itself. Of the various factors which have enabled our society to
adapt/integrate or fail to adapt/integrate, the most important ones are:
political independence and introduction of democratic values, indus-
trialisation, urbanisation, increase in education, legislative measures, social
change in caste system, and social movements and social awareness (like
feminism, globalisation and anti-casteism).
The social and cultural resilience (or quality of quickly recovering the
original condition after being pressed or crushed), tolerant indifference
towards Brahmanical tradition, continual involvement in cultural and
agrarian movements, and a pugnacious utilitarianism provide this class
today with a major role in the country’s social and economic development.
This group today leads the powerful backward class movement. The new
entrepreneurs and professional classes in urban areas and the rich peasantry
in villages constitute a middle class in India is estimated to be around one-
fourth of its total population. There has been a progressive increase in the
percentage of service sector in gross domestic- product (GDP) of the
country, which indicates the extent of changes in the economic structure
and the composition of society. Colonialism had totally made the industrial
foundation of Indian society lean, and following independence, the country
today ranks about thirteenth in terms of industrial advancement. These
achievements have resulted from the planned development of society in
basic sectors of its life.
NIKITA BHALLA.MFTM 2019
Hierarchy
Societal hierarchy is evident in caste groups, amongst individuals, and in
family and kinship groups. Castes are primarily associated with Hinduism,
but caste-like groups also exist among Muslims, Indian, Christians, and other
religious communities. Within most villages or towns, everyone knows the
relative rankings of each locally represented caste, and behavior is
constantly shaped by this knowledge.
Social interdependence
One of the great themes pervading Indian life's social interdependence.
People are born into groups—families, clans, subcastes, castes, and religious
communities—and feel a deep sense of inseparability from these groups.
People are deeply involved with others, and for many, the greatest fear is the
possibility of being left alone, without social support. Psychologically, family
members typically experience intense emotional interdependence.
Economic activities, too, are deeply imbedded in a social nexus. Through a
multitude of kinship ties, each person is linked with kin in villages and
towns near and far. Almost everywhere a person goes, he can find a relative
from whom he can expect moral and practical support.
Increase in Education
In the modern age, Indian society has tried to expand its educational system
because it requires a more literate and numerate population. Though the
literacy percentage has increased from 36 in 1951 to about 60 in 1997, yet
there are about 330 million illiterate people to be made literate. The male
literacy rate has now reached to about 70 per cent and female rate to about
50 per cent (by end of 1997). Education has not only brought about changes
in the attitudes, beliefs, values and ideologies of the people but has also
created and aroused individualistic feelings. The increasing education not
only brings changes in the philosophy of life of men and women but also
provides new avenues of employment to the latter. After becoming
economically independent, women demand more voice in family affairs and
also refuse to accept anybody’s dominance over them. This shows how
education brings changes in relations in the family, ultimately leading to the
structural changes too. Those who deviate from the traditional family
occupation and take to new professions show a greater shift in their
attitudes than those who follow traditional occupations.
Urban Life
The acceleration of urbanization is profoundly affecting the transformation
of Indian society. Slightly more than one-quarter of the country’s population
is urban. Mumbai (Bombay) is currently the sixth largest urban area in the
world at 18 million, and Kolkata (Calcutta) ranks fourteenth at 13 million. In
recent years, India’s largest cities have grown at twice the rate of its small
towns and villages, with many of the increases due to rural-urban migration.
The largest cities are densely populated, congested, noisy, polluted, and
deficient in clean water, electricity, sanitation, and decent housing. Slums
abound, often cheek-by-jowl with luxury apartment buildings, with the
roads overrun with pedestrians, cattle, refuse, and vehicles spewing diesel
fumes.
NIKITA BHALLA.MFTM 2019
CULTURE
Indian cultural history has been derived by the absorbing customs,
traditions, and rituals from both invaders and immigrants. Many Indian
customs, cultural practices and languages are examples of this co-
mingling over centuries. It was the birthplace of many religious systems
like Hinduism, Buddhism, Sikhism which influenced not only this country
but also the neighboring countries. With the following invasion of the
Islamic rulers the culture of India was heavily influenced by Persian,
Arabic, Turkish cultures.
Language
India has 28 states and seven territories, according to the World Health
Organization. There is no official language in India, according to a Gujarat
High Court ruling in 2010, though Hindi is the official language of the
government. The Constitution of India officially recognizes 23 official
languages.
Architecture and art
The most well-known example of Indian architecture is the Taj Mahal, built
by Mughal emperor Shah Jahan to honor his third wife, Mumtaz Mahal. It
combines elements from Islamic, Persian, Ottoman Turkish and Indian
architectural styles. India also has many ancient temples.
Bollywood
Bollywood has for long exerted a deep influence on popular Indian fashion.
Any outfit adorned by an actor or actress in a hit movie immediately
becomes a prime sartorial trend for tailors to reproduce.The ready-made
industry manufactures these clothes in bulk and the designs are named
after the character or movie. The fashion industry capitalises on this trend by
launching their clothes and jewellery in movies.
NIKITA BHALLA.MFTM 2019
As the famous british director Roland Joffe said "Indian culture certainly
gives the Indian mind, including the mind of the Indian scientist, the
ability to think out of the box."
Louis Vuitton will curate a selection of bridal trunks at Vogue Wedding Show 2019
Weddings
In a country where up to 12 million weddings take place a year, the growing
middle classes are increasingly putting on lavish ceremonies to emphasize
their status. Industry sources estimate that the country's wedding industry is
worth $40 billion to $50 billion, representing significant growth from the
widely-cited $25.5 billion figure reported in 2012. Around half the gold
bought in the country each year is for items used at wedding
ceremonies.While weddings can be expensive affairs in any country, in India
they are especially important as symbols of strength and status, according
to sociologist Parul Bhandari, a visiting scholar at St. Edmund's College,
University of Cambridge, who researches wedding cultures, marriage trends,
gender and social class."Pushing one's financial limits at a wedding can, of
course, be seen as an attempt to achieve higher social status and respect
within the wider community.”
NIKITA BHALLA.MFTM 2019
ABOVE 40 18 TO 20 YEARS
11% 18%
31 TO 40 YEARS
31%
21 TO 30 YEARS
40%
Age profile of people eating out
Food
The dining out culture in India has changed drastically, and the changing
food habits of the Millennial generation has had a significant contribution
towards this trend. Millennials or the Generation Y (people between the ages
18 and 35) make up 65% of India’s population. They are the people who are
tech-savvy, are constantly exposed to the global trends and lifestyles, are
well read, have extensively traveled and have high spending power. And,
they are also the ones who are driving the growth index of the restaurant
industry. The trend of splitting bills, or ‘Going Dutch’ has also caught on,
where the people equally split the bill among themselves. Millennials’ food
habits are different from that of the Baby Boomers, and thus have a
significant impact on the restaurant business. Over the past few years, India
has witnessed a proliferation of fine dining restaurants, cafes, pubs, bars,
clubs, lounges, and international fast food joints, which have to come up to
cater to the Millennials’ changing food habits. Some key features of
changing food habits
Eating out, especially at premium places give people an opportunity to
flaunt their social quotient. There is an increased awareness about the
impact of the food industry on the environment, how they are sourced and
which foods are organic and which aren’t. Moreover, they are
environmentally conscious citizens and are not shy of advocating the cause
through their lifestyle. Traveling to broader destinations and access to global
trends have given them more significant exposure to other cultures and a
willingness to embrace them including their food. Additionally, people are
addicted to food channels on TV and food boards on Pinterest or websites,
and usually, want to consume what they see and crave.Overworked and
stressed out consumers consider dining out as a way to unwind themselves.
The high-paced lifestyle is a significant trigger behind the changing food
habits. Also, for most of them, restaurants are also the place where they
bond with family and connect with friends.
NIKITA BHALLA.MFTM 2019
TECHNOLOGY
Technology and globalisation will be one of the most important
influencers in India in the years to come. And the same truth extends to
fashion industry too. Millennials are the game-changers of fashion
industry and as youth becomes the key decision maker, a shift in the
fashion paradigm is inevitable.
For the fashion conscious population accessibility to stylish casualwear is
important. They enjoy making a style statement every day which is evident
from #ootd (Outfit of the day) posts on Instagram. The access to various
social media platforms and fashion blogs enables them to keep pace with
the latest trends. Frequent wardrobe update is the new normal and brands
must remain on point with latest trends and affordable pricing.
The growing reach of the internet, social media and e-commerce now allows
fashion players to reach consumers in smaller towns. The growth in e-
commerce is driven by access to cheap data, increasing comfort with online
shopping and brands offering best in class service on their web selling
platforms. According to experts, ten years ago, technology was for the few,
with just five million smartphones in a country of 1.2 billion people and only
45 million Internet users. These figures have since increased to 355 million
and 460 million, respectively, in 2018, and they are expected to double by
2021, when more than 900 million Indian consumers will be online.
Omnichannel and assisted e-commerce will contribute to the growth of
fashion brands. A quick purchase journey and check-out is essential for the
shopper with a reduced attention span and the desire for a minimal click
process. The plethora of new brands as well as established companies
offering casualwear via e-commerce must ensure a smooth online shopping
experience.
NIKITA BHALLA.MFTM 2019
Telecommunication
India’s telecommunication industry is the world’s fastest-growing and most
competitive, but also the second largest worldwide by number of telephone
and Internet users, respectively 1.2 billion and 321 million. The reason why
India’s telecommunication network is rising so fast is because its call tariffs
are the lowest in the world, enabled by mega telecom operators and hyper-
competition among them. Today, India has surpassed the US to become the
second largest smartphone market in the world after China, and its telecom
sector accounts now for 7% of the country’s GDP.
In order to keep a strong telecommunication industry, ongoing processes
are being launched to transform the network into the next generation
network, such as digital telephone exchanges and mobile switching centres,
replacing them with a wide variety of transmission systems using fibre-
optics, wireless technologies or else microwave radio relay networks.
Information and Technology
Today, the Indian IT industry consists in two major components, which are IT
services and business process outsourcing. It accounts for 8% the country’s
GDP and contributes to 25% of its merchandise exports, bringing India to
rank as the world’s second largest IT exporter in spite of China’s and
Philippines’ strong competitiveness.
The country’s second and third largest software companies are
headquartered in Bangalore, which is considered as the « Indian Silicon
Valley ». The IT sector has also led to massive employment generation in
India, with 2.8 million professionals working in this field directly, and 9
million indirectly. India’s IT sector has been a major ground for the country’s
economic growth these past few decades.
NIKITA BHALLA.MFTM 2019
CONSUMER BEHAVIOUR
“Customer is King” couldn’t be more relevant than it is today. Consumer
centricity has led to innumerable loyalty programs launched by retailers
in India. Personalization and customer service is crucial to a brand’s
popularity as consumers prioritize shopping experiences and satisfaction.
Consumption decisions made in the market cannot be viewed as an
independent event – these are closely related with values and social
relationship and cultural allegiance. With globalization, culture becomes
predominantly important strategic issue in market that has to be faced and
properly managed. Core values of any country shape its national culture. The
consumer buying behaviour in urban and rural India varies significantly.
Functional, emotional and affordability factors translate to the choice of the
consumer.
Indian consumers are more willing to pay more for quality fashion apparel
and accessories. This is because the right apparel and accessories enhance
the wearer’s personality. Already many accessories sold online command a
loyal following and an even larger number of people aspire to own such
accessories and apparel. When, as anticipated, a consumer-friendly budget
is introduced this month it will lead to increased demand for finely crafted
luxury accessories and apparel sold online. International brands are paying
careful attention to the needs of the Indian consumer. It is crucial for brands
to understand the Indian market and the cultural identity of its consumers.
The shift from conspicuous consumption to more value-driven purchases is
extremely evident in today’s aspirational buyers of high-end brands. As the
global brands enter, consumers expect more from store design, visual
merchandising, product pricing, product designing, marketing, etc.
NIKITA BHALLA.MFTM 2019
FUTURE SCENARIO
FUTURE SCENARIO OF SOCIETY AND ITS IMAPACTS & CONSEQUENCES IN FASHION
Future of India is driven by the belief that India can build shared prosperity
for its 1.25 billion citizens by transforming the way the economy creates
value. Corporate India has a critical role to play in this story, not only by
creating value by addressing key societal needs, but in supporting a vibrant
entrepreneurial sector. By analysing the core elements of India i.e - politics,
economy, society, culture , technology and fashion we can see an emerging
society in future which will be transformed evidently. The future of Indian
society will be an amalgamation of tradiiton with western sensibilities.
NIKITA BHALLA.MFTM 2019
The vision for the future of consumption in India is anchored in the growth
of the upper-middle income and highincome segments, which will grow
from being one in four households today, to one in two households by
2030. At the same time, India will also lift nearly 25 million households out
of poverty, to reduce the share of households below the poverty line to 5%,
down from 15% today. Thus, India represents a relatively broad-based
pattern of growth and benefit sharing, in contrast to the global scenario
of increasing inequality wherein the richest 10% of the population is
capturing an increasing share of national incomes and, consequently,
wealth.
India is one of the fastest-growing economies in the world. By 2030, it is on
course to witness a 4x growth in consumer spend. It will remain one of the
youngest nations on the planet and will be home to more than one billion
internet users. The new Indian consumer will be richer and more willing to
spend, and unlike her predecessors, she will have very specific preferences.
The following trends envision the India of the future.
RISE OF MIDDLE CLASS VALUE FOR MONEY
DIGITAL MANIA INFLUENCER INFLUENZA
JOMO
AGE AGNOSTIC
NIKITA BHALLA.MFTM 2019
Rise of Middle Class
By 2030, India will move from being an economy led by the bottom of the
pyramid, to one led by the middle class. Nearly 80% of households in 2030
will be middle-income, up from about 50% today. The middle class will drive
75% of consumer spending in 2030. An India with a sizeable middle- and
high-income consumer population will have three key implications:
Specific categories will drive significant growth in spending
Affordable, mid-priced products and services will drive aggregate growth
Premiumization and new category adoption primarily led by upper
middle and high-income consumers
Value for Money
Indian consumers will be willing to adopt value-for-money brands that have
"just right" features and prices. India’s new consumers have aspirations to
consume more (and the necessary income to fulfil this desire), but they are
dispersed across tens of thousands of urban and rural towns. Asset-light e-
commerce models, supported by offline partnerships and demand-
aggregators, will help brands test out and reach these new markets in a
cost-efficient manner. Businesses will also have an opportunity to unlock
spend on new category extensions.
For instance, dining out will become a significant area of food and beverage
spend (up from more than 10% today), driven by the increasing use of app-
based meal deliveries to replace home-cooked meals, especially by upper-
middle-income and high-income working consumers. One in four of these
consumers has already begun to increase their spend on entertainment to
subscribe to digital video-streaming services. Affordable and innovative
options can unlock massive incremental spend and establish new variants of
consumption in many existing categories.
NIKITA BHALLA.MFTM 2019
Digital Mania
Indian millennials are among the most stressed about online usage; an
increasing number of consumers are looking for JOMO retreats. The Oberoi
hotel chain in India is offering the opportunity to consumers to completely
disconnect, offering so-called Digital Detox packages. Packages range in
price, according to the location and customer budget. And in Bangalore, the
Oberoi offers overnight stays to locals willing to completely disconnect from
everything for 24 hours, without the stress of planning and long travelling.
Influencer Influenza
When it comes to social media influencers, it is quality and not quantity that
increasingly matters. Influencers are social media users who have the power
to affect purchase decisions of others because of their authority, knowledge,
position or relationship with their audience, according to a Denmark-based
marketing platform, Influencer Marketing Hub. From cooking recipes to
make up tips, they use platforms like Instagram and YouTube to share
engaging content.
While influencers are becoming an indispensable part of a brand’s
marketing metrics, those with organic and smaller sets of followers are the
ones that attract attention, says a survey report by the New Delhi-based
influencer marketing platform Zefmo Media. Up to 65% of the marketers or
strategists surveyed said authenticity is more important than the number of
followers, the report says. Brands need to constantly identify credible micro
influencers who fit their criteria and develop a deeper relationship with
them as opposed to selecting just one mega influencer.
NIKITA BHALLA.MFTM 2019
Age agnostic
The boundaries of old age are shifting as people live longer and take better
care of their health, appearance and wellbeing. Age Agnostics no longer
have a passive attitude towards ageing, and this is especially true in
wealthier developed countries with decent healthcare systems and social
conditions. Baby boomers (born between 1946 and 1964) are the generation
with the most disregard for age. They do not think of themselves as old, and
they most definitely do not want to be referred to in those terms. For
example, more affluent baby boomers have been shown to be just as
obsessed with technology, including tracking the latest apps and smart
devices, as millennials. Moreover, the oldest baby boomers—often referred to
as the ‘forever young’ generation—are now going into their 70s and are
redefining ageing. These are a new kind of mature consumers—a diverse
group who enjoy the same things as their younger counterparts and want to
continue to be themselves for as long as possible. This means they want
products and services that help them stay as youthful as possible in mind
and body, not trying to change things—just look and be the best they can.
JOMO
Why and how people are Finding their JOMO. Over-reliance on the internet
is a becoming a source of stress globally, more so in emerging markets than
in developed. Here the stress is likely due to the internet being largely used
to perform essential tasks and to access indispensable services, in a context
where broadband connection is not widely available and where a high share
of consumers remains internet-illiterate.
Boundaries between work and life are blurred and so are those separating
the private sphere and the social. Social networks give the illusion that we
all should be doing something exciting and saying (or posting) something
for others to acknowledge. The fear of missing out, of being left out, has
given place to the re-appropriation of self-time. To protect their mental
wellbeing, consumers want to be more intentional with their time, to set
their own boundaries and be more selective in their activities. Concerns over
personal data protection mean consumers are also more intentional in the
way they manage their privacy online.
NIKITA BHALLA.MFTM 2019
FUTURE CLIENT
As the fastest growing economy and a developing country, India’s future
holds a lot for it. The country will undergo a 360 shift. The future client of
India will be dual-faced. The consumer will be categorised mainly in two
categories. Firstly, the rich, privileged, over-spender who will want
themselves to loath in luxury and secondly, the emerging explorer, who
will be finding his path to fit in the society by any means. In terms of living
habits and social environment the consumer will look for affordability and
practicality along with joint ownership but in opposition to that a need for
the bigger the better will be seen. The consumer will enjoy indulging in
new experiences - food, lifestyle, travel which will be majorly influenced by
the blogger culture.the aesthetics will be two fold - traditional yet
contemporary. A fusion of culture and tradition along with western
sensibilities will be seen.
Product Personalisation
Personalisation is a key part of customer experience, with intelligent use of
data allowing marketers to create relevant and unique experiences that
hold attention for longer (and generate loyalty in the long-run).With the rise
of internet retail giants and instant gratification, the future consumer will
have on-demand access to custom products and services. Consumers will
expect to maintain a certain level of control over the products they
purchase. With a population which is going to increase with every passing
year and the consumer who will have the know-how of fashion, in such
situation the consumer would want to present himself as an exclusive
individual. Hence, resulting in demand of personalised product rather than
the mass produced. It will highlight the individuality of the consumer.
Personalized products are most sought-after for gifts too. Consumers will
want their gifts to be special for their loved ones and a personalized
product will indicate that they put time, money, and thought into the gift
purchase. The number of holidays that highlight gift-giving has increased
too. As rather than celebrating there own festivals, Indians tend to adopt
the western culture and will celebrate festivals like thanksgiving, halloween
etc.
Luxury Driven
luxury has slowly spread its wings to the hitherto sleepy tier I & tier II towns.
The fast emerging Indian market is not only witnessing demand for luxury
products from the Metros but also Tier I and Tier II cities which have a
sizable number of HNIs (High Net-worth Individuals). Alongside, an increase
in wealth for the middle class coupled with internet penetration has
resulted in newer segments of first-time luxury buyers. This has given ample
space for a whole lot of brands to set up shop in India, retail their brands
through distribution networks. Luxury brands and retailers will shift their
focus to the newly affluent Indian consumer who will be aspirational but
does not understand the products very well.In a country with a multitude of
cultures, languages, religions, festivals, colors and tastes, there needs to be
a localized marketing strategy.Brands will have to understand the
flamboyant Punjabi from North India and a reserved Bengali from Eastern
India. This surely will be the next growth driver for luxury in India.
NIKITA BHALLA.MFTM 2019
Digital Mania
India is a highly digitally inclined nation. Digital influence and online
purchase is projected to rise exponentially. It is estimated that by 2020,
approximately 350 million consumers are likely to digitally influence as
compared to 150 million now. This will account for $240 billion to $250
billion, which is between 20 percent and 25 percent of the total retail
spending. It is also estimated that by 2020, 200 to 250 million Indians will
shop online, as compared just 90 million currently.Interestingly, three
Indian companies have entered the Top 50 luxury brands of the world.
Rental Realism
What started as a trickle two years back, is now a stream with more
ventures offering specialised product categories arriving at the horizon.
Websites such as Confidential Couture offer usable luxury goods while
Ziniosa & Rent A Closet offer fashion on rent. And now, even the affluent
women are renting high end jewellery for their wedding. The fashion rental
market is becoming the biggest trend. A wedding suit or gown worth Rs.
one lakh could be rented for as low as Rs. 2000 to Rs. 2500! It is estimated
that the online wedding rental business is worth Rs. 100 crore and the
existing players have claimed a 25 to 50 per cent year-on-year surge in
business.
Pre-owned luxury is another fast-growing phenomena adding to servicing
the aspirations of small-town luxury seekers.There is money in the smaller
towns and markets, but there is no access to luxury brands. As Indians
acquire global tastes thanks to affordable foreign vacations, the influence
of Hollywood and Bollywood, and the Indian diaspora, they are looking to
own foreign luxury brands
Back to Roots
Respecting thee tradition and culture, the consumer will appreciate and
promote the indigeneous brands which will work with traditional textiles,
crafts and materials. The philosophy of "Made in India" will become
stronger. The consumer will want something which speaks indianess in
terms of aesthetics along with the blend of western sensibilties and the
current trend.
NIKITA BHALLA.MFTM 2019
CLIENT X BRAND
NOR BLACK NOR WHITE
‘I like NORBLACK NORWHITE more than the others because I see more
uniqueness and more originality in this label’s work. I liked how they’ve
treated colour. Sometimes when you’re so young it’s not easy to
understand tonalities. I love the fact that they have an exotic vibe.
Colours, embroideries, the partnership comes well together. Knowledge
and respect for their culture but in a modern way of course.'
– Frida Gianinni.
Brainchild of the brand - Mriga Kapadiya and Amrit Kumar
NORBLACK NORWHITE's philosophies develop from paying respect to the
past, questioning the present and creating for the future. Raised in Toronto,
Mriga Kapadiya and Amrit Kumar moved to India in 2009 to explore their
Indian roots. Traveling across the country they were exposed to the many
disappearing art forms and artisan communities. NBNW was born out of a
desire to re-interpret these ancient practices of textile design,
while bringing together their worlds by mashing up their love for Michael
Jackson, 90's R n B and all things old and gold.
Having been featured in Wallpaper*, Asos, Fader, Fashion Television, I-D
Magazine, Vogue India and Vogue Italy, they were also selected by Frida
Gianinni (Ex - Creative Director of Gucci) as her favourite young designers
from India for the Grazia Young Fashion Awards in 2012.
NIKITA BHALLA.MFTM 2019
"NorBlack NorWhite's philosophies develop from appreciating the past,
questioning the present and creating for the future" explains the
designers.
Backstage at Lakme Fashion Week in India
The inspiration came from Michael Jackson, the Cosby show and all things
old and gold, but also a true love for classic Indian textiles and for
colours. Every collection has a name that is not a season, but a mood. In the
last one presented, "Dip It Real Good", Bandhani magic from Kachchh
meets soft, dip-dyed cotton mul, while "North East Series", made from a
mashup of weaves from North Eastern India, features indigenous textiles
from Assam and Shillong. Inspired by adventures through misty tea
gardens, old Assamese homes and frenzied Durga Puja celebrations. The
key elements of the brand are as follows :
indigenous skills, stories and trades
deep connection to the on the humanity of its production
built on a foundation of tradition, combining new and old
nurtured by the age-old traditions of one family of textile-makers.
NIKITA BHALLA.MFTM 2019
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NIKITA BHALLA.MFTM 2019