ShopClues, India’s first and largest online marketplace, today announced their focus on building Fashion as a fast-growing category. The Unicorn has targeted the online fashion business in a distinct segment with a differentiated approach. ShopClues is focused on value & mid-price segments which today comprises 75% of the online fashion market.
Radhika Aggarwal, Co-Founder & Chief Business Officer, ShopClues.com shared, “Currently, India’s apparel and lifestyle market is a $92 bn industry. However, according to recent reports, only 2% of that is currently online. This is the fastest growing category and reaches 24% of online consumers in India. ShopClues is today the preferred online destination for the real India or ‘Bharat’ with a reach in over 30000 pin-codes. Today’s fashion consumer is seeking a variety that helps them be trendy every day, and ShopClues offers precisely that at pocket-friendly prices. We have exponentially scaled up our offerings in this category including clothing, jewelry, fashion accessories and footwear, so that our consumers can look good every day! ”
Presently, the Lifestyle category contributes to 50% of ShopClues’ total orders – between men’s clothing, women’s clothing, footwear and accessories. The fashion GMV has doubled in FY 2016-17 over FY 2015-16. Growth has been attained, even while improving the bottom-line, in an industry where the common practice is to erode profitability to drive GMV growth.
With over 5 Lakh merchants already under its banner, ShopClues has had rare success in enabling small and medium-sized merchants in building their own brands. With various services offered to merchants ranging from digitization to advertising and brand building, ShopClues works with over 2 lakh merchants in the Fashion Category alone & has an assortment of about 4mn products including craft-based products, regional products as well as branded products. 80% of the merchants are SMEs & the remaining 20% are regional brands, mid-tier & national brands.
The new Fashion Avatar of ShopClues will now provide the largest variety of trendy yet eminently affordable & high quality products for men, women & kids, making it the preferred e-commerce destination for Bharat.