Exclusive: Radhika Aggarwal, Co-founder, ShopClues says the Focus is now on Fashion
Tanya DubeyJun 19, 2017, 11.47 AM
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ShopClues is a dark horse in the e-commerce sector which 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. The focus for the company is on value & mid-price segments which today comprise 75% of the online fashion market.
Radhika Aggarwal, Co-Founder & Chief Business Officer, ShopClues.com told Business Insider, "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. 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."
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. According to the company, 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 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 4 million 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.