Pakistan’s Fashion Industry – A Winner on the E-Commerce Forefront
E-commerce in Pakistan has evolved a great deal from its humble beginnings to a thriving market that is increasingly thronged by entrepreneurs of diverse businesses from across the globe facilitating buyers and sellers worldwide. One of the key factors contributing to the growth of E-commerce in Pakistanis the rise in internet penetration rates as well as the increase in mobile devices such as smartphones, tablets and laptops among the population.
Pakistan’s Fashion Industry
Fashion has become a very integral part of the operations of E-commerce businesses. It has helped to contribute a great deal to the revenues and profits of online businesses with a recorded 16.648 million fans on the E-commerce platform. This is according to an article published in the Daily Times which says that this figure can be attributed to the rise in the popularity of ramps,fashion shows and other types of fashion events in Pakistan. Fashion designers,both male and female, have mushroomed with the recent collection of the most innovative clothing,footwear and accessories’ designs in the fashion and apparel industry. Amidst the lawn frenzy and designers swooping the fashion arena with their latest lawn collection,it is not long before, these fashion trend-setters will have set the stage for the biggest fashion revolution in the country,in most part led by E-commerce ventures and online businesses.
Key Findings of Research on E-commerce Trends
According to the E-commerce report, clothing is a leading product category on the Pakistani E-commerce landscape. One of the observations of the report is that in the 3-year period spanning 2013-2015,T-shirts,hoodies,shrugs,shirts etc. are the highest grossing clothing items for each of the four quarters every year.
As with other commercial ventures,E-commerce businesses also face a surge or escalation on the demand for fashion products during specific times of the year.These include religious festivals such as Eid-ul-Fitr and Eid-ul-Azha as well as special occasions such as Mother’s Day,Valentine’s Day etc. E-commerce players can capitalize in the opportunity to yield maximum turnover and profits.For example, on the occasion of both religious festivals,a rise in the demand for Shalwar Kameezand that of traditional footwear is observed.
This is also the case with the Cricket World Cup in Pakistan in 201 which led to rise in the demand for cricketing products and accessories such as t-shirts,bats, balls etc.
Another research-based finding by Euromonitor in April 2013 projects that the fashion industry in Pakistan is forecasted to grow by 15% from the year 2013 through the year 2017. Below is a screenshot of the stipulated growth in the stated period.