Revenge buying, pop-up exhibitions helping designers clear stocks
Revenge shopping – spending aggressively after a period of limited opportunities to shop – was predicted last year after the trend was seen in the West, especially with luxury brands. However, designers here maintained that it was too early to say if it would be true for India, too. “It is good to note that revenge buying or shopping is happening, though it is tilted more towards international luxury brands as people are not travelling abroad like they used to. But there has been a rise in demand for designer wear also,” says designer Rina Dhaka. Designer Nikita Mhaisalkar adds, “People are finding reasons to celebrate. A lot of events that were cancelled or postponed are happening now and there is an increased demand for designer wear. Finally things are opening and people have reasons to shop and buy new clothes.” Though there is an increase in demand, designers say that they have to keep in mind that the consumer is price conscious (when it comes to ready-to-wear clothes) and has a lot of options to choose from. “Every designer would right now have a lot of stocks to clear, so while there is an increase in demand, there are far too many options to meet that demand. At this point, pop-up exhibitions are helping to get stocks out, but that is a very price-sensitive market,” shares Rina. Designer Shruti Sancheti adds, “Consumer today is not just price conscious, but are also looking for sustainable, season-fluid and versatile clothes, so there is a lot of demand for that.”
‘Thanks to weddings, bounce back in the business of couture has been great’
As restrictions on weddings have been lifted now, the last two months have already seen a surge in demand for couture. Says designer Shantanu Mehra, “Weddings are a huge market for couture and in the last two years what we missed were NRI and foreign buyers who would come to India to shop. But now the domestic demand is so high that we are really not feeling that pinch. There are a lot of destination weddings happening with many events and functions planned around those weddings, so demand for designer wear and couture outfits has been high and this has led to a swift bounce back of business this year.” “With COVID restrictions and travel bans being lifted, weddings are back with a bang. So, the demand for couture and designer wear has been high. Indian fashion thrives on wedding business. People are out and about, shopping, travelling. The scale of weddings is as big as it was pre-COVID and all this is giving a boost to business. In fact, weddings are helping fashion businesses sustain and survive,” adds designer Sonam Modi. Nikita adds, “Indian consumers only splurge on weddings. That’s their main event of life, when they want to spend lavishly, and for designers that’s a blessing. With no restrictions on weddings, there would be more demand and more work for us.”
This year will see the return of physical fashion shows in the country and designers say that it will boost business
‘Physical shows will help fashion to move forward’
During the pandemic, designers were presenting their collections online through digital films. After a gap of almost two years, fashion week in Delhi will return in a physical format this month. Designers say that their actual business come from physical events where they have an opportunity to network with buyers who can take a close look at the clothes. Says Shruti, “Digital shows were a great substitute for physical fashion weeks during pandemic and designers could reach out to buyers and express their creativity, however, fashion is more than this. Live shows offer the touch-and-feel factor, which is very important in designer outfits, and they are the actual representation of a designer’s vision. Displaying the clothes on the ramp and interaction with buyers will certainly help fashion to move forward.” Designer Charu Parashar adds, “It seems the worst is over for the fashion industry. People have that urge to spend on luxurious fashion again. The physical fashion show is relevant, and it is all about storytelling and immediate feedback, which you can never expect in online format. It definitely creates more on-spot buying.”
