Up to 70 Percent of Fashion Accessory Purchases Will be Mobile Driven by 2022: Report
According to the findings of the report, friction accounts for 19 per cent of consumer dropouts, in the apparel category.
Representative Image. (Photo: A model presents creations from the Calvin Klein Autumn/Winter 2017 collection during New York Fashion Week in the Manhattan borough of New York, U.S., February 10, 2017/ Reuters)
Nearly half of those mobile-influenced purchases will be driven by Facebook, amounting to a $110 billion sales opportunity, said the latest "Zero Friction Future" report. Additionally, mobile will influence two in three apparel purchases, amounting to $66 billion opportunity for brands, half of which will be driven by Facebook, the findings showed.
Friction occurs when consumers dropout during purchase due to an unnecessary additional effort, incremental step or inconvenience.
According to the findings of the report, friction accounts for 19 per cent of consumer dropouts, in the apparel category, and in the accessories category, friction accounts for 22 per cent of consumer dropouts.
"Fashion spectrum in India has evolved so considerably, that the apparel and accessory market is projected to reach $102 billion and $155 billion individually, by the year 2022," said Pulkit Trivedi, Director, Facebook India. "Today, mobile has become central to the way brands market and sell their products and engage with customers end-to-end. With our Zero Friction Future report, we aim to help fashion brands adopt relevant marketing strategies and reduce friction in consumer journeys across multiple touch-points, leading to improved conversion rates and increased revenue opportunity," Trivedi added.
According to the research, top friction areas for different demographic cohorts vary and hence marketers need to customise their marketing strategy accordingly.
For example, men and women display different drivers for entering the purchase funnel, the report said.
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