For e-commerce fashion brands, OTT investments are a stitch in time, today
India’s fashion market is estimated to be at $70 billion and e-commerce has evolved into a key channel for it, projected to reach $14 billion* by the end of this year. One indication of its uptake is the number of online fashion shoppers – 60 million in 2017 but expected to double by 2020-end.
The last few months have witnessed an accelerated trend of consumers shopping online, which is why e-commerce is emerging as fashion’s strongest retail channel. With the festive season right around the corner, it will only get bigger. This is indicative of the significant changes in consumer behavior toward online channels, which will last beyond the pandemic. No wonder brands are pivoting their businesses towards digital selling.
Indian fashion labels, for instance, have invested during the lockdown to attract customers and improve online shopping experiences. So successful has this strategy been that some have reported a manifold increase in sales compared to this time last year^.
Small towns speak of big actions
What’s significant is that smaller cities are adding to the growth, a result of growing media exposure, awareness, aspirations and disposable incomes. Tier 2 and 3 cities are actively looking for access to fashion brands, even global ones. The availability of products, promotions, logistical ease, etc, has only underscored the trend.
Tier 3 markets, for instance, have witnessed a 53% year-on-year growth in e-commerce with fashion and apparel being the primary drivers, according to Business Insider^^.
Netizens can’t stop talking about online fashion
Star Distillery data showed a 97% rise in social media conversations around e-fashion, where consumers increasingly discussed online fashion purchases, as the lockdown was retracted in phases. AJIO, with its #mystylishsibling contest on Raksha Bandhan, saw a whopping 256% rise in social conversations.
Brands engaged consumers with price-led innovations
Consumers were far more conscious about spending during the pandemic, which is why fashion brands offered higher-than-usual discounts. Consequently, price became the most talked-about feature.
Myntra was among the most talked-about brands owing to its annual End of Reason Sale – its strong campaign on Disney+ Hotstar playing a role in the 250% rise in social conversations around it.
Creating a buzz with Disney+ Hotstar
Brands are exploring new ways to engage with customers – whether on social media or platforms like OTT. Having said that, they still need to tap the potential in this space fully. Marketers understand that building strong relationships with online audiences will give them the advantage once the pandemic ends. A lot of these brands have been tasting success, thanks to Disney+ Hotstar’s established, innovative ways to reach their OTT audiences.
For the 12th edition of its End of Reason Sale, Myntra partnered with Disney+ Hotstar to connect with its shopper base and drive purchase intent. The results speak for themselves: Myntra’s campaign received over 100 million impressions and a 14% rise in purchase intent, among other key milestones.
Read the Myntra Success Case here.
Melorra, a fashion jewellery player, saw results similar to Myntra’s for its Valentine’s Day campaign: Up Your Gifting Game. By deploying Disney+ Hotstar’s sharp targeting, suitable ad formats and a well-crafted message, it garnered a reach of over 1.3 million, generating interest from over 45,000 people in just eight days.
Read the Melorra Success Case here.
On the other hand, lifestyle brand Bewakoof partnered with Disney+ Hotstar to get closer to its young customers and reach new ones. By targeting the brand message to potential customers and connecting with existing ones through appography-based targeting, it achieved 1.3x RoI on spends, driving 1,500 app installs and a high average order value (>INR 500).
Read Bewakoof’s Success Case here.
As fashion brands step up the e-commerce game, few other platforms can deliver such results. The brands understand that they need to be where their customers are. OTT platforms such as Disney+ Hotstar are a must-have in the media toolkit because they deliver a highly engaged audience, customizable solutions, targeting options and non-skippable video ads.
