The top 24 cities (Metros, Mini-Metros and Tier-1) account for 60-70 per cent of sales for most of the major fashion retailers and brands. Going forward, the growth will be led by Tier-2, Tier-3 and maybe Tier-4 cities and towns. This is evident from the faster growth of some of the value brands in fashion, which have stronger presence in Tier-2 and Tier-3 cities already. However, the nuances of consumers and retail market are different in Tier-2 and Tier-3 cities. The consumers are aspirational and their approach to fashion is also different. Consumers in these cities are more loyal to styles, designs and trends than they are to brands. The retail market in Tier-2 and Tier-3 cities is led by high street and not very much by Malls. The consumer trends are also more mobile-led with platforms like Whatsapp, Tik Tok, Facebook being favourites. Besides, vernacular media plays a very important role in these markets. All these aspects are to be understood very well by brands and retailers to grow in Tier-2 and Tier-3 cities and beyond.
Our list of panellists for this session will include those from successful fashion brands in these cities and they will share their success stories for better understanding and attaining success in Tier-2 and Tier-3 cities in India.