1.1 Purpose of the study
The sheer idea of doing my project on “To understand the consumer buying behaviour and preferences in apparel sector in Delhi/NCR” is to gain an insight on understanding consumer expectations and primary benefits that consumer associates with branded and unbranded apparel .The main purpose of this primary research is to help in determining the purchase behaviour connected with apparels and to know the perception of consumers to newest types of promotional trends.
The Indian Apparel Industry has an overwhelming presence in the economy of the country. It is one of the oldest industries to come into existence in the country. The industry has a unique position as a self-reliant one, from the production of raw materials to the delivery of end goods, with considerable value-addition at every stage of processing. Apart from providing one of the basic necessities of life, the apparel industry also plays a pivotal role through its contribution to the industrial output, employment generation and the export revenue of the country.
The Indian apparel industry has grown over the years due to factors like rise in income levels, liberal trade policies adopted by the government, and flexible investment policies on the apparel industry. Today large number of the international brands have found their way in the best malls of the country. Brands like Burberry Armani and Diesel that were unheard of in India till a few years back are now found in almost all Indian cities.
According to the report of the Indian Textile Summit, 2012, the apparel industry in India is valued at $40 billion. The apparel market is categorized into branded and unbranded. The branded apparel market is worth $10 billion which is only a quarter of the total value of the industry. Per capita spending on apparel in India which is around $33 is relatively still very low as compared to developed nations like UK and US having per capita consumption of $1015 and $988 respectively. But the recent trends observed in the Indian market such as increasing income levels, increasing urbanization, increasing preference for readymade garments due to the convenience with which they can be bought and their attractive designs have opened growth prospects for the Indian Apparel Industry. It is projected to grow at a 13% CAGR. The Top most Apparel Brands in India includes Madura Garments, Arvind Mills, Provogue, Raymonds and Zodiac clothing. Apart from these big known brands India has given birth to some of the finest fashion designers who have become famous brands not only in the country but in the whole world. The introduction of a large number of designers in the fashion industry has given a further boost to the Indian fashion industry. According to a research conducted by the Fashion Design Council of India, apparels created by designers in India will play a major role in the growth of the apparel industry in the upcoming years. Today the Indian fashion designer...