Project Report For Saree Business
Project report for Saree Business is as follows.
Sarees had been adored throughout India for centuries. Despite the fact that the desire has waned over time, the saree nevertheless maintains a sizable market share among Indian women’s clothing. In the Indian market, there is a broad spectrum of sarees starting from INR 100 to INR 1,00,000, with over 100 different styles, colours, patterns, and fabric kinds.
In the ladies clothing market, the saree is by far the most famous garment in the country. The retail valuation of India’s women’s wear industry was approximated to be around INR 122,600 crore (US$ 19.2 billion) in 2017, with saree account for roughly a third of that, or well almost INR 38,000 crore. This sector is anticipated to expand at a CAGR of 5% to 6% between 2018 and 2023, because of to increased demand for the saree from numerous regions across the country.
Cotton believed to be the most common material for sarees, but that has evolved over the years, with artifical/blended materials currently contributing for nearly 72 percent of the whole market, cotton contributing for 26 percent, and silk contributing for roughly 2% of total fibre usage.
MMF and mixed fibres grown in prominence owing to their superior look and reduced price when contrasted to cotton and silk. Nevertheless, as climatic conditions change, ladies are choosing sarees made of silk or even other comparable fibres like viscose.
Market potential & Strategy
One of the main causes for the rise of sarees in India is the internet market. Because sarees are mostly worn in rural regions, wherein internet access is rising by the day, this would open up new revenue streams for shareholders in the Indian saree business.
E-commerce has become an essential means of buying due to the rising prevalence of the Internet, the increasing spending capacity of women, strong brand awareness, and taste in fashion.
Consumers are becoming more conscious of brands, and as a result, they are considering alternatives depending not just on price as well as on brand.
Many internet sites are developing concepts for customising Indian women’s clothing. As a result, like all other areas of the women’s clothing industry, the saree segment is set to alter dramatically in the coming years.
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