Mobiles to drive India's 70% fashion accessory purchases by 2022: Report
New Delhi, July 31 : By 2022, seven in ten fashion accessory purchases in India will be influenced by mobile phones, predicts a new Facebook-KPMG report said on Tuesday.
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 unnecessary additional effort, incremental step or inconvenience.
According to the findings of the report, friction accounts for 19 per cent of consumer dropouts, in apparel category, and in 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.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Death toll from Israeli strikes in northeast Lebanon rises from 8 to 24, Lebanese news agency says
Deir al-Balah, Nov 1: Israeli airstrikes on Friday killed at least 24 people in northeastern Lebanon, the country's news agency said, raising the death toll from eight there.
It was the latest deadly toll in the area since the conflict between Israel and the Lebanese group Hezbollah escalated last month.
Israel's military has said that its operation in Lebanon is targeting Hezbollah's military infrastructure.
Lebanon's state National news Agency reported four airstrikes in different villages across country's northeast, saying rescuers were still searching for survivors in Younine, a town in the Bekaa Valley, from the rubble of a targeted house.
Hussein Haj Hassan, a Lebanese lawmaker representing the region in Baalbek-Hermel region, said that 60,000 people have already fled their homes in the area due to Israeli bombardment.
