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A wardrobe refresh seems to have been a key theme for consumers this year.
A survey by ZestMoney revealed that 72 per cent of respondents spent more on fashion in 2021 than the previous year, indicating a resurgence in consumer spending and demand in the segment.
According to the survey, customers in the age group of 18-30 drove the demand for online fashion with 71 per cent of them spending on the category, ZestMoney said in a statement adding that the average ticket size of transactions done by women were 20 per cent higher than that done by men.
About 58 per cent of the respondents said they have spent more than ₹5,000 on their fashion needs over the last three months.
Buy Now Pay Later platform
ZestMoney is a Buy Now Pay Later platform. The consumer survey was carried out across the country and drew 2,800 responses, 85 per cent of which were from millennials and Gen Z.
The top Tier I cities driving demand for fashion and beauty are Delhi, Bangalore, Mumbai, Hyderabad, and Pune.
E-commerce platforms remained the preferred means of buying for the majority of customers, with 72 per cent preferring online shopping due to the enhanced convenience and hassle-free experience it provides. However, 76 per cent said they were also comfortable purchasing in person at physical stores.
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