Like any other industry, kidswear industry in India has had its fair share of challenges. However, it’s a known fact that success can never be achieved without hurdles. It’s a testament to the kidswear industry’s hard work and determination that it has come out stronger than ever! Let’s have a look as the top 3 challenges that the kidswear industry has faced and overcome:
1. Competition from International Markets
Due to globalization, international kidswear brands are rapidly encroaching upon the Indian market. Along with swiftly catching up with the Indian mindset, they are also coming up with lucrative alternatives like eco-friendly and organic kidswear. Their loyal base sends the message loud and clear: They are here to stay!
This is nothing short of a wake-up call for Indian kidswear brands. Even though the Indian kidswear industry has already started coming up with new strategies to one-up their competitors, the momentum needs to pick up. It’s crucial for the entire Indian kidswear industry to amp up their game if they wish to survive in this competition.
2. The Pandemic
The COVID-19 pandemic was a blow to Indian economy and needless to say, the kidswear industry was not spared. Owing to the nationwide lockdown, economy dwindled rapidly and drastically. The statistical reports that predicted global kidswear market to grow at a CAGR of 8.76 per cent, during the forecast period 2020-2025, were rendered null and void. Simply put, purchasing clothes under such disastrous circumstances was not a priority.
However, the lifting of the lockdown brought some much-needed relief when reports confirmed that demand of kidswear collections shot up thrice the amount since the pre-lockdown period. Online kidswear portals have contributed considerably to this speedy recovery.
3. Low Profits
The reasons discussed above make it evident that though the kidswear industry has huge potential to grow bigger and better, it is by no means invincible. On top of that, issues like inadequate supply chain support, unfortunate strategic blunders, poor organization, etc., threaten the kidswear market in India every step of the way. Due to this, profits frequently get stagnated in the kidswear industry or in the worst-case scenario, go downhill.
Challenges are inevitable but what keeps every industry relevant is their zest to do better and their hunger for progress. The key is to stop worrying about the negatives and put in the best effort whole-heartedly. And Kidcity is here to help you do just that!
Whether you are a manufacturer, retailer, or a kidswear brand, Kidcity has got you covered. Rake in unimaginable profits with India’s first technology driven kidswear platform with full assistance at every stage. With industry specific solutions and spectacular benefits, nothing can come in the way of success now!