10 Reasons To Start Your Fashion Hyperlocal Ecommerce Marketplace With ONDC Network

Hyperlocal ecommerce is the hottest trend today, not limited to grocery, FnB, and daily essentials.  With rising customer demands for fast deliveries and instant gratification, various industries are embracing this model.

One such sector thriving under the hyperlocal ecommerce model is the fashion Industry. Whether it’s apparel, footwear, accessories, or jewelery items, modern buyers want their orders as quickly as possible, and this demand is being fulfilled smoothly and reliably by fashion hyperlocal ecommerce marketplaces. 

Why Indian Fashion Ecommerce Businesses Should Pivot to the Hyperlocal Business Model

If you run an enterprise fashion ecommerce business or are looking to start one, you must cater to new-age customers' needs and preferences to stay ahead of the competition.  

The Indian fashion ecommerce market has witnessed tremendous growth in the past few years,  now accounting for 18.7% of the total $70 billion Indian ecommerce market.  Accounting for 60% transactions by volume, the fashion and accessories sector dominates the ecommerce market, source (Invest India).

To give you a clearer picture of this rapid expansion, here are some compelling figures showcasing the growth of the Indian online fashion market:

      Fashion Ecommerce Market Trends in India

• $ 14 billion was the Indian fashion ecommerce market size in 2023
• 34% is the projected CAGR of the Indian online fashion market from 2023 to 2030
• $ 18.76 billion is the expected market value of Indian fashion ecommerce by 2030
• 289.57 million is the forecasted number of users in the fashion ecommerce market in India by 2029 
• 18.7% of India’s total ecommerce market comprises of fashion ecommerce

Source: CoherentMI, Statista, ecommercedb

Key Factors Driving the Growth of the Indian Fashion Ecommerce Market

Several factors contribute to the astonishing growth of Indian fashion ecommerce:

1. Rapid Urbanisation: With India rapidly urbanizing, customers are finding online shopping more convenient.
2. Mobile and Internet Penetration: The increasing penetration of affordable mobile phones and internet connectivity in Tier II + cities has significantly boosted customer engagement with online fashion platforms.
3. Competitive Pricing: The fierce competition among fashion e-commerce platforms has led to better pricing for customers. Branded apparel, footwear, jewelery and accessories, that were once out of reach for many middle-class buyers, are now available at budget-friendly rates.
4. Easy Access to Fast Fashion: The rise of fast fashion has made it easier and more affordable for customers to buy the latest styles online
5. Influence of Social Media: Social Media has a big role in the growth of online fashion. With influencers and brands flaunting the latest fashion on Social Media handles, customers are increasingly drawn to ecommerce platforms to embrace these styles.
6. Improved Logistics and Delivery Services: Enhanced logistics networks and faster delivery options have made online shopping more convenient. Customers even in remote locations can now expect their fashion orders to arrive quickly boosting their confidence in online shopping.

The Indian fashion e-commerce market is skyrocketing.

So, why not adopt a business model that seamlessly connects your fashion business with your customers and takes your fashion business to the next level of success?

Entering the hyperlocal arena is the way to go.

10 Reasons to Start Your Fashion Hyperlocal Ecommerce Marketplace with ONDC Network

Here are the top 10 reasons to transition your fashion business to a hyperlocal model with the ONDC Network:

1. Cost-Efficient Tech Solutions

The ONDC Network-compliant Mystore Seller App offers ready-to-use tools and features to streamline operations for your fashion enterprise. With next-gen hyperlocal ecommerce solutions from Mystore, you can easily onboard your fashion brand to the ONDC Network, manage sellers from different locations, and start selling in various markets effectively. Mystore offers 120+ pre-integrated software/service providers to help you easily run your business in various local markets.

Moreover, built on decoupled headless architecture with an API-first approach, Mystore enables you and your sellers to integrate with various software and service providers such as ERP software, and logistics providers, etc of your choice. 

2. No Upfront Cost for Setting Up Local Warehouses

The traditional hyperlocal model requires significant investments in setting up warehouses in different towns and cities and stocking inventories. However, when you choose hyperlocal ecommerce solutions for ONDC Network you can start without the financial burden of establishing and maintaining local warehouses. 

Wondering how?

By adopting Mystore’s seller-network powered location-based hyperlocal ecommerce solutions. With the Mystore Seller App, you can partner with fashion retailers and brand dealers in different locations and onboard them on the ONDC Network as your vendors. Partnering with leading fashion brand dealers and trusted local fashion stores helps you expand your product variety and establish a loyal customer base for your fashion hyperlocal ecommerce marketplace.

3. Zero Inventory Cost

One of the standout features of embracing hyperlocal ecommerce through ONDC Network for your fashion brand is zero inventory cost. As the Mystore Seller App operates on the dealer-based model, you do not need to invest in stocking up inventories to run your fashion hyperlocal ecommerce marketplace. 

With hyperlocal seller/dealer partners onboarded on the ONDC Network, the hassle of setting up warehouses, and stocking up inventories is automatically taken care of. You can leverage the inventory and warehouses of your vendors to sell on your hyperlocal marketplace.

4. Multi-Channel Buyer Reach

Built on the hyperlocal-first approach and open network algorithm, the ONDC Network significantly boosts your visibility to untapped and emerging local markets. Registering your fashion hyperlocal ecommerce marketplace on ONDC Network through any seller app automatically enhances your brand's visibility across multiple buyer apps connected to the ONDC Network.

Additionally, selling on the ONDC Network via Mystore ensures multichannel presence for your brand across the Mystore Buyer App, website, and PWA. Thus selling on the Open Network for Digital Commerce increases your chances of attracting a diverse local audience and driving more sales for your fashion enterprise business.

5. Easily Manage Sellers Across Various Localities

Onboarding your fashion hyperlocal ecommerce marketplace on the ONDC Network and managing a large pool of sellers across various local markets may sound tricky. But the Mystore hyperlocal ecommerce solutions for ONDC Network have completely simplified the whole process with comprehensive seller manager solutions.

With Mystore’s easy-to-use seller management feature, you can easily onboard fashion sellers across various geolocations on the ONDC Network. Each seller will have their own vendor dashboard to manage their sales effectively on the ONDC Network. They can easily upload catalogues, update inventories, and manage orders and fullfilment on the open network, while you can oversee the sellers' activities and manage their business activities from a central admin panel.

6. Boost Local Reach with Hyperlocal-First ONDC Network Policy

The ONDC Network is built on the hyperlocal first algorithm which enhances your connection with local customers. By onboarding fashion sellers from various geographical locations to the ONDC Network, you automatically boost your local reach and attract customers to your fashion enterprise hyperlocal marketplace.

By focusing on serving in local markets through your partner sellers and dealers, you can offer faster deliveries and personalised services, which are the topmost demands of customers for fashion product orders nowadays. The hyperlocal first approach and inherent open network capabilities of the ONDC Network help your fashion enterprise business tap into the growing demand for instant and localised fashion solutions.

7. No One Can Dictate Business Rules

If you think pivoting to hyperlocal ecommerce through ONDC Network requires following a gamut of rules and regulations, then you are wrong.

You can sell on ONDC Network on your own terms and conditions.  You can add, delete, or update catalogues, set prices, discounts, coupons, delivery charges, set privacy policies, vendor policies, promotions, etc for your fashion hyperlocal ecommerce marketplace.

You only need to follow the hyperlocal ecommerce regulations, compliance, product quality, and quick deliveries within the stipulated timeline, and the rest is up to you to decide. This autonomy enables you to tailor your fashion enterprise business to meet your needs and market demands.

8. Complete Access to Market Insights and Buying Trends 

In the ever-changing market dynamics, it is crucial to analyse the customers' preferences and buying trends frequently to stay competitive in various local markets. Lack of customers’ data can deprive you of making decisions for your business growth which can subsequently lead to the downfall of your business.

Thankfully, you can opt for hyperlocal ecommerce through ONDC Network where you will have complete access to the current market conditions, buying trends, and customer data across different localities. Understanding these trends helps you make informed decisions about product offerings, pricing, and marketing strategies which ultimately leads to increased customer satisfaction and enhanced sales.

9. Fullment is Easier than You Thought

Running an enterprise fashion marketplace with a hyperlocal business model requires efficiently managing multiple orders and ensuring quick deliveries within a set timeframe.

Seems daunting?

But it's not when you choose the hyperlocal ecommerce solutions for ONDC Network. The ONDC Network offers integrated last-mile delivery providers to streamline your order fulfilment.

Moreover, you can leverage local delivery boys of your sellers and manage them effectively with delivery boy management solutions offered by Mystore.

With Mystore, you have the flexibility to switch between on-network and off-network logistics providers. This allows you to better manage your hyperlocal deliveries, streamline your fulfillment processes, and optimize your fulfillment costs.

10. Next-Level Support for Sellers, Service Providers, and Customers

Managing your vendors and gaining customer traction toward your hyperlocal fashion business on the ONDC Network requires an exceptional support solution.  Mystore’s hyperlocal ecommerce solutions for ONDC Network offer robust grievance management and ticketing systems integrated with ONDC Network’s IGM framework to respond to customers' queries and resolve them easily.

Mystore offers a 3-way buyer-Mystore-seller ticketing system to address queries of your vendors, logistics providers, and customers. 

Conclusion

Hyperlocal ecommerce has changed the ecommerce landscape, and the fashion industry is no exception. Customers are now conditioned for fast delivery and instant gratification in the fashion industry. From apparel and footwear to accessories and jewelery items, and even the latest gadgets, customers want everything delivered right to their doorsteps quickly.

To take your fashion enterprise business to the next level of success, you must cater to the needs and preferences of modern customers. That’s where Mystore’s next-gen hyperlocal ecommerce solutions for ONDC Network can make a difference. Hyperlocal ecommerce through ONDC Network enables your fashion brand to easily penetrate new markets, offer personalised buyer journeys and quickly adapt to changing market dynamics. 

Ready to enter the hyperlocal ecommerce battleground? Register your fashion hyperlocal ecommerce marketplace on the Mystore Seller App today.