August, 18, 2014
“Clothing is one of the largest purchased categories in online retail and it proves that not all consumers wish to ‘touch and feel’ all clothing items all the time, says the top honcho of a textile, apparel and retail consultancy based out of Delhi.
In a freewheeling chat with fibre2fashion, Harminder Sahni, founder and MD of Wazir Advisors informs, “I believe in supporting innovation and new ideas and also am a big supporter of use of technology to offer better choices and more convenience to consumers while keeping costs in check and also earning decent return for investors.
“In this context, I have been a supporter of modernizing Indian retail, and online retail is just another step in that process. Clothing is one of the largest purchased categories in online retail and it proves that not all consumers wish to "touch and feel" all clothing items all the time.
“I believe that people trust brands and have also started to trust select online retailers and are willing to shop online even for expensive clothing with an assurance that there won't be any issue and even if it occurs, the online retailer or brand will take care of it.”
Wazir Advisors Pvt. Ltd founded five years back by Harminder Sahni, is one of the most reputed consulting firms in India. Strategy formulation to help Indian and international companies to compete and succeed in the Indian market, is the main business of Wazir Advisors. Its clientele includes some of the best names in the global industry.
When quizzed on his opinion on Amazon's expansion plans in India and if it will be fruitful for the Indian textile and apparel industry, he replied by saying, “Yes, not only Amazon's plans but any additional investment in modernizing retail whether - online or offline, will increase the reach and penetration. Current consumers will shop more due to convenience and new customers who didn’t have access, will start shopping due to availability.
On his take on permitting FDI in retailing, he nonchalantly says, “I support investment into modernizing retail from any source. The quantum of investment required to modernize antiquated Indian retail networks is so large, that we should welcome FDI to support the domestic efforts, so that the goal of modernization can be achieved faster. – (Courtesy Fibre2fashion News Desk – India)