The Power of Value (Denim) Fashion in Redefining Style for Budget-Conscious Consumers

Through its focus on quality and accessibility, V2 Retail has positioned itself as a brand that brings contemporary fashion within reach, capturing a broad segment of consumers eager for stylish, affordable denim options...

- Akash Agarwal, WholeTime Director, V2 Retail

The era of luxury and premium brands ruling the Indian market is slowly fading out. The trend has shifted to affordable and trendy fashion, capturing the millions of hearts of budget-conscious people. With cost-effective apparel and footwear on the rise, there exists competition among retailers to expand into this booming segment referred to as "value fashion." This shift is more than just about saving money; it digs into the complex depths of the human psyche, where people usually seek comfort through low-cost fashion choices.

By offering contemporary fashion apparel and accessories at affordable rates, value fashion companies have altered the dynamics of the industry. By offering contemporary apparel and accessories at lower rates, value fashion has become accessible to a broader variety of consumers. Consequently, value fashion bridges the gap between affordability and aspiration of numerous customers catered to by the Indian garment market. Following this, Statista has projected that the Indian fashion retail market will surpass 11 trillion rupees by 2027.

The Psychology Behind Value Retail Fashion

In 2023, a poll was conducted by Deloitte with 114,000 people from 23 nations involved in it. More than 80% of them stated that they purchase at least one luxury item to improve their mood, whereas only 42% claimed that they can afford it. The survey further revealed that while expensive spending is frequent among the impoverished, value fashion therapy offers a sustainable and guilt-free alternative. During days of mental turbulence or uncertainty, choosing economical clothes may provide a sense of agency and empowerment. It helps people to conduct self-care without the financial obligations that are usually associated with premium shopping.

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