The Nationwide Lockdown Is Causing An Economic Frenzy

As the nationwide lockdown increases, the economy is stumbling down the hill. The impact of the initial 21-day lockdown, now extended to 30th April, is severe. The lockdown will add side stress to an already slow economy. The impact is estimated to be much worse than the aftermath of 2016 demonetization or the 2017 GST rollout. We don’t need an expert economist to determine the current state of the supply side of the economy. The production, distribution, and retail of all the products and services, with the exception of essential items is at a standstill. In this blog we will glance over the short-term and long-term effects of the lockdown on the Indian economy. This eagle eye view will help us determine the direction and assess the current situation based on the data from recognized bodies and media sources. 

According to Business Today, the GDP growth rate has been falling since Q4 of FY18. If there is a deviation, it’ll be due to the NSO (National Statistical Office) revising its data on February 28, 2020, drastically cutting down growth rates in the first three-quarters of FY19. 

According to the experts at Business Today, this lockdown affects a minimum of 55% or Rs. 2 lakh crore. This is only due to the lockdown of the central government. The state governments had induced partial and smaller lockdowns adding to this amount. If you think that when everything reopens and people rush out to buy things that can stabilize the loss occurring now, then it is important to note that this does not add to the GDP, as the goods are already produced and accounted for. A couple of months down the line the final production and sale may resume.   

As the full production resumes, there will be many unemployed without an income. As a result, the demand side will be a significant worry. This lockdown has forced many productions to halt and many employees to lose their jobs. When the lockdown ends, many will not have the means or the resources to buy things.  

Rangarajan, an economist from Business Today said “In the financial year 2020, we would be lucky if the growth rate is 3.5% (full fiscal). In the first half, we would be lucky if the growth rate is 0. In the second half, the growth could revive by as much as 7%, taking the average growth for the year to 3.5%. In Q1 of financial year 2021, the growth rate will be negative.” 

The News18 estimates that the Indian economy will see only 2% growth in 2021. Investment Information and Credit Rating Agency of India Limited (IICRA India) said that the lockdown will cut the country’s GDP forecast during the COVID-19 pandemic and it expects the economy to grow at just 2%. The rating agency’s VP said that it is highly uncertain when the situation will normalize. But they are expecting a downturn through multiple indicators of service and manufacturing industries from March 2020. This will include activities like travel, hospitality, construction, transport, exports, electricity, and manufacturing of non-essential items. 

The global economy slowing down and lockouts will affect sectors that have a higher dependency on global demand. The key impacted markets can be of Europe, North-America, and South-East-Asia. 

The CMIE (Centre for Monitoring Indian Economy) shared a report on April 5, stating that the unemployment rate has increased to 23.38% from 8.41% (on 22nd March). This sudden spike has caused a stir amongst the working class. The inevitable lockdown is driving the economy in troubled waters and possibly drowning it.  

According to a forecast by Care Ratings, it is estimated that 80% of production activity is at a halt during the lockdown, the economy is losing Rs. 35,000 – 40,000 crore on a daily basis. Cumulatively it is difficult to imagine the total damage done. It can take months, if not years to repair the destruction caused. It will be critical to see what steps the Finance Ministry will take in order to restore the economy. 

In an interview with News18, Radhika Pandey from the National Institute of Public Finance and Policy, or NIPFP, a research institute under the finance ministry said that “The Indian economy was already passing through a period of slowdown. With the COVID-19 forcing a complete lockdown, any possibility of a rapid recovery in the near future looks grim. Consumption of non-essential items will be adversely impacted in light of the lockdown. The informal sector will be hit and the MSME”—medium and small and micro enterprises—“sector which works on tight margins, will feel the impact of demand destruction.” 

Conclusion: 

Over the past years, the economy has taken many hits like demonetization and the GST roll-out under the current government but it has bounced back to a respectable degree. This sector slow-down on top of the six-year low GDP rate of 4.5% is breaking any prospects that can save the future growth. The low development and unemployment are becoming two sides of the same coin. Investment and consumption are mingled. In order to start the entire cycle, there has to be prospects and possibilities for investments.  As the economy is showing no signs to pick any pace up even after relief funds and economic injections. There is an upside as the essential items like sanitizers, soaps, masks, and medical equipment are high in demand, the sector is showing promising growth and the pharmaceuticals are making unbelievable profits. The silver lining to this storm is that the authorities are paying the financial cost to keep the citizens safe and control the pandemic. This quarter will prove to be make or break for this financial year. If the lockdown increases, we may see many adverse repercussions. Is the Indian economy equipped to bounce back? It is difficult to say at the moment as consumerism is plummeting. Hence, in the meanwhile, all we can do is give our two cents and hope for the best.   

How pricing, promotion, analytics, and technology can help you become a successful multichannel retailer

As you are aware, the organizational planning and implementation is essential for controlling a multichannel strategy. The strategy is important to know that the shoppers, irrespective of the sales channel they are using, should get quality and consistent services. In this blog we are discussing the importance of  pricing, promotion, analytics, and technology to become a successful multi-channel retailer. 

Let’s track each and every step with an example. Let’s say any shopper decides to buy a smartphone. The first thing to consider is the price, what are the best options in that budget? Should you buy it directly from your favorite website? Should you buy from the store? Should you compare prices? Should you check the reviews? And many other questions. This customer journey will help the retailers with many touch points. Let’s contemplate the factors on multichannel marketing.  

Price

Considering our imaginary product, the shopper is navigating through multiple popular e-commerce websites. What is the person looking for? The lowest price possible. It can be in the form of cashback or loyalty points. If the shopper can find a cheaper price at other websites what would that mean for you? And if you cannot reduce the price at your end, what other things can you add in the projected prices which may include additional warranties, discounts on further purchases and some freebies. If organizations can manage and invest in Product Information Management (PIM), these systems can help them by managing product information. This information is released on different media outlets, websites, and catalogs. Your company has to manage a uniform price across all the channels to provide uniformity. 

Promotion

As we referred to the hypersensitivity of prices, organizations have to take care of the promotions they are dispersing across different channels. We can go back to the smartphone example. Imagine if the smartphone offer was different on one website and drastically changes on the other one. How would that impact the shopper? And what brand image that can establish on the mass shoppers. Your marketing budget can be finite and the sales channels are growing by the day, so without a clear understanding of the purchase path and the role of sales channels in each step, there are plenty of uninformed promotional investments. If you get a hold of the correct data, you can target the right promotional strategy to help the customer throughout the shopping journey.  

Analytics

Let’s take one step further in our imaginary journey of a smartphone, for instance, you have already purchased a smartphone online. The organization selling it is continuously investing in search engine optimization to ensure that it is easily found on the internet. This organization is making sure that its search results respond to the ‘latest’ + ‘smartphone’ + ‘best price’ and other important keywords. This organization is also maintaining its Facebook and other social media platforms with happy stories from its happy customers. Even though it is complicated, it is important to refer to the analytics, because it will help you understand the shopper, and decide the where and how of the investment. This will help you understand how each of the channels is performing and how to optimize the shopper experience. 

Technology

Technology will be playing such an important role in a multichannel marketing strategy. As mentioned previously a PIM system manages all the information that has to be shared on other media channels. In the same manner, the inventory management systems can help in adding transparency in the product inventory control and distribution. Technology is also helping in understanding what type of engagement is each channel drawing. By using these, the organizations can make sure that the services provided are even and uniform across all the channels. 

Conclusion: 

To strategize, you have to understand the journey of the customer. The current shoppers are researching on multiple platforms before making a purchase. It is not a linear process anymore, there are multiple activities, technology and channels involved. Thinking about the shoppers’ journey will help you to add more context. 

Why is search centric AI changing the e-commerce landscape?

It is very common for customers to abandon shopping experiences because the product results shown are irrelevant. Many e-commerce platforms are trying to enhance the part AI plays in searches to the extent, where the e-commerce search engines should be thinking the way humans do. Now that there are multiple platforms in the market and the race is to be better than your competition. The search results need to narrow, contextualise and ultimately improve the outcome. Lately, plenty of search results are increasing their visual elements. The basic idea is to configure AI and machine learning in such a way that it starts contemplating as you do. The leveraging of machine learning and AI to automatically prioritize and label content based on the features of the image or description. These labels can also be modified to read and use assets like keyword tags. 

Technologies like AI are giving the e-commerce business a competitive edge and it is at the dispersal of developers and businesses of smaller and larger magnitude. The most common visual recognition platform is Google Lens, where you can take an image and find similar results. One of the latest examples of visual recognition is also used by Pinterest. You can select any image and then ask Pinterest to show you similar results. The image recognition helps its AI to configure and procure similar images. The shopping experiences are becoming more refined, the shoppers are rapidly saying bye to impulse control as the innovative visual search capabilities are motivating them to search more.  

Ai is helping shoppers to find complementary products regardless of size, shape, material, color and even brand. The capabilities of these softwares is astounding. These softwares collect visual imagery from the uploaded product and collect visual cues to find products that match. AI provides an ease to a level where the shoppers don’t have to search for their desired products specifically. The top results for their past searches and habits accumulate to provide a logical list that matches their search history and product search. For example, if you like a pair of shoes on someone, and you have a visual, you can easily search with the AI, as it enables you to find similar items through online/e-commerce stores. 

With the dawn of the new shopping era, the expectations of shoppers is increasing by the hour. They want the time between demand and supply to be minimized. It is becoming more and more difficult to satisfy customers without compromising on quality. 

In India, many big names such as Flipkart are also experimenting with AI and machine learning. They are navigating through qualities of catalog, size recommendations, and even avoiding fraud orders. The recommendation algorithm has to work like the best salesman in the company i.e. the one who is great at upselling. The buyer’s behavior is playing a major role in these search results. These outcomes are helping to elevate the customer experience which can help in increasing sales. There are also options to compare prices, features, and descriptions. These comparison helps you to put together all the product variants you are interested in and choose the best option. 

With endless categories on e-commerce websites, it becomes a tad bit difficult for any business to keep an eye on the live inventory. AI is changing the ways of inventory management. You can easily understand it this way, as soon as the last item is purchased, the system deems it out of stock. With the help of AI, organizations can keep a track of all the orders, it can help in managing the inventory in warehouses and ensure that the organization has enough stock, particularly in the cases of products which are in high demand. 

Security has always been a concern while shopping online. Many customers fear that their data can be misused. The importance of cyber-security in the e-commerce industry is the need of the hour. AI is helping to a great extent by identifying red flags and eliminating the chances of fraud.

AI is being used by various e-commerce platforms like Amazon, Flipkart and Taglr in the form of the chatbox, inventory management, behavioral insights, strategizing and contextual messaging. We at Taglr firmly believe that AI and machine learning will bring a great difference in profits and growth. We are excited to see how the Indian e-commerce platforms will be procuring new techniques to incorporate AI and make it a part of their business. 

What Does The First Quarter Has In Store For Indian E-commerce?

The onset of upcoming trends in the Indian e-commerce is gaining momentum and growing exponentially. If we take a look at the projected statistics for this quarter, it looks promising. The most anticipated days are the big gifting calendar events like Valentine’s Day and International Women’s Day. The first month can be defined as a preparatory period. The sales will be stagnant, as people are still cashing in on the tail end of the New Year deals which goes on until 10th January approx. The compound annual growth rate (CAGR) for the Indian e-commerce market will be increasing by almost 20% in amounting to US$ 64 Billion in 2020. 

Category Composition:

The predominant category is electronics as it will consist of almost half the market at 48%, followed by Fashion at 29%. This percentage is expected to remain the same as smartphones are still one of the most searched products across all platforms. People are still shy about buying home and furnishing products online, hence it only comprises 9% of the entire industry. The baby, beauty and selfcare together sums upto 8%. The books and other products are at 3% each. The category composition projects that electronics will still be a favorite choice across the gifting events. This category composition is based on the analytics of popular e-commerce websites.  

Comparison from last Quarter:

Based on the data of the last quarter, we at Taglr observed that the maximum clicks, almost 62% in the first quarter were for the electronics, followed by fashion at 26%, then home & furnishing which consists for 8%, then lastly we observed that health and wellness got the least attention summing up to only 4% of the total clicks in the in the first quarter. As the first quarter of 2020, we expect similar behavior from our shoppers, there is an expectation that the category compartmentalization will remain the same, but there will be a surge on an average of 20% in clicks. The orders in which the categories are leading will remain the same. 

For further analysis, let’s break down the products in the major two categories and take a closer look at what products are expected to draw most attention. This prediction will be based on the search results on Taglr. This may vary for different websites, but will help you in understanding how to position your products, and which ones to showcase based on the data. Let’s begin:

Electronics:

The most searched product will be smartphones, followed by accessories and then laptops. The other kitchen and smaller appliances will be the last in line. The smartphone market never seems to disappoint throughout the year. With the launch of any smartphone from a leading brand, the internet searches rise. This quarter will be a great time to make sure that you are also putting the smaller accessories on the front line. The accessories sell all year long, irrespective of the season sale and events. 

Fashion:

The fashion industry is capturing more market every year. There are high expectations from the apparel industry. In this quarter, the ethnic wear in apparel category will be the favourite. There are big events like the Republic Day and Holi. These festivals will also accelerate the colour oriented searches for clothing. For Republic Day, the searches will be mostly for flag colours (saffron, white & green). The other major calendar event is Holi, there are a lot of offers on apparel and accessories. Shoppers will mostly search for ethnic clothes. As for Valentine’s day the main focus will be on gifting, so the apparel industry may not see a significant difference in searches or sales, but there is a big scope for other categories. 

Important Dates and Events:

Based on the search statistics of last year, the peak searches for the first month will be on 26th January. There are usually a lot of exciting offers for shoppers. Hence a lot of them are on the e-commerce websites to get a great deal. With the onset of February, the peak searches will be 3-5 days before Valentine’s day. The gifting season will be upon everyone. So the demographic between 18-35 years will be busy on the wide web looking for gifts. The searches are comparatively low on 14th February, as most of the shoppers would have already placed orders and bought gifts. The dates for the month of March will always vary. The festival of Holi has dynamic dates, but the search peaks will be seen in the beginning, mostly for Women’s day. A few days before 8th March, apparently between 2nd-5th March, there will be more traffic than usual on the e-commerce websites. As for Holi, there are specific sections of shoppers looking for a good deal or an ethnic wear for the Holi party will be spending time on the websites. 

Conclusion:  

The first quarter will give some momentum to the year, but it is expected to slow down. If you’re a  seller, the best thing to do is to bank on the evergreen products and accessories that people buy across the year. There are products like denim, shoes, books, etc. It doesn’t matter what products you are dealing in, as long as you learn how to position it in such a way that it attracts attention. You can always change the kind of offers you provide. There are multiple options for you if you want to create a loyal base for shoppers. The shoppers have to know that they will be getting the best deals from you. Keep in mind the dates and products in advance and plan accordingly.  

Types and Steps for Content Management Systems

Do you consider content management a simple way of storing and creating a library for content reuse? then you are just half correct. Content Management is an entire procedure where you have to organize and put together different types of content like text, multimedia and graphics with their tagging schemes (XML, HTML). This has to be done efficiently while storing them in a repository commonly known as a Content Management System (CMS). These content pieces are henceforth organized and can be used again and again if needed for different platforms or publications.  

There are plenty of CMS platforms to take care of the needs in different categories and industries. CMS is not only about taking care of the website’s content but also for digital assets like branding guidelines, business plans, emails and many more. Resource management is very important in fields like healthcare and other sectors which require specific reporting requirements. It can also play an important role in the financial industry where being transparent is critical and in manufacturing, to whom an accurate user guide is key to overall quality control.

With content management systems like WordPress, which is one of the most popular systems used, all you have to do is put your content on an interface which looks a lot like Microsoft Word. You also have the option of editing any publishing content through CMS. As content is not only about text but also about media. You can manage what image can be published alongside your text.  

What constitutes a CMS?

If we move to a technical level, the content management systems is made up of 2 different core parts: namely CMA (Content Management Application) and CDA (Content Delivery Application). Understanding these core parts is simple. A CMA allows you to add or manage content on your website. On the other hand CDA is more like a backend. It helps you control the backend process that will take the content that you insert in the CMA and store it, make it more visible. These two systems together will make it much easier for you to maintain and look over the content of your website.   

The most popular content management system is WordPress. It maintains over 62% of market share on websites. Some other examples are Joomla, TYPO3 and many more. We at Taglr also use WordPress for our content management.  

There are different kinds of content management systems and they all serve a different purpose:

Type of CMSSpeciality
Document Management System (DMS)Helps you to manage whole documents rather than the actual content itself
Enterprise Content Management System (ECM) It helps you to take care of all sections of content within an organization i.e., e-mails, business documents, etc
Web Content Management System  (WCMS) Manages in delivering content to websites
Digital Asset Management System (DAM)
Helps in managing multimedia and corresponding data. 
Component Content Management (CCMS)/ aka XML Content Management (XML CMS) Manages content for reuse as it stores content as a single source.

What is the process for Content Management Systems? 

Organization: You have to create categories, assign taxonomies and classify. 

Create: You have to put content into a designated category.

Storage: The format and flexibility to access the content decides the storage location. 

Workflow: A structure is designed to ensure that the content moves smoothly. 

Editing: This helps in managing more number of content versions with any presentation changes.

Publishing: Self-explanatory, this is the step where content is published to the users. 

Removal: This is the final step where the content is either removed or put into archive where it can be reused. 

Although the content needs of the organization will decide the steps and which ones to follow. But this blueprint is a basic step guide for most of the commonly used systems. Our content management at Taglr ensures that we follow all the niche steps to create, store and archive our content to use it in the long run. 

Conclusion: 

Every Content Management System has methods to limit the number of actions a user can take. The task of CMS is mainly to carry out the instructions as per the guidelines. These plans have to be made with human interaction and judgement. You have to understand the needs of your organization, the vision and the requirements. It should not be about publishing text but how to present it, manage it and reuse it when necessary. The bigger the organization the larger the needs. These organizations might have to maintain several regional websites and collaboration within different business units. If you are looking for a content management system, you have to consider the needs of your company. The primary step is choosing the correct system and making yourself familiar with all the options available in today’s market.  

If you are not using any CMS, there is a high chance that as your company grows and you publish more information on your website and social media, it will be difficult for you to manage and track. It becomes really tedious to find relevant content when needed. You have to think of it like storing files in the cabinet. If it is not done properly from the beginning, in the end it is just a cluster of files filling upon a room where you won’t be able to find anything.

Is Influencer Marketing still a good choice?

Are you still on the fence about Influencer Marketing? Or are you confused as your research on the market concludes that it will work for your business. In this blog we will talk about how to set objectives for influencer marketing within your budget and it is worth your money. But before that let’s start with the basics and understand what exactly is Influencer Marketing:

 

What is it?

Influencer marketing has been one of the most favourite trends in the past few years. It is difficult for influencer marketing to exist without content marketing. If you are not sure how to choose the right influencer, we are going to break it down for you. At its core, Influencer marketing is a mix of past and present tools. Known public figures and celebrities are advertising in this content driven market. This joint venture between brands and influencers is a successful marketing mantra. The celebrities can campaign for a product with either a series of videos or posts, millions of their followers provide immediate exposure and engagement that brands desire. 

 

Type of Influencers:

There are three types of identified influencers; Mega-influencers(with 1M+ followers), Macro-influencers(10000-1M followers), and Micro-influencers (500-10000 followers). The market study suggests that micro influencers have been proven to be the best option. They are economic and they motivate the brand with high engagement from the audience. 

 

What is your budget and how can you make it work?

If you have a company that sets aside its budget in the beginning of the year for advertising, you can surely choose influencer marketing. It has been proven through market research that big brands are still interested in influencer marketing, but their objective is only brand awareness. They are not looking for ROI (Return On Investment) and budget is not a constraint for them. But, if you are a startup who has to analyze every step and ration the budget to quantify your growth then it will be too soon for you to dive in influencer marketing. To simplify, we can say that there are two main objectives behind influencer marketing; to create or enhance brand awareness and to generate leads. 

 

The current scenario: 

The smaller companies want leads and traffic or product promotion through influencers. For them micro influencers is the best option, because their investment in the big influencers will not be fruitful. As for the fortune 500 companies, they are burning resources to be omnipresent across all platforms to solidify the brand value amongst their competitors.

 

Approach is key:

Your approach will define your success with influencer marketing, and make sure that you don’t believe the wide web and the information available there. The studies and the percentage is very high and tempting but the data is mostly derived from brands and their faith in influencers. The only question you need to ask is what do you need from the campaign and what is your goal? If it is to generate revenue and increase business then you can stay clear of influencer marketing. You can definitely wait and increase your business scale. Once it has grown exponentially you can make the most of influencer marketing.

 

Influencer marketing is growing rapidly. There is no question of it being as a market favourite in the future. Studies suggest that influencer marketing will boom upto $5-10 billion in the coming years. If you are looking forward to choosing influencer marketing for promoting your business, make sure it is tailor made as per your requirements to get maximum results. At the end it is about creating a market value for our brand and maintaining a brand presence. Keep in mind the basics and always target the right audience. 

 

Conclusion:

Influencer marketing is not going anywhere for awhile. Stating the facts, you should not be persuaded by the trend as it is still in fashion and dive in blind. Be careful with your choices, and your objective. It should be of value to the money you invest. We at Taglr have strategize our Influencer marketing for both the objectives. The key objective of Taglr is brand awareness but generating leads and creating engagement will also be targeted. The good thing about marketing strategies is that you don’t have to confine your needs to the trending standards. You can tailor make it for your organizational needs. So next time you want to hire an influencer for you company’s promotion make sure that you are hiring the right person and you have set a goal.  ')}

What Is Better For Your Business, SEO or SEM?

 

SEO & SEM?

Which one is better?

As we find the answers you have to keep in mind that the scenarios can differ given your business goals and your business model. What implies on one may or may not work for the other. Let’s Start:

What is the similarities and difference between SEO & SEM?

Search Engine Optimization (SEO) is the procedure of elevating the quality and quantity of web traffic by increasing the visibility of a website or a webpage to users of a web search engine. Whereas search engine marketing (SEM) is a form of internet marketing that includes the promotion of websites by enhancing their visibility in search engine results pages primarily through paid advertising.

There are plenty of similarities between the two. Both help your webpage and brand to appear better in search results. This helps you in driving more traffic to your website. It is prerequisite for SEM and SEO to understand your audience. Both use keyword research to understand the trending terms. You have to segment your focus on the specificity of keywords. SEM and SEO require continuous testing as well.

The basic difference between the two is that SEO is an integral component of SEM. There are other important components of SEM like PPC (Pay Per Click) or SMM (Social Media Marketing). Putting it in simple terms, SEM goes beyond SEO. It is not just about higher ranks in the organic searches; it is about the overall performance of the website.

 

Which one is better?

With their differences, SEO and SEM perform different functions. On one hand the impact of SEM is faster and immediate where as SEO takes a lot longer. With the help of SEM ads, you can immediately reflect your outcome in front of your audiences with a clicks. You have complete control over the visibility of the ads; you can start and increase visibility or stop them when necessary. In order to understand which one is better, you need to take into consideration certain factors that can help you decide which one is better for your business. Let’s keep in mind a few scenarios and discuss which will be more suitable for you.

Competition: If you have a lot of competition in your industry then it is better that you start with SEM. If you want to fill in the organic content gaps then you can start implementing the SEO strategy.

 Market Understanding: If you know your market well and have a long term value and demand then you can opt for SEO. In case you are still testing ideas and doing R&D for your products and services, then SEM will serve you better.

 Billing Cycle: The average time span for the customers billing cycle also plays a major role in decision making. If your customers are spending days on research before buying then you have to choose SEO. If your shoppers know what they want and they search & buy it immediately then SEM will work better for your business.

 CPC: The cost per click is low and within you budget in SEM scenario. If your industry demands are very high, then SEO will be more suitable.

SEO state: The contemporary state of your SEO will also help you decide. If your website is still developing and needs work in organic SEO factors then SEM can help you gain more visitors. If your website is already performing well in organic searches then you can stick with your current SEO strategy.

 

Conclusion:

While we are comparing both for you there is no shortcut or formula for you to apply. You have to consider a lot of factors. For some SEO is the right option and for some SEM, where as there are many for whom the combination of both will work better. Now you know the similarities as well as the differences, you will be well equipped to know which will work better for you. If you want to grow your business exponentially, it is clear that you should be utilizing both SEO and SEM strategies for your business. There are plenty of you who would like to rather prioritize one over the other. This can be due to your business goals, branding or even your budget. If budget is your constraint, then you need not to abandon SEO all together. You can make a long term plan and strategize accordingly. ')}

Destigmatizing the taboo of renting branded apparels

The growing trends and dire need to own every runway piece is clustering your closet, sending you into a frenzy. It is time for shopaholics to consider a much more effective option of renting your favourite lenghas, sarees and Dresses. As much as it may sound unconventional, we will be destigmatizing the taboo of rented apparels and providing you many reasons to not spend the big bucks in owning the designer pieces but rather renting them out. Your best bet here will be the rental websites and exclusive stores providing you all that you need for your special day or if you are looking forward to being a part of someone’s special day.

 

Why Rentals?

To be a fashion head is more complicated than it seems, you have to be updated with all the latest trends and ensure that you are on top of the Instagram game whilst you dominate other social media platforms. From your outfit of the day(OOTD) to your spring collections, you feel like owning everything. To do this you don’t have to own every single piece of clothing you wear. You can always have your evergreens like a ravishing white shirt or a blue denim or even your leather jackets. Here we are talking about the outfits that you might put on for a couple of hours and it will embellish your shelf for years to come, the only memorable achievement of that dress is to be passed on to your next generation(who might not care about it). Keeping the bigger picture in mind let’s weigh in on all the benefits of rentals. So don’t hesitate or feel coy to pre-worn clothes, it can relieve you from your routined shopping spree.    

 

Benefit:

Rentals is not only about saving money, it also saves you a lot of space in your wardrobe, which otherwise can be put to good use. Besides, as a byproduct you save tons of time in the process. It seems like a win-win situation where you get to be with the current trends, save time, energy and money. 

 

Options:

It is every shoppers nightmare to repeat clothes in family functions. Imagine an opportunity to wear different outfits for every occasion without tiring yourself with hours of shopping. In case you are unaware of the fact that the fashion industry is one of the most polluting industries, the rental option can also nudge the eco-friendly in you. It seems like a small step but as we know small steps can go a long way. 

 

How to get Rentals?

Now that you are aware of the benefits of rentals, let us also tell you that you can find the best rentals in the online as well as offline space. You even have the option to select brand and manage your search accordingly. If you are planning to attend an outstation wedding, you can rent your clothes for 3-6 days as well, with applicable charges. If you are a social media person, just a simple search on instagram can provide you with multiple options. Refrain from being skeptical about the quality and hygiene. These companies take great care of their customers and their apparels. The clothes are cleaned after every use, they can even help you get it customized as per your size. 

 

Conclusion:

If you are looking for a seamless fashion experience, then renting clothes is the way forward. As per market studies, more and more people are turning towards renting their branded clothes rather than buying. You can either spend hours shopping and spending money, while the clothes you buy, cluster your closet and leaves you stuck in maintaining the apparel for years. Renting clothes might not be the traditional way to go, but in this day and age it is the most modern way to stay in style without the hassle. ')}

Is AI Conceived To Be A Threat Or Convenience To The Fashion Industry?

A well established industry like fashion is still on the lookout for modernizing itself. AI is inherently changing the fashion industry at every level of the supply chain(design, manufacture, logistics, marketing or sales). AI is transforming and adding more value to the way apparels are manufactured or the way they are being sold. The global value of the fashion industry is amongst the largest, estimated at around 3 trillion dollars as of 2018 and with a market share of 4% globally. One of the major reasons for this is the individuality that buyers connect with, while purchasing clothes. As AI is helping the industry grow it is also raising a few challenges. In this blog we will understand the changes AI has brought and the challenges it has created.  

 

The convenience of AI: 

Fashion industry has to give weightage to demands and brand management as much as it gives to designing and manufacturing fashion products. Many brands are regularly finding innovative ways to get their products for buyers to see and create brand awareness to generate demand. Plenty of brands using AI and machine learning to increase their buyers’ shopping experience, refine the sale systems with automation, and grow the sales procedure with predictive analytics and guided process. Plenty of fashion sites are using AI like chat boxes and automated response to FAQ’s which are making the user experience better and helping them with post sale services. These conversational interfaces also help brands to collect data and understand patterns, trends and suggestions that help in upselling. The chat boxes are capable of solving small and generic problems providing customer satisfaction.        

AI is also helping the E-commerce fashion brands with the help of Augmented reality. The buyers can shop with smart image recognition system where they can take pictures of clothing and try on their virtual self. 

The constant changes in the designing of apparels are also making the most of AI. The designers and retailers have to keep in mind the upcoming trends and fashion waves to predict and design accordingly. They have to also be careful that while being in production the trend should not go out of style. This is where AI comes into play, it help manufacturers and designers to understand the seasonal trends and plan accordingly based on the data of purchases and searches. It is not always accurate as the sale can be dependant on many factors and can vary from the predicted numbers. However, it is estimated that with the help of AI the errors can be reduced up to 50%, in hindsight that are good odds for the designers and the manufacturers.    

 

The Challenges: 

As AI is making lives easy it has also raised a few new challenges for the industry to face. As for the designing field, it often includes the intricacies of the artistic works. The hand woven materials, embroidery and regional designs. With the dawn of AI, many brands are opting for machine made designed as they are affordable and require less manpower. As for big labels, they still opt for hand made designes and work so that the brand value increases. It catapults the prices and makes the product premium stating the amount of hours individuals have put in the product. Since it is not an economic option, it is not possible for common retail sellers to source their apparels from artisans. Hence, it is putting people out of jobs and somewhat compromising on the value of the art that had made it famous in the first place. In addition to that it is also increasing the prices as anything hand-made makes the product exotic in the global market. 

 

Conclusion:

It is crystal clear that in the future of fashion industry, AI will be involved for its advancements and machine learning technology. Manufacturers, designers and retailers will  leverage AI to uplift cost efficiency and give a better shopping experience to the shoppers. If implemented correctly AI does provide a competitive advantage by using every data at its disposal. There is a slight worry as where it is taking the art of designing and is it making it completely artificial by eliminating the human touch. We have to wait and observe.   ')}

Home Automation: Worth your time or not?

Are you still trying to figure what is home automation, is it worth your money, and is the system efficient enough for an easy installation? Don’t worry, we got you covered. This blog will help you understand the benefits of home automation and the challenges that may arise. 

 

Let’s start with the basic question; What is “Home Automation”?

It addresses to the automatic and electronic controls of your day-to-day household attributes, activities and electronic appliances. In layman’s terms, it means that you can simply control the utilities and features of your household online.  This is extremely convenient and safe. It might be hard to believe, but it can also help you save on bills.

The introduction of so many smart TV’s, smart refrigerators, smart air conditioners, smart lights and other small appliances reduces your work to a greater extent.    

 

How does it work?

Home automation is connecting your appliances, commands and interfaces that come together to function devices with one another through the internet. Every single electronic item is connected through WiFi, so it is easy to command them from your mobile devices. You can do this from anywhere, even if you are on the other side of the world. You can give simple commands like switching the lights and AC on or off, moving the curtains, changing the temperature of the heater and many others. Now with many AI devices like Alexa and Google Assistant, you can even give voice commands for all these actions. The AI devices have another plethora of features like answering general questions, playing songs, setting alarms and giving reminders. Home automation can also involve digital door locks with face and voice recognition, motion detectors, intruder alarms, fire alarms and other safety features. 

 

Benefits of Home Automation:

One of the most common benefits of home automation is convenience. The accessibility from around the world gives you all the controls in the palm of your hand. The concept of home automation has eased the worries of security too. Your home is more secure than ever, you can provide limited access and get instant alerts on any movement on your property, or in case of trespassers. The biggest benefits is savings. Bills reciprocate to the usage of the appliances, you can easily cut down on the usage as the appliances can automatically turn down when you leave the room. 

 

The Challenges:

The only cause of concern is the costing, installing and connecting all the devices is a heavy task. Along with that your devices should be compatible to the connectivity, in case you are using any older utilities, you have to update and upgrade. If you have a large family, too many users can also make it difficult and affect the functionality. 

 

Conclusion:

Home automation is a growing trend, it will soon become a household name too. The number of appliances and utilities for daily use is increasing and as everything is becoming smart, so should your home. You can start with an AI and then step ahead with the integration of smart devices. The only thing challenge is that it might draw some holes in your pocket and it requires regular updates. We recommend that home automation has more benefits and only one challenge. The AI and smart devices do come in price variants. You can start with a smaller device and as you get used to it, you can make the advancements in the usage.  ')}