Trend-first commerce market to reach $10 bn by 2028
The world of e-commerce has undergone a significant transformation in recent years, driven largely by the changing preferences and behaviors of consumers. One of the latest trends to emerge is trend-first commerce, which is expected to reach a staggering USD 10 billion by 2028. This phenomenon is characterized by consumers’ increasing preference for trendy products over loyalty to specific brands, fueled by social media and the desire for rapid product drops and sustainability.
The rise of Gen Z
At the heart of this trend is the Gen Z consumer, who is driving the shift towards trend-first commerce. Born between 1997 and 2012, Gen Z is a digitally native generation that is accustomed to instant gratification and has a keen eye for what’s new and trending. Unlike previous generations, Gen Z is more likely to prioritize trends over brand loyalty, and is willing to switch between brands and products in search of the latest must-haves.
Social media’s role
Social media platforms have played a significant role in the rise of trend-first commerce. With millions of users worldwide, social media has become a key channel for consumers to discover and engage with products. Influencers, in particular, have become a crucial component of the trend-first commerce ecosystem, as they use their platforms to showcase products and share their personal experiences with their followers.
Rapid product drops
One of the key characteristics of trend-first commerce is the rapid pace at which products are released and updated. Consumers expect new products and styles to be available constantly, and are willing to pay premium prices for the latest must-haves. This has created a challenging environment for brands, which must invest in agile and nimble supply chain operations to keep up with demand.
Sustainability
Another key factor driving trend-first commerce is the growing concern for sustainability. Consumers are increasingly aware of the environmental and social impact of their purchasing decisions, and are seeking out brands that prioritize sustainability and transparency. This has led to a surge in demand for eco-friendly products, and has forced brands to rethink their supply chain operations and product development strategies.
India’s demographic dividend
India’s demographics make it an attractive market for trend-first commerce. With a large base of young, value-conscious consumers who are active on social media, India is poised to benefit from the trend-first commerce boom. The country’s e-commerce market is already growing rapidly, driven by the increasing adoption of digital payments and the rise of online shopping.
Conclusion
The trend-first commerce market is expected to reach USD 10 billion by 2028, driven by Gen Z’s preference for trends over loyalty, and fueled by social media, consumers’ expectations for rapid product drops and sustainability. India’s demographics, with a large base of young, value-conscious consumers who are active on social media, position it perfectly for the trend-first commerce boom. As the trend-first commerce market continues to evolve, brands that are able to adapt to these changing preferences and behaviors will be well-positioned for success.
Source:
https://www.logisticsoutlook.com/logistics/trend-first-commerce-10-bn-2028
