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E-commerce and Online Fashion Retail: Trends and Challenges

Description: E-commerce and Online Fashion Retail: Trends and Challenges
Number of Questions: 14
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Tags: e-commerce online fashion retail trends challenges
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What is the primary driver of growth in the e-commerce fashion industry?

  1. Increasing internet penetration

  2. Growing disposable income

  3. Changing consumer preferences

  4. All of the above


Correct Option: D
Explanation:

The growth of e-commerce fashion is driven by a combination of factors, including increasing internet penetration, growing disposable income, and changing consumer preferences.

Which of the following is NOT a major challenge faced by online fashion retailers?

  1. Product returns

  2. Counterfeit goods

  3. Shipping costs

  4. Lack of customer trust


Correct Option: D
Explanation:

While product returns, counterfeit goods, and shipping costs are all challenges faced by online fashion retailers, lack of customer trust is not a major concern.

What is the most popular payment method used in online fashion retail?

  1. Credit/debit cards

  2. Cash on delivery

  3. Net banking

  4. Digital wallets


Correct Option: A
Explanation:

Credit/debit cards are the most popular payment method used in online fashion retail, followed by cash on delivery, net banking, and digital wallets.

Which of the following is NOT a key trend in the e-commerce fashion industry?

  1. Personalization

  2. Augmented reality

  3. Social commerce

  4. Voice commerce


Correct Option: D
Explanation:

While personalization, augmented reality, and social commerce are all key trends in the e-commerce fashion industry, voice commerce is not yet a major trend.

What is the average conversion rate for online fashion retailers?

  1. 1-2%

  2. 2-3%

  3. 3-4%

  4. 4-5%


Correct Option: B
Explanation:

The average conversion rate for online fashion retailers is typically between 2-3%.

Which of the following is NOT a major player in the online fashion retail market in India?

  1. Myntra

  2. Flipkart

  3. Amazon

  4. Reliance Jio


Correct Option: D
Explanation:

While Myntra, Flipkart, and Amazon are all major players in the online fashion retail market in India, Reliance Jio is not a major player in this market.

What is the estimated size of the online fashion retail market in India in 2023?

  1. $10 billion

  2. $20 billion

  3. $30 billion

  4. $40 billion


Correct Option: C
Explanation:

The estimated size of the online fashion retail market in India in 2023 is $30 billion.

Which of the following is NOT a major challenge faced by online fashion retailers in India?

  1. Lack of infrastructure

  2. High cost of logistics

  3. Counterfeit goods

  4. Lack of customer trust


Correct Option: D
Explanation:

While lack of infrastructure, high cost of logistics, and counterfeit goods are all major challenges faced by online fashion retailers in India, lack of customer trust is not a major concern.

What is the most popular category of fashion products sold online in India?

  1. Clothing

  2. Footwear

  3. Accessories

  4. Beauty products


Correct Option: A
Explanation:

Clothing is the most popular category of fashion products sold online in India, followed by footwear, accessories, and beauty products.

Which of the following is NOT a key strategy used by online fashion retailers to attract and retain customers?

  1. Offering discounts and promotions

  2. Providing free shipping

  3. Offering a wide range of products

  4. Providing excellent customer service


Correct Option: C
Explanation:

While offering discounts and promotions, providing free shipping, and providing excellent customer service are all key strategies used by online fashion retailers to attract and retain customers, offering a wide range of products is not a key strategy.

What is the average delivery time for online fashion orders in India?

  1. 1-2 days

  2. 2-3 days

  3. 3-4 days

  4. 4-5 days


Correct Option: B
Explanation:

The average delivery time for online fashion orders in India is typically between 2-3 days.

Which of the following is NOT a major trend in the online fashion retail market in India?

  1. Growth of social commerce

  2. Increasing adoption of mobile shopping

  3. Growing popularity of voice commerce

  4. Increasing demand for sustainable fashion


Correct Option: C
Explanation:

While growth of social commerce, increasing adoption of mobile shopping, and increasing demand for sustainable fashion are all major trends in the online fashion retail market in India, growing popularity of voice commerce is not yet a major trend.

What is the estimated growth rate of the online fashion retail market in India in the next five years?

  1. 10-15%

  2. 15-20%

  3. 20-25%

  4. 25-30%


Correct Option: C
Explanation:

The estimated growth rate of the online fashion retail market in India in the next five years is 20-25%.

Which of the following is NOT a major challenge faced by online fashion retailers in India in the future?

  1. Increasing competition

  2. Changing consumer preferences

  3. Rising costs

  4. Lack of government support


Correct Option: D
Explanation:

While increasing competition, changing consumer preferences, and rising costs are all major challenges faced by online fashion retailers in India in the future, lack of government support is not a major challenge.

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