by The Global Fashion E-commerce market has witnessed significant growth in the past decade enabled by rising adoption of smartphones and proliferation of internet and web services globally. Fashion ecommerce platforms offer consumers a wide variety of apparel, footwear and accessories products from leading brands at affordable prices and the convenience of shopping from home. Product customization and personalized styling features offered by some major players have further boosted consumer engagement on their platforms.
The global Fashion E-commerce Market was valued at at US$ 1,626.97 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023-2030, as highlighted in a new report published by CoherentMI.
Market Key Trends:
The growing popularity of social media platforms and influencer marketing has been a major driver of the online fashion industry. Many leading fashion ecommerce players have integrated social features that allow users to share products with friends and follow favorite brands and influencers. Increase in live streaming sales and video commerce has also gained traction on platforms such as SHEIN and Instagram. Adoption of AI and machine learning tools for functions like product recommendations, personalized styling, size and fit prediction are enhancing customer experience and boosting repurchases on major fashion ecommerce sites. Advancements in warehousing, logistics and last mile delivery have enabled one day and same day deliveries even in remote areas thus supporting the continued growth of the online fashion market.
Global Fashion Ecommerce Market Segmentation
By Business Model
Business to Consumer (B2C)
Business to Business (B2B)
Consumer to Consumer (C2C)
Business to Administration (B2A)
Consumer to Business (C2B)
Business to Employees (B2E)
By Product Type
Apparel
Accessories
Footwear
Beauty and Personal Care
Others (home furnishings, jewelry etc.)
By End User
Men
Women
Kids
Unisex
By Price Range
Premium
Mid
Low
Economy
By Device Used
Mobile
Desktop
Tablet
Others
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Porter’s Analysis
Threat of New Entrants: The threat of new entrants in the global fashion ecommerce market is moderate given the large market size and requirement of significant investment in logistics and technology.
Bargaining Power of Buyers: The bargaining power of buyers is high in the global fashion ecommerce market due to availability of wide range of products from various online retailers.
Bargaining Power of Suppliers: The bargaining power of suppliers is moderate given the presence of large number of retailers and brands providing fashion products to online retailers.
Threat of New Substitutes: The threat of new substitutes is moderate as offline fashion retail stores provide substitute but ecommerce offers convenience.
Competitive Rivalry: The competitive rivalry is intense among major players due to pricing, product quality and brand promotions.
Key Takeaways
The global Fashion Ecommerce Market Size is expected to witness high growth at a CAGR of 13% during the forecast period of 2023-2030. The market size is expected to reach US$ 1,626.97 Bn by 2023.
Regional Analysis: Asia Pacific region dominates the global fashion ecommerce market with India and China being the fastest growing markets. Large customer base, increasing internet and smartphone penetration along with growing fashion consciousness is fueling market growth in the region.
Key Players: Key players operating in the global fashion ecommerce market are Amazon, Flipkart, Myntra, Snapdeal, Paytm Mall, Shopclues, Jabong, Ajio, Nykaa, Limeroad, SHEIN, and ROMWE. Amazon and Flipkart dominate the Indian fashion ecommerce market while SHEIN and ROMWE are among the fast growing global players. These players compete on pricing, fashion trends, product quality and packaging to attract more customers.
Reasons to Purchase Fashion Ecommerce Market Report:
1. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
2. Develop/modify business expansion plans by using substantial growth offerings in developed and emerging markets.
3. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Fashion Ecommerce Market.
FAQ’s
Q.1 What will the market development pace of the Fashion Ecommerce Market?
Q.2 What are the sales, revenue, and price analysis of the top players of the Fashion Ecommerce Market?
Q.3 What are the market opportunities and threats faced by the vendors in the Fashion Ecommerce Market?
*Note:
1. Source: CoherentMI, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
