by The U.S. fashion e-commerce market offers a wide range of clothing, footwear, and fashion accessories online. Customers can choose from various brands, designs, sizes, and styles conveniently on their mobile devices or desktops. The growing preference for online shopping due to advantages like doorstep delivery, ease of comparing products & prices, and round-the-clock accessibility has been a major driver of the market.
The global U.S. Fashion e-commerce market is estimated to be valued at US$ 108.1 Bn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Increasing mobile commerce adoption has been a key trend shaping the U.S. fashion e-commerce market. More than 50% of online fashion shopping in the country is now done via smartphones and tablets. Retailers have optimized their websites and apps for seamless mobile experience to capture this growing customer segment. Features like mobile exclusives, easy checkouts, and payment options are encouraging on-the-go browsing and purchases. The accessibility and convenience offered by mobile platforms is driving significant growth in the market. Retailers are investing in optimizing the mobile customer journey to gain more share of the lucrative fashion e-commerce market.
SWOT Analysis
Strength: The U.S. fashion e-commerce market benefits from high internet penetration and access to technology. Consumers are increasingly preferring online shopping for fashion and apparel due to convenience.
Weakness: The U.S. fashion ecommerce market faces fierce competition from established retailers and new entrants. Several small players face challenges in building brand awareness.
Opportunity: The market provides opportunities to tap into the growing millennial consumer base that is heavily influenced by digital and social media platforms. Trends around sustainable fashion present new growth avenues.
Threats: Changes in consumer preferences and global health crises pose risks. stringent privacy laws and data regulations increase compliance requirements.
Key Takeaways
The global U.S. Fashion Ecommerce Market Share is expected to witness high growth over the forecast period of 2023 to 2030 supported by a growing number of tech-savvy consumers and rising smartphone penetration in the country.
Regional analysis: The Western and Southern regions dominate the U.S. fashion ecommerce market currently. States like California, Texas and New York account for the highest online fashion and apparel sales currently owing to high disposable incomes and social media influence in these areas. The Midwest and Northeast regions are expected to be the fastest growing markets due to increasing internet access in rural areas.
Key players: Key players operating in the U.S. fashion ecommerce market are Johnson & Johnson Vision Care, Inc., ESSILORLUXOTTICA, CooperVision, Carl Zeiss AG, Bausch & Lomb Inc., Safilo Group S.p.A., Charmant Group, Chemilens (CHEMIGLAS Corp.), CIBA VISION, De Rigo Vision S.p.A., Fielmann AG, HOYA Corporation, JINS, Inc., Marchon Eyewear, Inc., Marcolin S.p.A, QSpex Technologies, Rodenstock GmbH, Seiko Optical Products Co., Ltd., Shamir Optical Industry Ltd., Silhouette International Schmied AG, Warby Parker, Zenni Optical, Inc. The market is highly competitive with new entrants focusing on personalized customer experiences to gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
