Dublin, April 18, 2023 (GLOBE NEWSWIRE) -- The "Fashion E-Commerce Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global fashion e-commerce market will grow from $744.4 billion in 2022 to $821.19 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The fashion e-commerce market is expected to grow to $1,222.32 billion in 2027 at a CAGR of 10.5%.
Major players in the fashion e-commerce market are Amazon, Flipkart, Alibaba, Snapdeal, eBay, Myntra, ShoClues, AliExpress, HomeShop18, and Jabong.
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The fashion ecommerce market includes revenues earned by entities by several online platforms and tools for trading fashion products. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Fashion ecommerce is the online buying and selling of clothing and accessories. Fashion goods include fashion accessories, clothes, shoes, bags, jewelry, cosmetics, and other luxury goods.
Asia Pacific was the largest region in the fashion e-commerce market in 2021. Western Europe was the second largest region in the fashion e-commerce market. The regions covered in the fashion e-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main products of fashion e-commerce are apparel and clothing, accessories, footwear, cosmetics, and other products. Accessories refer to items of equipment that are not usually essential, but which are used with or added to something else to make it more efficient, useful, or decorative. The different model types are business to business (B2B) and business to consumer (B2C). The various end-users involved are men, women, and children.
The increasing use of the internet and smartphones is expected to contribute to the expansion of the fashion e-commerce industry. According to the DataReportal, the number of smartphone users in 2020 reached 5.22 billion which was about 66% of the world's population. This has also led to an increase in the number of online shoppers. This scenario is anticipated to boost the demand for fashion and other e-commerce markets, generating higher revenue for the online fashion industry over the coming years.
Rules concerning website content and the safety of consumer information are predicted to limit the growth of the market. The rules and regulations for companies about the content of the website make it difficult for players to manage their business. A major concern is mandating the use of local languages on their websites, as in countries with more than one local official language, it results in a higher cost for the companies dealing with online retail. This scenario is projected to act as a restraint for the fashion e-commerce market.
Weakening brand trust and loyalty and high return rates are other major concerns for the growth of the fashion e-commerce market. The decline in brand loyalty can be due to several factors, including product quality, a lack of selection options, or better prices elsewhere. This, in turn, is a reason for the high return rates.
Technological innovations are a leading trend in the fashion e-commerce industry. Companies dealing in the market are adopting new technologies such as artificial intelligence (AI), barcode scanners, virtual reality outfits, and e-commerce automation tools that offer highly personalized and relevant consumer experiences. Moreover, many fashion companies are launching new apps to sell their products online in order to reach a large consumer base. For instance, in April 2022, The Folklore Group, a New York-based fashion e-commerce startup launched 'The Folklore Connect'. The new offering is a fashion B2B wholesale platform to connect brands in emerging markets to bulk retailers in North America and Europe.
In October 2022, V-mart, a Mumbai-based value retail chain, acquired LimeRoad for an undisclosed amount. The acquisition would combine expertise of both the companies and deliver trending fashion offerings to their consumers. LimeRoad is a Delhi-based online Fashion marketplace.
The countries covered in the fashion e-commerce market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $821.19 billion |
| Forecasted Market Value (USD) by 2027 | $1222.32 billion |
| Compound Annual Growth Rate | 10.5% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Fashion E-Commerce Market Characteristics
3. Fashion E-Commerce Market Trends And Strategies
4. Fashion E-Commerce Market - Macro Economic Scenario
4.1 COVID-19 Impact On Fashion E-Commerce Market
4.2 Ukraine-Russia War Impact On Fashion E-Commerce Market
4.3 Impact Of High Inflation On Fashion E-Commerce Market
5. Fashion E-Commerce Market Size And Growth
5.1. Global Fashion E-Commerce Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Fashion E-Commerce Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Fashion E-Commerce Market Segmentation
6.1. Global Fashion E-Commerce Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Apparel/Clothing
- Accessories
- Footwear
- Cosmetics
- Other Products
6.2. Global Fashion E-Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Men
- Women
- Children
6.3. Global Fashion E-Commerce Market, Segmentation By Model Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Business to Business (B2B)
- Business to Consumer (B2C)
7. Fashion E-Commerce Market Regional And Country Analysis
7.1. Global Fashion E-Commerce Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Fashion E-Commerce Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/1vutao
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