NEW
YORK, July 10, 2024 /PRNewswire/ -- The global
online apparel retailing market size is estimated to grow by
USD 278.8 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 15.2% during the forecast
period. Sustainability is increasingly pivotal in the global
online apparel retail market, as consumers prioritize eco-friendly
and ethically sourced products. Major players like Adidas AG and
ASOS Plc are integrating sustainable practices into their supply
chains, aiming to reduce carbon footprints and promote fair labor
practices. Despite challenges such as counterfeit products, the
market's robust growth, driven by digital payment systems and
mobile commerce trends, underscores the industry's shift towards
more environmentally conscious consumer choices. Alibaba Group
Holding Ltd., Amazon.com Inc., and JD.com Inc. are also leveraging
network marketing to expand their sustainable product
offerings.
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segments, customer landscape, and companies- View the
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Online Apparel
Retailing Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
15.2%
|
Market growth
2024-2028
|
USD 278.8
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
12.88
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 51%
|
Key
countries
|
US, China, Japan, UK,
and Germany
|
Key companies
profiled
|
Adidas AG, Alibaba
Group Holding Ltd., Amazon.com Inc., ASOS Plc, BANGGOOD TECHNOLOGY
Co. Ltd., Cotton On Group, Dolce and Gabbana S.r.l., Gildan
Activewear Inc., Giordano International Ltd., JD.com Inc., Kering
SA, Levi Strauss and Co., LVMH Group., M. H. Alshaya Co. WLL, OTB
Spa, Ralph Lauren Corp., SSENSE, Staples Inc., The Gap Inc., and
Walmart Inc.
|
Market Driver
The rise in mobile commerce is primarily driven by the growing
number of consumers purchasing new mobile devices and retailers
creating more shopping opportunities. Major players in the online
apparel retailing market, including Amazon.com, Flipkart, Alibaba
Group, and L'Oreal, have launched mobile applications in addition
to their websites. This trend is expected to continue as consumers
become more accustomed to shopping via mobile devices. Retail sales
through mobile devices, particularly for apparel, are projected to
increase significantly. To cater to this trend, most online
retailers have developed mobile versions of their shopping portals.
Key vendors like Amazon.com and eBay offer mobile applications
compatible with various operating systems, enabling seamless
shopping experiences for users. The increasing adoption of mobile
wallets is also expected to fuel market growth during the forecast
period.
The online apparel retail market is experiencing significant
growth with statistical data showing a steady increase in
e-commerce sales. Consumers value the convenience and accessibility
of shopping for clothes online via ecommerce platforms and mobile
shopping. Wide product selection, personalization, ease of returns,
and cost savings are key drivers. Social media influences
purchasing decisions, and sustainability and ethical shopping are
emerging trends. Global expansion, subscription services, free
shipping, and customer reviews also contribute to the market's
growth. Brands focus on consumer trust, reverse logistics, product
quality, and inventory management. Shipping costs, last-mile
delivery, and rising advertising costs are challenges. Changing
consumer trends, regulatory compliance, and market saturation are
factors to watch. Online retail services on the internet through
websites and mobile applications facilitate B2B and B2C sales of
apparel, clothes, accessories, and more, making online shopping an
authentic and convenient alternative to brick-and-mortar
stores.
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Market Challenges
- The online apparel retailing market faces several challenges.
Rent for physical locations and production costs are rising, making
it harder for fashion firms to maintain profitability. The
coronavirus epidemic forced many consumers to shop for essential
products online during the lockdown period. Retail therapy shifted
from physical stores to e-commerce platforms. However, challenges
remain, such as time-consuming processes like physical verification
and received product inspections. Fashion firms must adapt to
consumer buying habits and preferences using AI and machine
learning. American apparel production firms like INSPR offer
limited-edition collections and collaborate with influencers for
brand development and marketing services. E-commerce giants like
Draper focus on digital sales, specialty markets, and innovative
technology for automation and doorstep delivery. Microeconomic
factors like multinational offshored apparel production and
restocking facilities require complex data analysis using PORTER
analysis. Decision-makers must navigate these challenges with
simple language and innovative technology to stay competitive. The
market for jeans, sportswear, and protective clothing remains
strong, with consumers seeking essential products and fashion
decisions made online.
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challenges - Request a sample report!
Segment Overview
This online apparel retailing market report extensively covers
market segmentation by
- End-user
- 1.1 Men apparel
- 1.2 Women apparel
- 1.3 Children apparel
- Product
- 2.1 Upper wear apparel
- 2.2 Bottom wear apparel
- 2.3 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Men apparel- The men's apparel market is
witnessing a notable increase in sales due to the growing
acceptance of business casual attire in corporate settings. Men's
clothing, including hats, scarves, gloves, and a variety of tops,
bottoms, coats, jackets, suits, intimates, and sleepwear, is
becoming increasingly popular. Lifestyle shifts, a growing
cosmopolitan culture, and rising affluence are driving significant
changes in men's wardrobes. Fast-fashion brands are introducing
Western fashion trends to emerging markets, expanding the influence
of fashion into men's clothing. In the coming years, the luxury
apparel sector is projected to grow, particularly in developing
markets where opportunities for expansion remain. Although mature
markets will continue to contribute to market growth, the pace of
growth is anticipated to be more moderate.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The online apparel retail market is experiencing exponential
growth, driven by various factors. Statistical data shows that
ecommerce platforms have become the go-to destination for consumers
looking for clothes and accessories. Mobile shopping, with its
convenience and accessibility, is a major contributor to this
trend. Wide product selection, personalization, and ease of returns
are key advantages of online apparel retail. Consumers can save
costs by comparing prices and avoiding travel to physical stores.
Social media plays a significant role in marketing and promoting
online apparel sales. Sustainability and ethical shopping are
becoming increasingly important considerations for consumers.
Global expansion and subscription services are other emerging
trends in the online apparel market. With increased digitization,
internet access, smartphones, and digital literacy, online buying
of clothes and accessories is set to become the norm. Even luxury
brands like Finettchi are joining the bandwagon, offering their
collections online.
Market Research Overview
The online apparel retail market has seen significant growth in
recent years, driven by various factors. Statistical data shows
that ecommerce platforms have become increasingly popular for
clothing and accessory purchases, with mobile shopping accounting
for a large portion of these sales. Consumers value the wide
product selection, convenience, and ease of returns offered by
online retailers. Cost savings, personalization, and sustainability
are also key factors driving growth. Social media plays a
significant role in marketing and influencing fashion trends.
Ethical shopping and global expansion are also important trends.
Subscription services, free shipping, and customer reviews are
essential features that help build consumer trust. Reverse
logistics, product quality, and inventory management are critical
challenges for online apparel retailers. Shipping costs, last-mile
delivery, and rising advertising costs are other significant
issues. Changing consumer trends, regulatory compliance, and the
coronavirus epidemic have also impacted the market. The increasing
digitization and digital literacy, as well as internet access and
smart devices, have made online buying more accessible to people.
However, challenges such as physical verification, time-consuming
processes, and seller expenses persist. Artificial intelligence and
machine learning are being used by e-commerce giants to improve
fashion decisions, buying habits, and preferences. The market
includes various players, from luxury brands like Finettchi and
Gucci to production firms like American Apparel. The market is
expected to continue growing, but competition and changing consumer
trends will remain key challenges.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Men Apparel
- Women Apparel
- Children Apparel
- Product
-
- Upper Wear Apparel
- Bottom Wear Apparel
- Others
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio