July 02, 2020
According to the research report titled ‘Global Fashion E-Commerce Market: Analysis By Product Type, End User, By Region, By Country (2020 Edition): Market Insight, Competition and Forecast (2020-2025), global fashion e-commerce market was valued at USD 497.82 billion in the year 2019 and is anticipated to amass substantial revenues during 2020-2025.
Rising urban population with access to internet services, favorable government initiatives towards making internet available to people and rising smartphone penetration is driving the growth of global fashion e-commerce market. Furthermore, various e-commerce companies are making huge investments in expanding their regional presence, which in turn is contributing to the market growth during the forecast period.
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Based on the product type, the market is segmented into clothing, accessories and footwear. Among these the clothing segment is expected to account for highest market share in the forthcoming years, primarily due to rising adoption of online shopping platforms, changing consumer lifestyle and fashion preferences. Several e-commerce companies are constantly offering various products in order to enhance shopping experience through consumer-centric websites, which in turn is boosting the segmental growth.
Citing end-user landscape, both men and women segments are predicted to expand significantly during the forecast period. Rising working population, improving economic conditions and increasing expenditure on fashion and lifestyle products are favoring the market scenario.
In terms of the regional landscape, the market is divided into North America, Asia Pacific, Europe, MEA and South America. Asia Pacific market is expected to register remarkable growth in the ensuing years, followed by North America and Europe. High potential consumer base along with favorable government initiatives towards attracting foreign investments in major regional economies are stimulating the industry outlook in APAC. High concentration of leading ecommerce players coupled with rising demand for fashion products in countries such as Singapore, Indonesia, Thailand, India among others is also facilitating the business scenario in in the region.
The key players operating in the global fashion e-commerce market are Alibaba Group, JD.com, Walmart Inc., Rakuten Inc., Zara SA, American Apparel Inc., Amazon.com, and H&M among others.