Global Online Fashion Retail
Market Report
2024
As per Cognitive Market Research's latest published report, the Global Online Fashion Retail market size was $771.90 Billion in 2022 and it is forecasted to reach $2,755.17 Billion by 2030. Online Fashion Retail Industry's Compound Annual Growth Rate will be 17.37% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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As per Cognitive Market Research's latest published report, the Global Online Fashion Retail market size was $771.90 Billion in 2022 and it is forecasted to reach $2,755.17 Billion by 2030. Online Fashion Retail Industry's Compound Annual Growth Rate will be 17.37% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Online Fashion Retail Market Sales Revenue 2022 | $ 771.9 Billion |
Global Online Fashion Retail Market Sales Revenue 2030 | $ 2 Billion |
Global Online Fashion Retail Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 17.37% |
Market Split by Product Type |
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Market Split by End Use |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Online Fashion Retail industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Online Fashion Retail Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
In the past decade, increasing usage of the internet has given new momentum to the online fashion retail market. Rising demand for designer dresses with different patterns and styles followed by a continuous shift of shoppers in the fashion sense has fuelled market growth in recent years. In addition, factors such as the growing number of fashion brands on online platforms coupled with increasing living standards and disposable income are boosting the online fashion market growth.
Social media such as Facebook, and Instagram are various forms of audio, video, text, and images that most of the population is using to find, connect, and share inspiration across the globe. In the fashion industry, the people who are owing several social media platforms are considered fashion influencers and trendsetters who bring up millions of customers for brands by posting their channel which led to driving the market growth during the forecast period.
Technological advancement has become the center of life. Most devices such as smartwatches, and mobile phones with multiple accessibilities merge with digital networks. Technologies such as blockchain, and artificial intelligence have pushed online fashion businesses to be more user-friendly which can help customer to fulfill their needs. E-commerce retail platforms which are using several technologies would be able to surge their competitive advantage towards better customer experiences and customizing the products as per their requirements.
Artificial Intelligence (AI) is becoming the most popular technology in the online fashion retail industry. AI has the ability to change vast and diverse data into valuable data which helps to exceed cost, speed, and time. Furthermore, Augmented Reality (AR) technology also plays a vital role which provides a real-time view and also magnified computer-generated information.
Many customers want to feel and touch the product in order to identify product quality. Thus, most of the customers prefer to purchase from window shops to touch-feel-try the products which may lead to hinder the market growth to some extent. In addition, the products shown in the pictures are sometimes misleading. The size, colour, and appearance are not images with electronic images. In addition, many people prefer to visit physical stores for examining the product though it consumes time. Further, the online payment mode is not much safe while doing payment transactions. Therefore, retailers and e-marketers are paying attention to finding out a solution to this issue.
However, the emergence of new technologies, good discounts, availability of different brands, time-saving processes, a wide range of products, and safer payment transactions are expected to surge the market growth during the forecast period.
Increasing penetration of smartphones and the emergence of new technologies followed by the development of different applications have gained traction in the online fashion retail market. Solutions like Mobile body scanning technology are having a lucrative impact on the online fashion retail market size and shape. In addition, a solution like Mobile Tailor which allows customers to take body measurements remotely and contactless by using just two photos of them enables businesses to expand their reach. Furthermore, YourFit solution also helps shoppers to find out matching online shoppers in order to overcome size issues. Thus, the development of new applications in the fashion world is projected to expand the market growth in the future.
The outbreak of Covid-19 has significant impact on the global fashion retail market. As governments of several nations announced lockdown and social distancing regulations, the market has faced several damages during the Covid-19 pandemic. However, there are some positive impacts such as the emergence of new technologies i.e. ewallet, 360-degree videos, three-dimensional product view, and trying on clothes with augmented reality has gained traction during a pandemic. The online fashion market has gained traction among young consumers during the outbreak of COVID-19. UK-based eCommerce company BooHoo has reported that during the lockdown their sales has increased by 45% in May 2020.
As the online fashion retail industry is growing, fashion businesses need to adapt to changing circumstances. Due to the high competition in the sector, online fashion businesses have to implement new intelligent solutions which are going to recommend the right product to the right customer in real time.
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June 2022
Aditya Birla has announced the new entity TMRW which aids the company to launch and backing new-age digital ventures. This venture has created India’s largest portfolio of disruptor brands in the fashion and lifestyle industry along with direct-to-consumer (D2C) growth in India which is expected to poise USD 100 Billion by 2025.
March 2022
Walmart has launched a virtual try-on tool by using machine learning technology that helps customers to see how dresses, shirts, jeans, and other clothing are looking on their bodies. In this solution, shoppers can use their own images or models that help to provide a more realistic sense of the product is how it is actually draped.
June 2020
Walmart Inc. has done a partnership with e-commerce leader Shopify Inc. for expanding third-party marketplace sites and also grabbing more of the pandemic fuelled surge in online shopping.
Top Companies Market Share in Online Fashion Retail Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
In 2022, Europe has gained the largest market share of 45.87% in terms of revenue due to increase spending on luxury and fashionable clothing across Germany, France, and U.K. In addition, the rising demand for different styles, patterns, and brands among women is another factor that is driving the online fashion retail market growth in Europe. Further, growing disposable income and willingness to buy accessories, footwear, and clothing among customers has strengthened the market growth in this region.
Asia Pacific is expected to have strong growth during the forecast period. The increasing number of smartphone users coupled with rising internet penetration in emerging economies such as China and India are major factors to drive the online fashion market growth in the Asia Pacific region. In addition, growth in living standards, availability of a wide product range, busy lifestyle and lack of time for window shopping, and rising disposable income along with secure payment options is projected to surge the market growth in this region during the forecast period.
The current report Scope analyzes Online Fashion Retail Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Online Fashion Retail Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Online Fashion Retail Industry growth. Online Fashion Retail market has been segmented with the help of its Product Type, End Use , and others. Online Fashion Retail market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The presence of different brands, styles, and patterns are the major factors driving the segment growth. Online shopping saves time and it also avoids the pressure of sales representatives who enforced customers to buy products in physical stores. It also helps to save money, as e-retailors and marketers offer discounts and coupons. In addition, the company displays its whole range on a single platform which helps customers to choose brand, pattern, size, and price range with a single touch. In addition, fast delivery and easy returns are other factors gaining momentum for market growth. Thus, several advantages of online shopping platforms have fuelled the clothing segment growth in recent years.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Online Fashion Retail Industry. Request a Free Sample PDF!
The increasing number of working women and their spending capacity on apparel is the major factor to drive the online fashion retail market growth. In addition, market players are focusing on coming up with new patterns and styles to influence women which are reshaping the market growth. For example, in December 2022, fashion start-up Stumble served more than 10,000 young women followed by 20% repeat customers.
The men’s segment is anticipated to witness significant growth during the forecast period, from 2023 to 2030. In the last few years, men are becoming more conscious of current fashion trends and also getting more interested in their overall appearance and looks which is expected to upsurge the segment growth in the online fashion retail market in the upcoming years.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Senior Analyst at Cognitive Market Research
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building.
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building. I fulfill data requirements with thorough research and analytics. ME and My research team provide intelligence on industry stats, market structure, company profiles/Competition Analysis, Forecast Mapping, and Recently started providing the COVID-19 Impact Analysis.
Specialties: Industry research, Company analysis, Location Strategy, Tech Research, Change Management, Process Improvement, Peer Group Benchmarking, Startup Ecosystem, Crypto Research, COVID19 Impact Analysis, etc.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Online Fashion Retail Market is witnessing significant growth in the near future.
In 2023, the Clothing segment accounted for noticeable share of global Online Fashion Retail Market and is projected to experience significant growth in the near future.
The Men segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Costco, Eastern Mountain Sports and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
https://www.epa.gov/regulatory-information-sector/construction-sector-naics-23
https://www.usace.army.mil/Missions/Civil-Works/Engineering-and-Construction/
https://www.abs.gov.au/statistics/industry/building-and-construction
https://business.gov.au/planning/industry-information/construction-industry
https://www.usitc.gov/research_and_analysis/tradeshifts/2021/footwear
Disclaimer:
Product Type | Clothing, Footwear, Jewellery, Cosmetics, Accessories |
End Use | Men, Women, Children |
List of Competitors | Costco, Ideel, Eastern Mountain Sports, Backcountry.com, ATG Stores.com, Gap, CustomInk, IKEA, L Brands, Amazon, Macy's, Walmart, Academy Sports + Outdoors, Factory Green, Best Buy, J.C. Penney, Others |
This chapter will help you gain GLOBAL Market Analysis of Online Fashion Retail. Further deep in this chapter, you will be able to review Global Online Fashion Retail Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by End Use Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Online Fashion Retail market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Clothing have a significant impact on Online Fashion Retail market? |
What are the key factors affecting the Clothing and Footwear of Online Fashion Retail Market? |
What is the CAGR/Growth Rate of Men during the forecast period? |
By type, which segment accounted for largest share of the global Online Fashion Retail Market? |
Which region is expected to dominate the global Online Fashion Retail Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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