Online Apparel Retailing Market Size to grow by USD 278.8 billion between 2024-2028
According to a research report “ Online Apparel Retailing Market” by 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)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 278.8 billion, at a CAGR of 15.2% during the forecast period. The online apparel retailing market has experienced significant growth due to the convenience and accessibility it offers. Consumers can now shop from a vast selection of merchandise, make payments through multiple options such as credit cards, cash-on-delivery, internet banking, demand drafts, and cash-on-order, and track their shipments in real-time. Furthermore, 24/7 customer support and payment gateways like PayPal ensure secure and hassle-free transactions. In developing countries, cash-on-delivery remains the preferred payment method due to consumer apprehension regarding online financial transactions.
Browse market data tables, figures, and in-depth TOC on “Online Apparel Retailing Market” by 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) Global Forecast to 2028. Download Free Sample
By End-user, the Men apparel segment is projected to dominate the market size in 2024
The global online apparel retailing market experiences significant growth, particularly in the upper wear segment. This segment, comprising shirts, t-shirts, coats, and jackets, holds a substantial market share due to its extended replacement cycle. Online retailing's increasing importance in the global fashion industry is driven by high Internet penetration and rising disposable income. Discounted prices significantly contribute to the segment's expansion, making it an alluring proposition for customers. Showrooming, a prevalent trend, influences the segment's growth, as consumers compare prices in physical stores before purchasing online at reduced rates. Acquiring new customers is a primary focus for businesses in this segment.
By Product, Upper wear apparel segment is expected to hold the largest market size for the year 2024
The men's segment in the online apparel retailing market is witnessing a notable growth trend, fueled by the increasing adoption of business casual attire in corporate environments. Apparel is increasingly becoming a staple in boardrooms, symbolizing power dressing for men. This segment comprises a diverse range of clothing items and accessories, including hats, scarves, gloves, tops, bottom wear, coats, jackets, suits, intimates, and sleepwear. Factors such as lifestyle shifts, a growing cosmopolitan culture, and rising affluence are driving significant changes in men's wardrobes. For instance, fast-fashion brands are penetrating emerging markets like China, India, Malaysia, Russia, Brazil, and Mexico, introducing Western fashion trends to these regions.
North America is forecasted to hold the largest market size by region in 2024
The online apparel retailing market represents a significant growth opportunity for businesses, with increasing consumer preference for convenience and flexibility in shopping. This sector's digital transformation is accelerating, driven by advancements in technology and changing consumer behavior. Retailers are leveraging e-commerce platforms, social media, and data analytics to enhance customer experience and boost sales. The market's size is projected to expand at a robust rate, driven by factors such as rising disposable income, growing internet penetration, and the popularity of mobile commerce.
The Online Apparel Retailing Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The online apparel retail market is experiencing rapid growth, with companies like Finettchi leading the charge for luxury brands in the ecommerce apparel sector. The convenience and accessibility of online buying, coupled with increased digital literacy and internet access, have made smart devices like smartphones the go-to tools for consumers to browse and purchase clothes, accessories, and more. Statistical data shows that the global expansion of online apparel retail is on the rise, with a diverse range of brands and subscription services catering to consumers' preferences for cost savings, ease of returns, and personalization. Ethical shopping and sustainability are also becoming important factors, with social media playing a significant role in driving awareness and sales. The wide product selection and mobile shopping capabilities of ecommerce platforms make it an attractive option for consumers, further fueling the growth of the online apparel retail market.
Market Research Overview
Decisionmakers in the apparel industry are heavily influenced by microeconomic factors when it comes to online apparel retailing. A Porter analysis reveals that e-commerce giants like Amazon and Alibaba dominate the market, utilizing digital technology, automation, restocking facilities, and doorstep delivery to attract consumers. Offshored apparel production and innovative technology, such as AI and machine learning, help multinational brands offer a diverse range of products, including protective clothing, sportswear, and limited-edition collections. However, complicated data and regulatory compliance can pose challenges. Preferences and buying habits are shifting towards online buying, especially during the coronavirus epidemic when physical locations are closed. Essential products, like jeans, remain popular, while luxury brands like Gucci and Finettchi expand their e-commerce presence. People's increased digital literacy and access to smart devices and the internet have fueled the growth of e-commerce apparel sales. B2C and B2B sales thrive on mobile applications and websites, offering convenience and accessibility. Consumer trust is built through authentic brand development, customer reviews, free shipping, and subscription services. Despite cost savings, challenges persist, including inventory management, product quality, reverse logistics, and consumer trust. The future of online apparel retailing will depend on ethical shopping, sustainability, and social media marketing. As the market becomes increasingly saturated, rising advertising costs and last-mile delivery and shipping expenses will continue to impact decision-making.
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