The global online apparel and footwear market is estimated to reach US$679 billion in 2023, growing at a CAGR of 10.29% for the period spanning 2018-2023. The growth of the market has been driven by increasing internet access, increasing disposable income, rising youth population, growing smartphone penetration, rising fashion preference, and changing lifestyle. However, growth of the market would be challenged by quality issues, additional charges and digital payment failures. Some of the noteworthy trends of the market include personalization, budding voice commerce, brick and mortar expansion of digitally native brands and technological innovations.
The global online apparel and footwear market can be segmented into two broad segments: Apparel and Footwear. In 2018, apparel was the dominant segment because of the driving factors such as rapidly changing fashion, increasing affluence of western culture and growing internet penetration.
The fastest growing regional market is the U.S. due to rapidly altering fashion, low price points, customized products and speed of delivery. China represents one of the largest online apparel and footwear market and is already well-penetrated at developed market levels. Europe is an emerging market where growth lies in increasing use of digital payment systems, huge customer base, and availability of a broad range of products and brands and investment in marketing and promotional activities.
Scope of the Report:
• The report provides a comprehensive analysis of the global online apparel and footwear market, segmented into Apparel and Footwear segments.
• The major regional and country markets (U.S., Europe and China) have been analyzed, along with specific focus on the European countries (Germany, UK, France, Italy and Spain).
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Amazon.com, Inc., ASOS Plc., Zalando SE, Boohoo Group Plc, NIKE Inc., and Adidas) are also presented in detail.
Key Target Audience:
• Apparel and Footwear Manufacturers
• Apparel and Footwear Distributors/Wholesalers
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities.