Thriving e-commerce industry and increasing smartphone penetration in developing nations are acting as key growth drivers for global online apparel market.
According to TechSci Research report, “Global Online Apparel Retailing Market By Product Type (Upper Wear, Bottom Wear & Others), By End Use (Women, Men & Children), By Region, Forecast & Opportunities, 2025”, the online apparel retailing market is anticipated to witness a rapid growth during the forecast period on account of thriving e-commerce industry and growing number of online apparel brands around the world. Furthermore, online retailers are providing security features including online payments and online customer services which is acting as major growth driver for the market. Also, the outbreak of COVID-19 has forced consumers to go for online shopping and hence the global online apparel retailing market is poised to grow in the coming years. Apart from this, the availability of huge discounts on apparels and free home delivery on e-commerce sites are attracting new consumers around the world. Online apparel retailers are also providing several payment options such as credit cards, internet banking accounts, demand drafts and cash-on-delivery (COD). The emergence of mobile wallets like apple pay, google pay, Paytm, etc. are further helping in building consumer confidence in online retailing. Hence, the growing investment on technology and digital payment methods are expected to support the growth of global online apparel market in coming years.
Additionally, online apparel retails are coming up with large number of designs and fits according to customers of all age groups. Many apparel brands are also introducing their own websites to provide online shopping experience to the potential customers. With entry of new online apparel brands, the market is poised to experience rapid growth through 2025. Furthermore, increasing digitalization in developing economies like India and rising internet penetration are enabling customers hassle free online shopping experience.
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Global online apparel retailing market is segmented based on product type, end user and region. Based on product type, the market can be categorized into upper wear, bottom wear & others. Among them, the upper wear segment held the largest market share until 2019 and is further forecast to grow at the fastest CAGR until 2025. The reasons can be attributed to growing preference of consumers to follow the latest trends and small replacement cycle.
Based on end user, the global online apparel market can be segmented into women, men & children. Among them, the women segment is likely to undergo high CAGR in terms of revenue during the forecast period on account of increasing cosmopolitan culture, and exposure to new trends. Moreover, increasing population of working women and rise in purchasing power are making women the biggest customer group for online apparel retailing market.
Major players operating in the global online apparel retailing market are Alibaba Group, Amazon.com, JD.com, Rakuten, Walmart, American Apparel, Benetton,a Cotton On, Diesel, Dolce & Gabbana, DKNY, Giordano International, Levi Strauss, Ralph Lauren, Wovenplay and others. Leading companies are undertaking several growth strategies such as mergers & acquisitions, expansions & investments, partnerships, agreements and joint ventures in order to strengthen their position in global market.
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“Rise in internet penetration and increasing per capita disposable income in countries like China and India is expected to make Asia Pacific a lucrative market for online apparel retailers in coming years. Also, high population and popularity of latest fashion trends are making Asia Pacific the fastest growing market. With that, retailers are opting for marketing strategies like promotions and offering heavy discounts to form new consumer base,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Online Apparel Retailing Market By Product Type (Upper Wear, Bottom Wear & Others), By End Use (Women, Men & Children), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of online apparel market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global online apparel market.
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