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E-commerce Apparel Market

E-commerce Apparel Market: Information by Type (Women's Apparel, Men's Apparel), and Region — Forecast till 2030

Published At : 28 Jul, 2022
Updated At : 19 Sep, 2022
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Market Snapshot
Base Year:
2021
Study Period:
2020-2030
CAGR:
7.85 %
Fastest Growing Market:
Asia Pacific
Largest Market:
Europe

The Global e-commerce apparel market size was valued at USD 551.06 billion in 2021 and is predicted to reach USD 1087.88 billion by 2030, increasing at a CAGR of 7.85% from 2022 to 2030. E-commerce and e-marketplace concepts have had a major impact on the apparel sector. Shopping from the comfort of one's home is not only convenient but allows one to keep their favourite brands in one's wardrobe. Sales of clothing on e-commerce sites have exceeded expectations and outsold all other categories, including food and household goods. There has been a huge increase in Internet-driven purchasing and sales trends in B2C growth analysis studies from across the globe, particularly from India. Apparel and accessories are one of the top-earning categories in North America, Western Europe, and developed Asian countries, according to a recent survey. ' These countries have a larger global percentage of online goods customers, particularly in apparel fashion, than other regions.

Many times, this statistic outranks the likes of novels and video games in terms of popular appeal. According to these reports, the apparel fashion business in nations like India is experiencing a boom because of the presence of e-commerce portals. Demand from developed nations like Europe and North America, where apparel products are increasingly popular on e-commerce platforms, is one reason for the market's expansion in recent years. A rising number of working women, an increasing female population, and more spending power are all factors that have contributed to the increase in sales. Celebrities and social networking sites are also influencing manufacturers to regularly launch new designs and trends.

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Market Dynamics

Global E-commerce Apparel Market Drivers

  • Online Apparel Sales and Returns Are Both Benefiting from Technological Advancements

The online apparel market is being reshaped by new technology. Companies in the online clothing business are increasingly focusing on customization and prediction. Customers can use smart artificial intelligence (AI) algorithms to measure their closet clothes to help Virtusize, an online fashion expert, anticipate and personalize the proper size of clothing for them.

A growing number of people are seeking clothing that fits perfectly, particularly in the online clothes market. AI algorithms are being developed by IT companies in an effort to eliminate the ambiguity of clothing sizes for online customers. As a result, online clothing retailers are seeing a rise in sales and a drop in returns as a result of these developments.

Apps for smartphones now make it easier for internet shoppers to distinguish between various types of goods. Brands are using AI and data to better understand their customers' shopping habits and preferences. The proliferation of social media and quick fashion models like e-commerce platforms is also creating new opportunities for brands.

  • E-Acceptance Commerce's Among Consumers Is Rising Along with Urbanization and Disposable Money

The market is predicted to grow at a rapid rate due to shifting consumer spending habits, technological advancements, and an increase in urbanization. In addition, the rise of the internet and the adoption of smartphones are fueling the market's expansion. Growth in both middle-class populations and discretionary money are boosting market expansion. The worldwide e-commerce apparel business is predicted to grow as more people utilize the internet and smartphones.

E-commerce purchasing is gaining popularity since it allows customers to buy goods from the comfort of their own homes or places of business, which is fueling the market's expansion. As a result of increased internet penetration, buyers have found it quicker and more convenient to shop for clothing, which is likely to drive market expansion throughout the forecast period. In addition, e-commerce companies are offering substantial discounts and simple access to a large variety of products, which may save both time and money, boosting the market's growth.

Global E-commerce Apparel Market Restraints

  • Concerns Relating to The Safety of Online Transactions

The expansion of the apparel market may be hampered, however, by consumers' increasing demand for materials that are manufactured using environmentally friendly methods and are obtained in an ethical manner. In addition, the most significant drawback of conducting business online is the increased risk of being a victim of identity theft or credit card fraud. Every time a customer enters their credit card information into a website, they expose themselves to the possibility of identity theft and other risks associated to this type of crime. This represents a significant aspect that will operate as a barrier to the expansion of this market during the course of the anticipated term.

Global E-commerce Apparel Market Key Future Opportunities

  • ReCommerce And Sustainability Will Open Up New Opportunities

Since its inception, the online fashion sector has consistently demonstrated a high degree of adaptability, which contributes to the industry's current rapid expansion. Some of the markers of change include the development of new ideas, including reCommerce and sustainable practices. The practice of renting, reselling, or giving away previously owned clothing through thrift shops or traditional retail establishments is referred to as "reCommerce." As a result of the pandemic that has spread throughout the world, people are looking for cost-effective and environmentally friendly ways to own products. As more dialogues take place, the ideas of reCommerce and sustainability will flourish in the not-too-distant future, which will result in lots of new opportunities being made available.

Because of the development of more advanced AI and chances for personalization, it is practically difficult to forecast the growth trajectory that the eCommerce apparel industry is likely to take in the years to come.

Segment Overview of Global E-commerce Apparel Market

The Global E-commerce Apparel Market is divided into different segments according to the Type (Women's Apparel, Men's Apparel, Children's Apparel) and the Region or Geographies (North America, Europe, APAC, Latin America, MEA).

By Type, the Global E-commerce Apparel Market is divided into three segments which are Women's Apparel, Men's Apparel, and Children's Apparel. In 2021, the women's apparel type category generated the most sales, accounting for over 70% of total revenue. The increased demand for these commodities in industrialized countries such as the United Kingdom, Germany, and France is associated with this expansion. The increase in the number of working women, which leads to increased clothing expenditure, is likely to drive this segment's growth in the next years. The key drivers driving this segment's growth in the market include rising fashion consciousness, constantly changing trends, and a strong desire to follow current trends.

Due to rising demand from developing nations such as China and India, the men's apparel type segment is predicted to grow at a CAGR of 7.56 percent from 2022 to 2030. Upper wear, sportswear, lower wear, activewear, sleepwear, innerwear, and ethnic wear are all included in men's clothing. The increased fashion consciousness among millennials can be credited with the segment's growth. Furthermore, the growing global working population is propelling the expansion of the children's apparel market. In addition, the increased innovation and reasonable price of children's apparel are likely to drive segment growth throughout the projection period.

 By Region, the Global E-commerce Apparel Market is divided into five regional segments which are North America, Europe, Asia-Pacific (APAC), Latin America, and Middle East and Africa (MEA). Europe's e-commerce apparel revenue share was over 35% in 2021. This development is attributed to demand for women's clothing in the U.K., France, and Germany.

In Asia Pacific, the market is predicted to grow 8.86% from 2022 to 2030 because to rising demand in China, Japan, Malaysia, and India. High middle-class concentration and expanding internet penetration drive market growth in this region.

Regional Overview of Global E-commerce Apparel Market

The Global E-commerce Apparel Market is segmented by geography into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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In 2021, Europe held a dominant position in the global e-commerce apparel business, accounting for a revenue share of more than 35 percent. This expansion can be attributed to developed countries' steadily increasing demand for women's clothing, particularly in the United Kingdom, France, and Germany. Europe is typically the source of emerging fashion trends; this, combined with the widespread adoption of designer clothing, makes it a significant player in the global garment market. As a result, it is anticipated that the expansion of this market in this region will be driven by all of these factors. In addition, the continuously shifting lives and routines of customers are another factor that is propelling the expansion of the market over the period covered by the forecast.

The market in Asia Pacific is anticipated to record a significant compound annual growth rate of 8.86 percent from 2022 to 2030 as a result of the growing demand for these products in developing countries such as China, Japan, Malaysia, and India. This growth is expected to be driven by the region's expanding middle class. The significant rise in the proportion of people who have access to the internet, in conjunction with the region's already high concentration of people from middle-class backgrounds, is a key reason in the expansion of this business in this region. The expansion of this market is being fuelled in no small part by rising levels of discretionary spending, as well as by an expanding labour force in this region. In addition, manufacturers are working to offer a range of unique items aimed specifically at youthful customers. As a result of this, it is anticipated that demand would increase in the region's market.

Major Players in Global E-commerce Apparel Market

  1. com, Inc.
  2. Alibaba Group Holding Limited
  3. com
  4. Flipkart
  5. Walmart, Inc.
  6. The Home Depot, Inc.
  7. Shopify, Inc.
  8. com, Inc.
  9. Rakuten, Inc.
  10. B2W Digital
  11. Groupon, Inc.
  12. Best Buy Co., Inc.

Recent Developments

April 2022 - Walmart is offering Indian manufacturing and trading companies a chance to expand internationally as cross-border vendors on Walmart Marketplace. They may reach over 120 million U.S. customers each month. Walmart, Flipkart, and cross-border ecommerce company Payoneer recently held the Walmart Global Seller Summit at New Delhi. Walmart wants to source $10 billion from India by 2027.

March 2022 - With its share repurchase program increased to $25 billion, Alibaba Group Holding has seen an 11% increase in value, raising optimism that Beijing is lifting restrictions on the internet that have wiped away $470 billion in the e-commerce giant's value.

Global E-commerce Apparel Market: Segmentation

By Type

  • Women's Apparel
  • Men's Apparel
  • Children's Apparel

By Geography

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Latin America
  • Middle East and Africa (MEA)
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