E-commerce Apparel Market size is expected to reach USD 14 trillion by the end of 2036 growing at a CAGR of 9% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of e-commerce apparel was over USD 2 trillion. Influencer marketing on social media is regarded as one of the best ways for e-commerce clothing manufacturers to expand their customer base, increase revenue, and raise brand recognition. Influencers expand the reach and exposure of e-commerce fashion firms and their items by promoting them to their sizable social media followings. Nearly 70% of marketers want to raise their expenditure for influencer-based marketing in the upcoming year, according to the most recent statistics released in April 2023.
The growth is also ascribed to shifting fashion trends, a rise in the proportion of working women, a rise in the number of women overall, and rising customer spending power. The growth of the market will also rise as a result of continuous product developments in the industry and improving living standards.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024 – 2036 |
|
CAGR |
~9% |
|
Base Year Market Size |
~USD 2 trillion |
|
Forecast Year Market Size |
~USD 14 trillion |
|
Regional Scope |
|
Type (Women’s Apparel, Men’s Apparel, Children Apparel)
In terms of type, the women’s apparel segment is predicted to account for 40% share of the e-commerce apparel market by the end of 2036. In terms of style, design, and color, women's clothing is more diverse than men's clothes which makes it easier for online shoppers to select from a wider range of options. In addition to traditional brick-and-mortar stores, e-commerce websites often offer more competitive prices for women's clothing than traditional brick and mortar stores, which can be an important factor in attracting customers. Social media platforms and influencer marketing campaigns, which can help create buzz and increase visibility for these products, are also strongly used to promote women's clothing. More important retailers and brands are present in the category of women's clothing, leading to further investment in this area.
Type (Women’s Apparel, Men’s Apparel, Children Apparel)
In terms of type, the men’s apparel segment is predicted to account for 30% share of the e-commerce apparel market by the end of 2036. Several brands focus on offering specialized men's clothing websites, given the increasing number of online consumers. Another factor that contributes to the growth of this segment is the continuing increase in men's luxury clothing choices. In February 2023, Giacca & Abito announced the launch of its online shopping portal for clothing, Tea & Tailoring, located in Kerala, India. Premium clothing solutions, especially for men, are the aim of the newly launched eShopping Apparel website.
Our in-depth analysis of the global market includes the following segments:
|
Type |
|
North American Market Forecasts
The market in the North America region is set to hold the highest market share of 35% by the end of 2036. Factors such as convenience, greater variety, and selection of products or competitive prices have led to strong growth in the North American e-commerce apparel market. In the United States, online shopping accounted for USD 1.7 trillion between 2020 and 2022, which represents a 55% increase in internet sales. The United States, followed by Canada, is considered to be the most significant contributor to the growth of the market, given the increasing number of online shoppers in the region.
APAC Market Statistics
The E-commerce Apparel market in the Asia Pacific region is set to grow significantly during the time period between 2024-2036. Given the growing demand for footwear and clothing in countries such as China, Japan, or India, growth can be attributed to e.g. online shopping apparel. In addition, an increase in the number of internet users is driven by the wide availability of 4G as well as the increased use of smartphones. In the Asia Pacific region, an increase in smartphone and mobile Internet subscriptions is expected to have a significant impact on demand for e-Toro platforms. Moreover, there has been an increase in the number of mobile internet users due to the growing adoption of smartphones and the wider availability of 4G networks. To meet the demand for e-commerce platforms in the Asia Pacific region, it is expected that there will be an important role played by increasing the number of cellular subscribers as well as internet users. For example, by the end of 2020, 1.22 billion people in China had subscribed to mobile services, according to the GSM Association's report for 2021.
Author Credits: Parul Atri
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?