North American Market Forecasts
North America industry is likely to hold largest revenue share of 35% by 2037. 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 2025-2037. 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
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