The global US Fashion Ecommerce Market is estimated to be valued at US$ 248.07 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The US fashion ecommerce market offers a wide variety of clothing, footwear, and accessories products from various brands at competitive prices. Consumers can choose from a range of styles, designs, sizes, and price points online as per their convenience and preferences. The availability of user-friendly interfaces and payment options has further boosted the adoption of online shopping in the fashion industry.
Market key trends:
The rising popularity of social media and online shopping reviews has a significant impact on purchase decisions of consumers. Many fashion retailers actively engage customers on social media platforms by sharing new product launches, offers, polls, and feedback surveys. This helps build consumer trust and brand loyalty while tapping into new target segments. Additionally, social commerce has emerged as an important sales channel, enabling consumers to directly purchase tagged products showcased on Instagram and Facebook.
Segment Analysis:
The US fashion ecommerce market is dominated by the apparel and accessories segment. Apparel such as tops, pants, dresses, and skirts account for majority share due to rising demand for trendy and fashionable clothing. Accessories such as handbags, eyewear, jewelry, watches etc further bolster the segment size. Consumers preference for new arrivals coupled with affordable pricing of fast fashion has led to increasing popularity of apparel and accessories segment over the forecast period.
Key Takeaways:
The US Fashion Ecommerce Market Demand is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing preference of consumers towards online shopping channels for fashion products.
Regional analysis:
Regionally, Western and Southwestern US account for the largest share in the US fashion ecommerce market due to high urbanization and high spending capacity of consumers in these regions. Moreover, high penetration of internet and smartphones have further propelled the market growth in these regions.
Key players:
Key players operating in the US fashion ecommerce market are Amazon, Walmart, Ebay, Macys, Gap, Nike, Target, Nordstrom, JCPenney, Kohls, Wayfair, Best Buy, Home Depot, Sephora, Ulta Beauty, Forever 21, H&M, Zara, Urban Outfitters, ASOS. Amazon leads the market owing to its widespread product portfolio and robust distribution network across the country.
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