Global Online Apparel Retailing Market, By Product Category (Upper Wear, Bottom Wear, and Others), By Product Type (Formal Wear, Casual Wear, Sports Wear, Night Wear, and Others), By Price Range (Low-Range, Mid-Range, and Premium Range), By End User (Men, Women, and Kids (Boys and Girls)), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2028.
The global Online Apparel Retailing market was valued at USD 601.7 Million and is expected to reach USD 2124.25 Million with a CAGR of 18.25% during the forecast period, 2022-2028. The increasing penetration of smartphones, the growing availability of a plethora of options, lower prices compared to physical stores, and shifting consumer preference towards branded products are the primary factors accelerating the growth of the global online apparel retailing market during the forecast period. Furthermore, the growing technological advancements, such as augmented reality, technology-enabled online trials of apparel, and enhanced customer experience with voice recognition, are also anticipated to propel the growth of the online apparel retailing market across the globe.
What is Online Apparel Retailing?
Online Apparel Retailing is a form of electronic commerce that allows apparel sales through the internet. It allows consumers to purchase apparel directly from a seller through the internet. Online apparel retailing companies showcase their products on their websites or through mobile apps and offer several advantages such as easy access to the market, the convenience of shopping from the comfort of homes or any other location and an increase in the reach of retailers from the local area to overseas over traditional brick-and-mortar platform.
Growth Driver
Increased penetration of the internet and rapid expansion of the e-commerce industry
The traditional marketing and management of the fast fashion industry are experiencing a revolution because of the emergence of e-commerce. With the help of e-commerce, businesses have been able to use the internet to reduce costs associated with purchasing, manage supplier relationships, streamline logistics and inventory, and develop strategic advantages and successful implementation of business re-engineering across the globe. Moreover, E-commerce allows companies to improve communications within the supply chain and enhance service offerings, resulting in the rapid expansion of e-commerce industries among various developed and developing economies across the globe. In addition, the growing penetration of the internet has revolutionized the retail industry by increasing the reach of retailers from the local area to overseas, allowing the business to reach the expediency of customers and increasing the cross-broader success. These are the prominent factors driving the growth of the global online apparel retailing market during the forecast period.
Furthermore, the internet is playing a major role in removing business limitations of the past. The growing adoption of advanced technologies and web applications with safe transaction assurance provides various opportunities for the growth of the global online apparel retailing market during the forecast period. In addition, increasing demand for enhanced customer experience with voice recognition and the growing popularity of augmented reality among retailers and major brands leads to increased investment by online retailers in Augmented Reality (AR) to provide an immersive experience to their customers, which is further expected to drive the growth of the global online apparel retailing market in the coming years.
Pre-Covid-19 impact on the global Online Apparel Retailing market
The easy access to the internet on account of the rise in the sales of smartphones, increasing use of debit cards for transactions and growing investment in logistics and warehouses have increased the growth of the global online apparel retailing market in the pre-COVID era. Furthermore, the continuous increase in the number of smartphone users and improving the population’s standard of living have also boosted the market’s growth. In addition, growing security features provided by online retailers, including online payments and online customer services, have also positively influenced the growth of the global online apparel retailing market. Furthermore, the growing availability of many designs and fits is propelling the growth of the global online apparel retailing market in the pre- COVID era.
Covid-19 impact on the global Online Apparel Retailing market
The COVID-19 pandemic has significantly hit the global Online Apparel Retailing industry market in 2021 across the globe. The pandemic has severely affected every business segment due to various government norms such as nationwide lockdown and complete shutdown of manufacturing facilities across the globe. The interruption in the supply chain of products and goods and the non-availability of the workforce have halted the various industrial processes in developing and developed countries, significantly impacting the growth of the Online Apparel Retailing market. However, the closedown of physical apparel stores has led consumers to switch to the online channel to purchase various types of clothing. Strict restrictions to stay at home to contain the spread of the virus led individuals to browse online stores to purchase everyday needs, including apparel, which is further expected to drive the growth of the global online apparel retailing market in the coming years.
Post Covid-19 impact on the global Online Apparel Retailing market
The rapid economic growth, growing urbanization, and increasing consumer disposable income have significantly increased consumer spending on apparel and accessories across the globe. This rapid increase in the number of smartphones and the growth of the e-commerce industry is anticipated to drive the growth of the global online apparel retailing market during the forecast period. Furthermore, the continuous evolution of new technologies such as Artificial Intelligence (AI), Chatbot, and Machine Learning is helping e-retailers to understand customer demand and leverage these technologies by making smart product recommendations and personalized guidelines. These are the prominent factors accelerating the growth of the global apparel retailing market during the forecast period.
Product Category Segmental Analysis
Based on the Product Category, the global Online Apparel Retailing market is categorized into Upper Wear, Bottom Wear, and Others. The Upper Wear segment is expected to have the largest share in the global Online Apparel Retailing market in 2021 and is expected to continue this trend during the forecast period. This growth is attributable to the growing availability of upper wear products, such as shirts, tops, t-shirts, and other products. In addition, various online websites offer various designs such as polos, ruffles and frills, wraps, asymmetric, tanks, and crops, among others, are anticipated to propel the segment’s growth in the market. Furthermore, the bottom wear segment is expected to witness significant growth in the global online apparel retailing market during the forecast period.
Price Range Segmental Analysis
Based on the Price Range, the global Online Apparel Retailing market is segregated into Low-Range, Mid-Range, and Premium Range. The mid-range segment is expected to hold the highest market share in the global online apparel retailing market in 2021. This growth is attributable to the increasing availability of mid-range apparel and the increasing offering of mid-range apparel by various leading clothing brands to attract a large consumer base among developing countries like China, India, Indonesia, and Malaysia. Furthermore, the premium-range segment is expected to witness significant growth in the global online apparel retailing market during the forecast period. The increasing demand for premium clothes among various developed countries such as the US, and a growing number of millennials and their shifting inclination towards premium brands are expected to drive the growth of the premium-range segment among various developing countries such as India and China.
End-User Segmental Analysis
Based on the End User, the global Online Apparel Retailing market is segregated into Men, Women, and Kids (Boys and Girls). The Women segment is expected to have a significant market share during the forecast period. The growing female population, increasing number of working women, evolving fashion trends, and rising consumer spending power are some prominent factors driving the growth of the women’s segment in the global online apparel retailing market during the forecast period. Furthermore, growing social media influence and the continuous introduction of new designs and styles are also anticipated to fuel the growth of the product market. The improved ratio of women to men and an increasing number of working for female populations positively impact the market. According to World Bank data, women comprise around 39% of the workforce across the world. This rising number of working women will be expected to drive the growth of the global online apparel market during the forecasted period.
Region Segmental Analysis
The Online Apparel Retailing market is characterized by North America, Europe, Asia Pacific, South America, and Middle East & Africa. The North American region is expected to dominate the Online Apparel Retailing Market and continue this growth rate during the forecast period, 2022-2028. This growth is attributable to the growing presence of various leading clothing brands, increasing investments in Canadian apparel manufacturing firms toward niche markets, designing and producing high-end clothing, and specialty and high R&D garments, including performance apparel, such as sportswear and protective clothing. Furthermore, the Asia Pacific region is expected to witness significant growth in the global online apparel retailing market during the forecast period. This growth is attributable to the growing population, rapid urbanization, increasing consumer disposable income, mobile internet usage and changing lifestyles.
Competitor Analysis
Companies include Alibaba Group, Amazon.com, American Apparel Inc., Benetton Group Srl. Giordano International Limited, JD.com, Walmart Inc., The Gap, EBay Inc., and Myntra are the key players in the Online Apparel Retailing market.
Key Stakeholders
Market research and consulting firms
Industry associations
Global Online Apparel Retailing manufacturing firm
Local Governments
Regulatory bodies
Suppliers
Retailers
Recent Developments
In April 2022, Walmart launched Cue the Circular Connector, which has been designed as an online tool to bridge the gap between companies searching for more sustainable packaging ideas and those that offer them. The Circular Connector is now available on WalmartSustainabilityHub.com for all packaging companies interested in submitting sustainable packaging solutions.
In March 2022, The Japanese franchise partner of Giordano International Limited has added two new online platforms to its online sales network, with its products now available to the Japanese public through the OIOI Web Channel and EGOIST multi-brand channel on ZOZOTOWN.
Scope of the Report
Report Attribute
Details
Revenue in 2021
USD 601.7 Million
The revenue forecast in 2028
USD 2124.25 Million
Growth Rate
18.25%
Historical data
2017 – 2020
Base Year
2021
Forecast period
2022 – 2028
Region covered
America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled
Alibaba Group, Amazon.com, American Apparel Inc., Benetton Group Srl.
Giordano International Limited, JD.com, Walmart Inc., The Gap, EBay Inc.,
Myntra., and other prominent players
Online Apparel Retailing is a form of electronic commerce that allows apparel sales through the internet. It allows consumers to purchase apparel directly from a seller through the internet.
The global Online Apparel Retailing market was valued at USD 601.7 Million and is expected to reach USD 2124.25 Million with a CAGR of 18.25% during the forecast period, 2022-2028.
The increasing penetration of smartphones, the growing availability of a plethora of options, lower prices compared to physical stores, and shifting consumer preference towards branded products are the primary factors accelerating the growth of the global online apparel retailing market during the forecast period.
The North American region is expected to dominate the Online Apparel Retailing Market and continue this growth rate during the forecast period, 2022-2028.
Alibaba Group, Amazon.com, American Apparel Inc., Benetton Group Srl. Giordano International Limited, JD.com, Walmart Inc., The Gap, EBay Inc., and Myntra are the key players in the Online Apparel Retailing market.
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