Summary - A new market study, titled “Global Online Apparel Retailing Market – By Type, Component, Industry, Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2018 - 2026)” has been featured on WiseGuyReports.
The global online apparel retailing market is one of the most rapidly growing businesses in present times. The market has its foundation on providing clothing and accessories for men, women and children. The availability of huge discounts and free home delivery through this medium has attracted numerous customers that prefer convenience. However, players in this market need to keep innovating to retain customers and expand their businesses. The global online apparel retailing market was approximately valued at 326.17 billion USD in 2018 and is expected to reach 647.03 billion USD by 2025 at a CAGR of 10.28% during the forecast period.
Growth by Region
Asia-Pacific region will be the fastest growing market during the forecasted period followed by MEA. China and India are to be the major focus of the industry players with rise in Internet penetration and development in infrastructure contributing to the immense potential.
Drivers vs. Constraints
The global online apparel retailing market caters to B2B and B2C market, with higher prospects for the latter.The global sales have been rapidly increasing due to continuous technology improvements and demand for latest trends being the key drivers. Many customers feel unsafe to make online payments and the limitation of experiencing the product before purchasing are the main constraints for the industry players and customers. Also, the industry does not enjoy entry barriers, due to which numerous companies are free to enter and start identical ventures.
Industry Structure and Updates
The market leader for the industry is the Alibaba Group, followed by Amazon.com. Amazon currently holds 6.6% of the total market share in the online apparel market and aims to hold 16.2% in the next 5 years. Amazon is also estimated to have increased its apparel sales in 2017 by 30%, making the company the largest online retailer in US.
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