The U.S. fashion ecommerce market is one of the largest and fastest-growing markets for online apparel, footwear, and accessories sales. Fashion ecommerce provides consumers with the convenience of shopping from a wide range of fashion products anytime and anywhere. It allows retailers to reach more customers and increase sales volumes.
The global U.S. Fashion Ecommerce Market is estimated to be valued at US$ 124.54 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rise of e-commerce adoption for fashion products has been a major driver of growth in the U.S. fashion ecommerce market. E-commerce offers advantages like enormous product variety, ease of browsing, price comparisons, home delivery services, and interactive platform experience. Consumers have shown increased preference for shopping fashion products online rather than visiting traditional brick-and-mortar stores due to these benefits. This has led fashion retailers to strengthen their direct-to-consumer online sales channels. Rapid growth in smartphone and internet penetration has further supported greater e-commerce adoption for fashion in recent years. Mobile commerce has become a big part of overall fashion e-commerce sales. This trend is expected to continue boosting the U.S. fashion ecommerce market during the forecast period.
SWOT Analysis
Strength: The U.S. fashion ecommerce market benefits from high smartphone and internet penetration which is driving the growth of online shopping. Growing preference among millennials for online channels over brick-and-mortar stores presents an opportunity.
Weakness: Presence of large number of small and medium online retailers poses challenges in terms of brand visibility and reach for major players. Customers still prefer to shop certain categories like apparel and footwear from physical stores to checking fit and feel.
Opportunity: Growing popularity of social media and influencer marketing is encouraging fashion brands to increase their digital presence and engagement. Emergence of omnichannel retailing provides an opportunity to bridge online and offline experiences.
Threats: Stiff competition from emerging fashion startups and international players expanding into the U.S. market. Rising customer acquisition costs poses challenges.
Key Takeaways
The Global U.S. Fashion Ecommerce Market Size is expected to witness high growth. Digital natives and increased smartphone usage is driving growth of online shopping. The global U.S. Fashion Ecommerce Market is estimated to be valued at US$ 124.54 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031.
Regional analysis: The western region dominates the U.S. fashion ecommerce market holding around 35% share in 2020. Presence of major fashion hubs like California and high penetration of internet and smartphones is driving the market in this region. The southern region is expected to be the fastest growing market during the forecast period due to rising fashion consciousness.
Key players: AngioDynamics, Inc, C.R. Bard, Inc, Teleflex Incorporated, B. Braun Melsungen AG, Medtronic Plc, Vygon Ltd., Cook Medical, Inc., Argon Medical Devices, Inc.,ICU Medical, Inc.,Theragenics Corporation, Becton, Dickinson and Company,icumedical, Polymedicure, Lepu Medical Technology (Beijing) Co.,Ltd., VOGT MEDICAL, Gilead Sciences, Inc and ZOLL Medical Corporation etc are some of the key players operating in the U.S. fashion ecommerce market. They are focusing on expanding their product portfolios and strengthening online and offline distribution networks.
For more Insights, Read –
https://www.insightprobing.com/u-s-fashion-ecommerce-market-market-size-share-analysis-growth/
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