U.S. Fashion Ecommerce Market is driven by the increased adoption...

U.S. Fashion Ecommerce Market is driven by the increased adoption of online shopping

Posted 2024-06-18 13:48:37

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The online retail channels also offer convenience through anytime, anywhere shopping without having to visit a brick-and-mortar store.

The 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.

Key Takeaways

Key players operating in the U.S. Fashion Ecommerce are 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.

The growing demand U.S. Fashion Ecommerce Market Size for fashion products from Millennials and Generation Z owing to fast changing trends has boosted online shopping in this category. The young demographic majorly rely on digital platforms for sourcing new fashion styles and remain loyal returning customers of ecommerce portals.

The large fashion retail players are increasingly focusing on global expansion plans to capture more international demand online. Companies are investing in multiple local warehouses, logistics and digital technology infrastructure to provide hassle-free delivery services across geographical borders. This is expected to drive the ecommerce fashion sales volumes across world regions over the forecast period.

Market drivers

Rise of smartphones and easy access to internet has made online shopping an ubiquitous activity for many Americans. Mobile applications of fashion portals allow consumers to browse catalogues and place order on the go. The increased time spent on smartphones by customers has directly contributed to growing adoption rates of fashion ecommerce.

Impact of geopolitical situation on U.S. Fashion Ecommerce Market growth

The ongoing geopolitical conflicts and tensions across the world are negatively impacting the growth of the U.S. fashion ecommerce market. The trade restrictions and sanctions imposed by the U.S. on other major economies like China are disrupting supply chain operations and logistics for major fashion retailers. This is limiting their access to affordable clothing raw materials and accessories. The rising conflict between Russia and Ukraine is further escalating energy costs and fuel prices. This is pushing up transportation and shipping expenses significantly for fashion retailers. The higher operational costs are forcing retailers to hike product prices, which is restricting the purchasing power of customers and dampening demand.
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