June 25, 2024
US Fashion Ecommerce Market

Rising Adoption Of Smartphones And Apps Is Anticipated To Openup The New Avenue For US Fashion Ecommerce Market

The 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 consists of online retailers and multi-brand stores selling apparel, footwear, accessories, and other fashion items. Key players in this market offer various products including ethnic wear, western wear, innerwear, sleepwear, socks, and more through their websites and mobile apps. The ease of browsing a wide range of collection and convenient payment and delivery options have increased the popularity of online fashion shopping in the US.

Market Dynamics:

Growing smartphone and internet penetration: Smartphone and internet penetration have greatly increased in the US over the past few years. According to the Pew Research Center, around 81% of US adults owned a smartphone in 2021. Increased smartphone and internet usage have boosted online shopping activities including fashion ecommerce. Moreover, the COVID-19 pandemic further accelerated digital adoption, benefiting fashion ecommerce retailers.

Rising influence of social media platforms: Popular social networking platforms like Instagram, Facebook, and Snapchat have become key marketing channels for fashion brands and retailers. Influencers and celebrities promote latest fashion trends and products on these platforms influencing buying decisions of younger consumers. Live streaming and shoppable social media posts have emerged as an effective way to engage customers and drive online sales in the US fashion market.

Segment Analysis:

The US fashion ecommerce market is dominated by the apparel segment, accounting for nearly half of the total market share. Apparel sub-segment includes various categories such as men’s wear, women’s wear, kids’ wear and sportswear. Within apparel, women’s wear holds the largest share due to rising fashion consciousness and increasing disposable income among working women population in the US.

PEST Analysis:

  • Political: Favorable regulatory framework supporting ecommerce platforms in the US is promoting growth of fashion ecommerce.
  • Economic: Rising internet and smartphone penetration coupled with improving economic conditions is fueling growth of fashion ecommerce market in the US.
  • Social: Increased social media influence and emergence of influencer marketing is positively impacting online shopping trends among millennials and generation Z.
  • Technological: Adoption of advanced technologies like AI, analytics, VR/AR is enhancing online shopping experience and personalizing product recommendations.

Key Takeaways:

The US Fashion Ecommerce Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period 2023 to 2030, due to increasing penetration of internet and smartphones. The market size for 2023 is estimated at US$ 108.10 Bn.

California emerged as the leading regional market in the US attributed to high concentration of fashion conscious population, especially in major cities like Los Angeles and San Francisco. Texas and Florida are other fast growing states driven by urbanization and i

US Fashion Ecommerce Market

mproving lifestyle.

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. Among these, Amazon leads the market with around 50% share owing to its wide product portfolio and robust fulfillment infrastructure.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it