March 1, 2024

The U.S. Fashion Ecommerce Market is Estimated to Witness High Growth Owing to Opportunity for Increased Adoption of Online Shopping

Fashion ecommerce refers to online retail of fashion items such as clothing, footwear and accessories. Rising penetration of smartphones and internet connectivity has increased online shopping preferences among customers in the U.S. Fashion ecommerce allows customers to browse a wide range of products from various brands online with features like reviews, size guides and return policies. This convenience drives the adoption of online shopping over traditional retail channels.

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 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

Busy lifestyles and easy returns have made fashion ecommerce an attractive option. Over 75% of online shoppers in the country now buy apparel and accessories online. Leading players are investing in providing omni-channel experience by integrating online and offline presence. Marketers are also leveraging social media platforms and influencer marketing to drive brand visibility and sales. As internet and smartphone access expands further in smaller cities and towns, new customer segments will emerge for fashion ecommerce. Ease of online shopping is expected to fuel continued rise in adoption rates, supporting growth of the market.

Porter’s Analysis
Threat of new entrants: The U.S. Fashion Ecommerce Market has moderately high barriers for entry due to established brands and the need for substantial investment in technology, infrastructure and marketing.

Bargaining power of buyers: Buyers in this market have high bargaining power due to the availability of substitute products and brands.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to the presence of several existing suppliers and ease of switching between suppliers.

Threat of new substitutes: Potential threat from new substitutes is high as new trends emerge rapidly in fashion and competitors can launch innovative substitute products.

Competitive rivalry: Intense competition exists between existing key players in the market.

SWOT Analysis
Strength: Well established brands, advanced distribution channels, strong investments in digital and mobile.

Weakness: Vulnerable to frequent changes in fashion trends, intense price wars between players.

Opportunity: Growing dominance of online shopping, expansion of fashion products categories.

Threats: Economic slowdowns reducing consumer spending, stringent regulations around data privacy.

Key Takeaways
The Global U.S. Fashion Ecommerce Market Size  is expected to witness high growth. 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 shows California and Texas are the fastest growing markets due to high spending customers.

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

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