The global Online Fashion Retail Market is projected to witness a fast-paced expansion over the forecast period (from 2018 to 2025). Online retail is a part of business-to-consumer (B2C) e-commerce. Rising preference for online shopping due to increasing number of smartphone users is considered the major factor driving growth of the global market. Moreover, online retailing offers many benefits to customers such as easy transactions and convenience. This factor is also predicted to spur the market development over the next few years.
In addition, a lot of online apparel retailers offer advanced security and other features like safe online payments, free home delivery, attractive and user-friendly website, and enhanced customer service and experience. All these factors have potential to attract the majority of customers and influence them to shop online, which, in turn is likely to propel the global market growth in near future. Technological advancements like 3D printing may further drive the growth of this market.
On the other hand, high penetration of various counterfeit products may hamper the expansion of online fashion retail industry. However, factors such as a constantly rising demand for braded and trendy clothing and increasing mobile commerce along with network marketing are expected to fuel the market in near future. Furthermore, many companies offer digital printing and several other personalization techniques such as allowing buyers to upload pictures and style and design their own clothing. Such strategies are also expected to have a positive impact on the overall market.
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The global online fashion retail market is categorized as per application and region. Based on application, the market is categorized into women, men, and children. Based on region, the market is divided into Southeast Asia, United States, Europe, Japan, India, and China. United States is the second-largest consumer in the North America regional market.
However, China is estimated to be the largest market for online fashion retail by 2025 due to the presence of major online retailers. Southeast Asia is predicted to be the fastest-growing regional market and is likely to witness the maximum growth rate during the forecast years. Key factors behind the region’s development include increased internet penetration and rapid infrastructure developments in the emerging nations such as China and India.
The major companies operating in the global online fashion retail market include Fabindia; American Swan; Amazon.com, Inc.; StalkBuyLove.com; Flipkart; and Koovs.com. Most of these companies offer products at competitive prices, provide users with exiting offers such as seasonal sales, buy one get one (BOGO), and cash back offers to attract more number of consumers. Several other market strategies include offering customized apparels with attractive prints and designs and introducing new shopping trends and ideas.
“Smart stores” is one of the popular trends in the market due to rising penetration of Internet of Things (IoT). Growing digital integration allows retailers to store customer data and use it for personalizing shopper experience. Another popular trend in this market is subscription services. With high demand for more personalized experience and services, the number of tailor subscription has increased, which is more about experiences than anything else. A major example of subscription service in the global online fashion retail market is Rent the Runway.
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This report focuses on the top players in global market, like
- Amazon
- Flipkart
- Snapdeal
- Jabong
- Yepme
- 20Dresses.com
- 99labels
- Alibaba
- American Swan
- Fabindia
- FashionandYou
- Fetise
- HomeShop18
- KOOVS
- Limeroad
- Naaptol
- Shopclues.com
- Shoppers Stop
- Shopping.indiatimes
- Shopping.rediff
- StalkBuyLove.com
- Styletag
- Stylista
- Yebhi.com
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