The U.S. fashion e-commerce market includes clothing, footwear and accessories that are sold through online platforms. Online fashion shopping provides consumers with a wider variety of products from different brands, styles and price ranges. Customers can browse through numerous options from the comfort of their home and get products delivered within a few days. Key e-commerce retailers such as Amazon, Walmart and eBay have expanded their fashion portfolios significantly over the years with both owned and third-party sellers. Rising internet and smartphone penetration along with the convenience of online shopping have been driving increasing adoption of e-commerce platforms for fashion retail in the country.
The U.S. fashion ecommerce market is estimated to be valued at US$ 108.1 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing adoption of online shopping platforms: As highlighted in the heading, growing adoption of online platforms for shopping has been one of the key drivers of growth for the U.S. fashion ecommerce market. Increased use of smartphones and internet along with the convenience of browsing products from multiple brands and stores online has led to more customers preferring ecommerce over traditional brick and mortar stores for fashion shopping. The COVID-19 pandemic further accelerated digital adoption and boosted online shopping habits which has continued even after lockdowns eased.
Availability of a variety options: Ecommerce provides access to an extensive catalogue of fashion products across categories from different brands, designers, budget ranges and latest trends that enable buyers to choose from hundreds of options as compared to limited inventory available in retail stores. This wide assortment available on online portals attracts more customers.
Segment Analysis
The U.S. fashion ecommerce market is dominated by the apparel sub-segment which accounts for over 50% share. Due to the growing preference for new and trendy clothing among Americans, the apparel sub-segment has witnessed increased demand. Availability of an extensive range of products at competitive prices through various online retail platforms has further contributed to its dominant position.
PEST Analysis
Political: Industry players have to adhere to various regulations related to import and export of goods. Favorable trade policies could boost cross-border ecommerce.
Economic: A strong economy and rising disposable incomes have enabled higher consumer spending on fashion products online. Economic slowdowns may negatively impact market growth.
Social: Increased internet and smartphone penetration along with a shift towards digital shopping habits among consumers, especially youth, is driving market demand.
Technological: Advanced technologies like AI, machine learning, analytics help online retailers improve consumer experience through personalized recommendations and digital payment options.
Key Takeaways
The U.S. Fashion Ecommerce Market Size is expected to witness high growth. The U.S. fashion ecommerce market is estimated to be valued at US$ 108.1 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.
Regional analysis: The Western region dominates the U.S. fashion ecommerce market, accounting for over 40% share due to high disposable incomes and exposure to latest fashion trends in major cities like Los Angeles and San Francisco. The Southern region also has a significant presence.
Key players: Key players operating in the U.S. fashion ecommerce market are AngioDynamics, Medtronic, Edwards Lifesciences, Terumo, Johnson & Johnson. AngioDynamics holds the leading market position owing to its strong product portfolio and geographic footprint in the country.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
