by U.S. fashion e-commerce provides an online platform for buyers to purchase a wide range of apparel, footwear, and accessories from the comfort of their home. The market has been steadily growing due to increased penetration of internet and smartphones along with inclination of younger population towards online shopping on mobile devices for its convenience.
The global U.S. Fashion Ecommerce Market is estimated to be valued at US$ 108.01 Bn in 2023 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 key trends:
One of the key drivers of the market growth is the rising demand for online shopping on mobile devices. Mobile commerce has been gaining traction in the U.S. fashion industry with growing preference of shoppers to purchase fashion products using their smartphones and tablets. Easy access to e-commerce portals on mobile devices along with various payment options and customer-centric mobile applications provided by online retailers are encouraging more customers to rely on their mobile devices for fashion shopping. This shift towards mobile commerce is expected to propel the U.S. fashion e-commerce market during the forecast period.
SWOT Analysis
Strengths: The U.S. fashion ecommerce market has a large consumer base and high disposable incomes that drives sales. Online shopping is highly convenient for consumers.
Weaknesses: There is intense competition in the market from established players. High returns and shipping costs can impact profitability for retailers.
Opportunities: Emerging technologies like AI, VR and AR provide new opportunities to enhance the online shopping experience. Growth of mobile commerce and social commerce can further boost sales.
Threats: Economic downturns can negatively impact consumer spending. Strict privacy and data laws pose compliance challenges for retailers collecting customer data.
Key Takeaways
U.S. Fashion Ecommerce Market Demand is expected to witness high growth over the forecast period. Rapid growth of online shopping, especially among younger consumers, is a major factor driving the market.
Regional analysis: North America dominates the market currently due to high ecommerce penetration and high volumes of online apparel purchases. The U.S. accounts for the largest share within the region. Asia Pacific is expected to grow at the fastest pace during the forecast period with China and India emerging as major markets.
Key players: 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. Major players are focusing on expanding their product portfolios and investing in technologies to enhance the online shopping and delivery experience for customers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
