by The U.S. fashion ecommerce market provides consumers with a wide variety of apparel, footwear and accessories online. With the convenience of browsing and purchasing fashion items from various brands without visiting physical stores, online fashion spending has grown exponentially in the country.
The 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.
Key Takeaways
Key players operating in the U.S. fashion ecommerce 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. These players are focusing on expanding their product portfolios and investing in technological advancements to gain market share.
The key opportunities in the market include growing popularity of online shopping and same day delivery options. Online retailers are partnering with logistics companies to provide convenient and fast delivery options to customers. This has boosted online fashion purchases. Moreover, the growing millennial population is increasingly spending on fashion online using their smartphones, creating new avenues for growth.
In terms of geography, the U.S. Fashion Ecommerce Market Growth currently dominates North America. However, with rising penetration of internet and smartphones, the market is expanding globally with companies focusing on entering international markets. cross-border sales between countries are also on the rise.
Market drivers
The primary driver for the U.S. Fashion Ecommerce Market is the widespread adoption of smartphones and easy access to internet. People now extensively use their mobile devices to search for fashion products online. This has encouraged retailers to develop optimized mobile sites and apps for seamless online shopping experience. As mobile shopping continues to grow, it will remain a major growth driver in the coming years.
PEST Analysis
Political: The US fashion ecommerce market is regulated by several consumer protection laws and import/export duties. Any policy changes related to these regulations could impact the industry.
Economic: The overall economic growth of the United States coupled with increasing disposable incomes and rising adoption of digital payments has fueled the growth of the fashion ecommerce market. However, changes in macroeconomic factors like inflation and recession may affect consumer sentiment and spending.
Social: Younger generations are more comfortable with online shopping due to higher digital penetration and changing shopping preferences. Social media is also a key driver of trends that influence online fashion shopping.
Technological: Advancements in areas like mobile commerce, analytics, AR/VR and automation have enhanced the online shopping experience for customers. Emerging technologies continue to improve areas like personalized recommendations, virtual try-on and easy payment solutions.
Geographical Regions of Concentration
The western and northeastern regions of the United States account for the largest share of the fashion ecommerce market in terms of value. States like California, New York and Texas have a high density of fashion-conscious consumers and fast delivery networks supported by major ecommerce players. Emerging urban markets across these regions also contribute significantly due to growing affluence and tech-savvy youth
Fastest Growing Region
The southern states in the United States are witnessing the fastest growth for the fashion ecommerce market. States like Florida, Georgia and North Carolina are experiencing rapid urbanization and rising living standards. The widespread adoption of smartphones in these regions has made online shopping more accessible. Logistic networks are also strengthening to enable one-day delivery options, driving further gains in online apparel shopping within the Midwest and South.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
