NEW YORK, Jan. 24, 2023 /PRNewswire/ -- According to Technavio, the global online apparel retailing market size is estimated to grow by USD 220 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 13.85%. Moreover, the growth momentum will accelerate. North America will account for 38% of the growth of the global market during the forecast period.
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Global online apparel retailing market - Five forces
The global online apparel retailing market is fragmented, and the five forces analysis covers–
Bargaining power of buyers
The threat of new entrants
Threat of rivalry
Bargaining power of suppliers
Threat of substitutes
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Global online apparel retailing market – Customer landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global online apparel retailing market - Segmentation assessment
Technavio has segmented the market based on end-user (men's apparel, women's apparel, and children's apparel) and product (upper wear apparel, bottom wear apparel, and others).
The men's apparel segment will grow at a significant rate during the forecast period. Men's apparel includes clothing and related accessories such as hats, scarves, and gloves. Lifestyle changes, the increasing popularity of cosmopolitan culture, and the rise in affluence have led to considerable variations in the existing wardrobes of men. This has increased the sales of men's apparel. Therefore, the men's apparel segment is expected to witness high growth during the forecast period.
Based on geography, the global online apparel retailing market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global online apparel retailing market.
North America is estimated to account for 38% of the growth of the global market during the forecast period. The US is the largest market for online apparel across the world. The improving economic conditions, high demand for luxury wear, increasing disposable income, and the availability of a wide variety of clothing lines are expected to drive the market's growth in the region during the forecast period.
Global online apparel retailing market – Market dynamics
Key factor driving market growth
The rising popularity of digital payment systems will drive the growth of the online apparel retailing market.
The demand for online shopping has increased owing to the availability of a wide range of products, online payment options, online shipment tracking, 24/7 customer support, wide internet coverage, and low costs.
Several payment options, such as credit cards, cash on delivery (COD), online banking accounts, bills of exchange, and cash on delivery, are available to customers.
Digital payment services also allow consumers to make payments at the point of sale through a mobile device.
These factors are expected to fuel the growth of the market during the forecast period.
Leading trends influencing the market
Mobile commerce and network marketing are key trends influencing market growth.
Most online retailers have launched mobile versions of their shopping portals to take advantage of the rise in mobile commerce.
For instance, Amazon.com and eBay have introduced mobile applications that are compatible with iOS, Android, and other operating systems. These applications allow users to shop conveniently through their mobile devices.
In addition, the use of mobile wallets is expected to grow in the future.
These factors will support the growth of the market during the forecast period.
Major challenges hindering market growth
The presence of counterfeit products is challenging the online apparel retailing market growth.
According to Organization for Economic Co-operation and Development (OECD), the clothing industry is the second largest market in the trade of fake goods. The majority of fake goods are made in Hong Kong and China.
Counterfeit apparel products often use low-quality cotton and other raw materials.
The influx of counterfeit products in the US is affecting its economy and leading to significant losses for legitimate American companies.
Such factors will impede the growth of the market during the forecast period.
What are the key data covered in this online apparel retailing market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the online apparel retailing market between 2023 and 2027
Precise estimation of the size of the online apparel retailing market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the online apparel retailing market across North America, Europe, APAC, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of Online Apparel Retailing Market vendors
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Online Apparel Retailing Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 13.85%
Market growth 2023-2027
USD 220 billion
YoY growth 2022-2023 (%)
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 38%
US, China, Japan, Germany, and UK
Leading vendors, market positioning of vendors, competitive strategies, and industry risks
Key companies profiled
adidas AG, Alibaba Group Holding Ltd., Amazon.com Inc., ASOS Plc, BANGGOOD TECHNOLOGY Co. Ltd., Cotton On Group, Gap Inc., Gildan Activewear Inc., Giordano International Ltd., JD.com Inc., Kering SA, Levi Strauss and Co., LVMH Moet Hennessy Louis Vuitton SE, M. H. Alshaya Co. WLL, OTB Spa, Ralph Lauren Corp., SSENSE, Staples Inc., The Level Group S.r.l., and Walmart Inc.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
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Table of contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global online apparel retailing market 2017 - 2021
4.2 Product Segment Analysis 2017 - 2021
4.3 End-user Segment Analysis 2017 - 2021
4.4 Geography Segment Analysis 2017 - 2021
4.5 Country Segment Analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by End-user
6.1 Market segments
6.2 Comparison by End-user
6.3 Men apparel - Market size and forecast 2022-2027
6.4 Women apparel - Market size and forecast 2022-2027
6.5 Children apparel - Market size and forecast 2022-2027
6.6 Market opportunity by End-user
7 Market Segmentation by Product
7.1 Market segments
7.2 Comparison by Product
7.3 Upper wear apparel - Market size and forecast 2022-2027
7.4 Bottom wear apparel - Market size and forecast 2022-2027
7.5 Others - Market size and forecast 2022-2027
7.6 Market opportunity by Product
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 North America - Market size and forecast 2022-2027
9.4 Europe - Market size and forecast 2022-2027
9.5 APAC - Market size and forecast 2022-2027
9.6 South America - Market size and forecast 2022-2027
9.7 Middle East and Africa - Market size and forecast 2022-2027
9.8 US - Market size and forecast 2022-2027
9.9 China - Market size and forecast 2022-2027
9.10 Japan - Market size and forecast 2022-2027
9.11 UK - Market size and forecast 2022-2027
9.12 Germany - Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 adidas AG
12.4 Alibaba Group Holding Ltd.
12.5 Amazon.com Inc.
12.6 ASOS Plc
12.7 BANGGOOD TECHNOLOGY Co. Ltd.
12.8 Cotton On Group
12.9 Gildan Activewear Inc.
12.10 Giordano International Ltd.
12.11 Kering SA
12.12 Levi Strauss and Co.
12.13 M. H. Alshaya Co. WLL
12.14 OTB Spa
12.15 Ralph Lauren Corp.
12.16 The Level Group S.r.l.
12.17 Walmart Inc.
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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