Global Online Apparel Market to 2027

Global Online Apparel Market to 2027

Summary

This report offers an analysis of both the historic and forecast data of the online apparel market through 2027. It provides a brief of the key trends along with sales and growth across different regions and category groups. It also highlights the online apparel brands and their current competitive position.

Even though the reopening of stores post-pandemic has slowed down the growth of online apparel sales, spend remained 44.2% higher than 2019 levels in 2022 at $538.8bn. The market is projected to have grown a further 4.0% in 2023, with a CAGR of 6.5% forecast between 2022 and 2027, aided by easing inflation and retailers’ ongoing investments in their online propositions. Though it is currently the smallest market, the Middle East and Africa is forecast to experience the strongest online apparel growth, with the market rising by 16.0% in 2023 and expected to grow at a CAGR of 13.2% between 2023 and 2027. Online specialists are expected to grow at a faster rate than multichannel players out to 2027, as they often have greater technological capabilities and superior delivery options. This is particularly driven by the meteoric rise of Shein, which has seen its online apparel market share rise by an estimated 2.1ppts between 2021 and 2023 to reach 4.9%, overtaking Amazon as the biggest retailer and Nike as the biggest brand.

Key Highlights

Online sales growth is set to remain strong, with a projected CAGR of 6.5% between 2022 and 2027
Asia Pacific to overtake the Americas to become the biggest online apparel market
Shein’s rapid growth has allowed it to become the top brand and retailer in the online apparel market

Reasons to Buy

• Gain an understanding of the drivers of the online apparel market along with data, forecasts along with a region-wise and category-wise analysis