Global E-Business in Fashion Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global E-Business in Fashion Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The fashion industry in collaboration with E-commerce acts as a tool for innovation and growth and has been at the forefront for multiple technological breakthroughs. The concept of Ecommerce has transformed the fashion industry, allowing consumers to shop from the comfort of their own home. Growth in E-commerce fashion industry E-commerce has enabled luxury fashion to be widely accessible to a worldwide market, and forms a significant part of the global economy. Changes in fashion require companies to track market conditions in real time, anticipate changes in customer needs, quickly respond to customer requirements, and provide customized products to customers at mass production prices to achieve maximum market benefits. And E-commerce, through the investigation of user interest and the collection of customer feedback information, just provides a low-cost technical means for enterprises to achieve this goal.

Market Overview:

The latest research study on the global E-Business in Fashion market finds that the global E-Business in Fashion market reached a value of USD 742120.26 million in 2022. It’s expected that the market will achieve USD 1120555.15 million by 2028, exhibiting a CAGR of 7.11% during the forecast period.

Influence of COVID-19 Outbreak of E-Business in Fashion Industry Development

Impacts from the short-term
In the short term, due to the impact of COVID-19, physical fashion product stores of all sizes have been suspended, so most customers will turn to online shopping, and online stores have already been prepared to meet the growing demand for goods and services Preparation. Therefore, e-commerce will grow rapidly in the fashion industry market. However, there are challenges. E-commerce itself is not omnipotent, and there are problems in the supply chain and product delivery, and ecommerce companies in the fashion industry must solve these problems through innovation.
Impacts from the long-term
In the long term, as the coronavirus crisis continues to haunt the world's population, companies with powerful e-commerce products can ensure that they are there when consumers need them. But if the customer's website is not found in the search engine of the relevant search, or the website's responsiveness lags behind the competitors, the competitiveness of ecommerce companies in the fashion industry will be greatly reduced. And when the epidemic is over, sales will also decline, so online fashion product stores must constantly update their product quality and services to avoid large-scale loss of customers.

Opportunities

The pervasiveness of mobile phones across all industries allows companies to further engage shoppers at any time from any place. The adoption of mobiles is rapidly approaching saturation, which indicates that it is a high engagement platform. A well implemented mobile feature allows brands to complement their primary products, especially for the most brand loyal customers who are more likely to regularly use the app. Mobile engagement can reinvigorate stale brands if customers are engaged in new ways. Companies that are willing to utilize highly technological features such as AI or virtual reality (VR), are more likely to become trendsetters in their respective industries which may have a spill-over effect in other markets. In order for a mobile app to garner meaningful and regular usage, it must be considered as simply one instrument in a brand’s digital footprint. Increased sales are still considered to be the ultimate goal of a mobile app’s accomplishments. However, discovery and subsequent engagement, and consequent customer retention, are considered to be the prerequisites to the achievement of sales in the feedback loop. A personalized after sales experience is just as important for customer satisfaction, as consumers increasingly require peace of mind when shopping online. Lower digital barriers to entry for all clothing sellers increasingly offer the opportunity for merchants to market and sell products internationally and automatically. As a result of this change, worldwide revenue is projected to grow significantly.

Region Overview:

China had the highest growth rate of all regions.

Company Overview:

The top three companies are Vip Shop, Zalando and Asos with the revenue market share of 1.43%, 1.30% and 0.62% in 2019.

Vipshop is a Chinese online shopping website operated by Guangzhou Vipshop Information Technology Co., Ltd. & Vipshop Co., Ltd., which mainly sells clothing and cosmetics, and also develops the sale of small household appliances, toys, daily necessities and other commodities.

Zalando SE is a German fashion e-commerce internet company. Its online products mainly are shoes and fashion clothes. The company was founded in Germany in 2008 and is headquartered in Berlin. Since 2008, Zalando's online retail business has gradually expanded to 14 European countries.

Segmentation Overview:

Among different product types, Clothing and Apparel segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Back-end as a Service (BaaS) segment occupied the biggest share from 2018 to 2022.

Key Companies in the global E-Business in Fashion market covered in Chapter 3:

Asos
Select
2020AVE
Lavish Alice
Next
Style Keepers
Fashion Bunker
Lime road
Misguided
Beyond Retro
Zalando
Pretty Little Thing
Zara
Forever 21
Dannijo

In Chapter 4 and Chapter 14.2, on the basis of types, the E-Business in Fashion market from 2018 to 2029 is primarily split into:

Clothing and Apparel
Shoes Segment
Accessories and Bags
Jewelry and Luxury

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the E-Business in Fashion market from 2018 to 2029 covers:

Network as a Service (NaaS)
Data as a Service (Daas)
Storage as a Service (STaas)
Back-end as a Service (BaaS)

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)