This industry research report presents a detailed segmentation of the online fashion retail market in the US by product (apparel, footwear, and accessories; and home furnishings and furnishings). It also presents a detailed analysis of the key vendors and their market shares, including Amazon, Walmart, L Brands, Gap, IKEA, and Macy’s.
Technavio’s market research analysts estimate the online fashion retail market in the US, to grow at a CAGR of more than 14% between 2016 and 2020. Growing popularity of the Omni-channel retailing strategy has intensified growth of the online fashion retail market in the US. Omni-channel retailing offers consumers the option to shop online and pick up the merchandise from the store nearest to their location on the same day. The introduction of initiatives like ship-from-store, reserve-in-store, and order-in-store programs has boosted the sales of fashion related products.
The new market research report from Technavio provides a breakdown and analysis of the online fashion segments by technology.
“Growing use of mobiles has accelerated the retail sales, as consumers prefer online shopping through mobile devices. The majority of the orders placed via smartphones are for mobile devices, apparel, pen drives, memory cards, and footwear. Observing rise in online shopping through mobile devices, most online retailers have launched mobile versions of their shopping portals. Growing popularity of these mobile apps is expected to intensify the use of mobile wallets,” says Brijesh Kumar Chaubey, Lead Analyst, Consumer & Retail, Technavio Research
The apparel, footwear, and accessories product dominates the online fashion market in the US, and is expected to occupy around 86% of the overall market share. Much of this segment’s growth comes from the growing utilization of advertising, e-mail and social media marketing platforms to attract customers. The increasingly busy lifestyles of consumers have resulted in more consumers opting for the online channel to shop for apparels, footwear, and accessories at their convenience.
Source: Technavio, 2016
The leading vendors in the online fashion retail market in the US are Amazon, Walmart, L Brands, Gap, IKEA, and Macy’s. This market is highly competitive due to the presence of both international and domestic suppliers. With the rising level of competition, manufacturers have been compelled to introduce new product lines in the market to meet the buying trend among the consumers. Factors such as recent product launches, price wars, and mergers and acquisitions will augment the level of competition in this market.
A more detailed analysis is available in the Technavio report, Online Fashion Retail Market in the US 2016-2020.
We can customize reports by other regions and specific segments upon request.
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