by The China fashion ecommerce market has witnessed substantial growth over the past few years. Fashion ecommerce platforms enable consumers to shop for various types of apparel, footwear and accessories from the comfort of their homes. They offer a wide variety of domestic and international brands at competitive prices. The convenience of online shopping, easy return policies and cash-on-delivery options have further boosted the adoption of fashion ecommerce in China.
The Global China Fashion Ecommerce Market is estimated to be valued at US$ 744.01 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the China Fashion Ecommerce Market Size are MaritzCX Research LLC (Inmoment LLC), Adobe Inc., Medallia Inc., Oracle Corporation, Clarabridge, SAP SE, Sitecore, IBM Corporation, Zendesk, Avaya Inc., Open Text Corporation, Verint Systems Inc., and Tech Mahindra. The growing adoption of smart devices and rapid internet penetration in China have increased online shopping, thereby driving the demand for fashion ecommerce. China represents one of the largest ecommerce markets globally with increasing rate of cross border shopping. Chinese fashion ecommerce platforms are expanding their operations globally through strategic acquisitions and partnerships.
Market key trends
Personalization is emerging as a key trend in the China fashion ecommerce market. Platforms are leveraging analytics, AI and omnichannel capabilities to offer more personalized experiences to consumers. They are collecting consumer data through various online and offline touchpoints to better understand their preferences. This helps in offering customized fashion products, recommendations, payment options, delivery schedules and after-sales service. Personalization plays a crucial role in enhancing consumer satisfaction, loyalty and spending on the platform.
Porter’s Analysis
Threat of new entrants: New entrants face high capital requirements and established network of existing players. Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and price comparison platforms. Bargaining power of suppliers: Suppliers have moderate bargaining power as there are many alternatives. Threat of new substitutes: Threat of new substitutes is low as established players continue to offer unique features. Competitive rivalry: Intense competition among existing players.
China holds the largest share of the fashion ecommerce market in terms of value owing to the huge population, increasing internet and smartphone penetration, and rising disposable incomes of people. The Western and Southern regions of China generate most of the revenue as these regions are economically developed with major fashion hubs like Beijing, Shanghai, Guangdong etc.
The Southeast Asian countries especially Vietnam, Indonesia, and Philippines are witnessing fastest growth in the fashion ecommerce market. Low labor costs, young population, growing middle class with rising spending power, increasing internet and smartphone adoption are driving growth in these emerging markets of Southeast Asia.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
