June 14, 2024
China Fashion Ecommerce Market

The China Fashion Ecommerce Market Driven by Rising Internet Penetration

China’s fashion Ecommerce market has witnessed rapid growth over the past decade driven by rising internet penetration and increasing adoption of online shopping. Fashion products available through various Ecommerce platforms include apparel, footwear, bags and accessories that cater to the changing fashion trends and demands of consumers across different age groups. Ecommerce platforms offer a wide range of domestic and international fashion brands at competitive prices with the convenience of online shopping from home. The assortment of private labels by leading platforms has further strengthened their value propositions.

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 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the prominent trends in China’s fashion Ecommerce sector is the rising dominance of social commerce model. Platforms are leveraging social media and influencer marketing to build closer connections with shoppers and boost impulse purchases. Livestreaming has particularly gained traction as it allows influencers and sellers to interact with audiences in real-time while showcasing products. Major Ecommerce players have launched dedicated livestreaming channels and features to capitalize on this trend. Furthermore, growing health-consciousness among Chinese consumers has bolstered demand for comfortable and environment-friendly attires made from organic and natural materials. Ecommerce sellers are seeing increasing traction by launching private labels with such differentiated fashion products.

Porter’s Analysis
Threat of new entrants: The China fashion ecommerce market sees moderate threat from new entrants given the presence of established players and need for investments in logistics and supply chain infrastructure. However, the growing market size presents opportunities.

Bargaining power of buyers: Buyers have moderate to high bargaining power due to the availability of substitutes and ability to compare prices of different players online.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the presence of a large number of suppliers and brands in the market.

Threat of new substitutes: Threat from new substitutes is moderate as online shopping is becoming increasingly popular compared to offline methods.

Competitive rivalry: The market sees high competitive rivalry among major players like MaritzCX Research LLC, Adobe Inc., Medallia Inc., Oracle Corporation competing on pricing, new features and customer experience.

Key Takeaways
The Global China Fashion Ecommerce Market Size is expected to witness high growth over the forecast period of 2024 to 2031.

Regional analysis: The China region dominates the market and is projected to continue its dominance over the forecast period owing to rising disposable incomes, increasing internet and smartphone penetration in the country.

Key players: Key players operating in the China fashion ecommerce market are MaritzCX Research LLC (Inmoment LLC), Adobe Inc., Medallia Inc., Oracle Corporation, Clarabridge, SAP SE, Sitecore, IBM Corporation, Zendesk, Avaya Inc., Open Text Corporation, and Tech Mahindra.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it