by The U.S. fashion ecommerce market comprises online sales of apparel, footwear, beauty and other fashion products. These products are sold directly to consumers through company-owned websites or using popular e-commerce platforms. The fashion ecommerce business model provides consumers with a wide variety of options from brands at competitive prices, delivered directly to their doorsteps with just a few clicks.
The US fashion ecommerce market is estimated to be valued at US$ 124.54 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the U.S. Fashion Ecommerce Market include AngioDynamics, Inc, C.R. Bard, Inc, Teleflex Incorporated, B. Braun Melsungen AG, Medtronic Plc, Vygon Ltd., Cook Medical, Inc., Argon Medical Devices, Inc.,ICU Medical, Inc.,Theragenics Corporation, Becton, Dickinson and Company,icumedical, Polymedicure, Lepu Medical Technology (Beijing) Co.,Ltd., VOGT MEDICAL, Gilead Sciences, Inc and ZOLL Medical Corporation. These established players dominate the market with their strong portfolio and widespread distribution networks.
The growing demand for fashion items among US consumers is a key driver for the U.S. Fashion Ecommerce Market Demand. Especially from millennial and Gen Z consumers who prefer online shopping for its convenience. Social media has further encouraged online shopping trends by allowing consumers to follow favorite influencers and get exposed to latest styles and deals. This is positively impacting sales volumes for fashion ecommerce retailers.
The large consumer base and high penetration of internet and smartphones in the US provides vast opportunities for global fashion retailers to expand into the US market. Several Chinese and European fashion companies have entered the US ecommerce space and are gaining market share through competitive pricing and diverse product offerings tailored for the US audience. The trend towards global expansion of fashion retailers into the lucrative US market is expected to continue in the coming years.
Market key trends
One of the key trends gaining momentum in the US fashion ecommerce market is the rise of social media driven shopping. Many large fashion retailers now have a dedicated presence on Instagram and Facebook where they promote exclusive clothing lines, host live shopping events and offer time-bound discounts exclusively for their social media followers. Influencers regularly endorse fashion products giving them free publicity. This has made social media an integral part of the online shopping journey and marketing mix for most major US fashion ecommerce companies.
Porter’s Analysis
Threat of new entrants: Low barrier to entry but strong competition from well established players in the market.
Bargaining power of buyers: Large buyers have significant bargaining power due to the availability of substitutes.
Bargaining power of suppliers: Few major suppliers control most of the market share giving them higher bargaining power.
Threat of new substitutes: Threat is moderate as substitutes require significant investment and time for establishment.
Competitive rivalry: Intense competition due to presence of major regional and global players.
Geographical Regions
North America accounts for around 40% of the total market share in terms of value, driven by high adoption of e-commerce and presence of major retailers. Factors like high penetration of internet and growth of smartphone users in the region further boost the market growth.
Asia Pacific region is expected to witness the fastest CAGR during the forecast period. Rising middle-class population, growing number of online shoppers, increasing investment by international brands and emergence of regional online fashion retailers are driving the market in Asia Pacific region. Countries like China, India and Japan will be the major revenue generators.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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