May 26, 2024
UK Fashion Ecommerce Market
Ict

UK Fashion Ecommerce Market is Expected to be Flourished by Growing Trend of Online Shopping

The UK fashion ecommerce market deals with sale of clothing, footwear and apparel accessories through online channels. Online shopping for fashion products has significantly increased in the UK as it provides convenience to customers by enabling them to choose from a wide range of products available on various ecommerce platforms, without having to visit physical stores. Major fashion brands and retailers in the UK such as ASOS, Boohoo, JD Sports and Very have established strong online presence to cater to growing demand from customers.

The global UK fashion ecommerce Market is estimated to be valued at US$ 35.94 million in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Growing trend of online shopping: The growing preference of customers towards online shopping over traditional retail stores has been a major driver of growth for the UK fashion ecommerce market. Customers find it more convenient to browse and purchase fashion products from the comfort of their homes on digital platforms. This has encouraged several fashion brands and retailers to strengthen their online presence.

Improving logistics infrastructure: Investments by leading ecommerce companies and logistics providers towards enhancing warehouse infrastructure, cargo facilities and faster delivery options have boosted the online sales of fashion products in the UK. Availability of options like same-day or next-day delivery attract more customers to shop fashion products on online shopping sites and apps.

Segment Analysis

The UK fashion ecommerce market is dominated by the clothing sub-segment, which accounts for over 50% of the total market share. Clothing has seen a much higher demand online compared to other segments like accessories and footwear due to the available sizes and convenience of shopping from home. The rising popularity of athleisure and work-from-home trends have further boosted sales of clothing products on ecommerce platforms in the UK.

PEST Analysis

Political: The UK government has taken several initiatives like the Digital Economy Act 2017 to promote digital commerce and reduce barriers for online retailers. This has favored the growth of the fashion ecommerce industry.

Economic: Rising internet penetration and affordable smart devices have improved access to online shopping. Higher disposable incomes have also encouraged higher spending on fashion products via ecommerce websites and apps.

Social: Shifting lifestyle preferences toward comfort clothing and a desire for variety and new trends have boosted online shopping, especially among millennials and Gen Z. This has accelerated fashion ecommerce growth.

Technological: Advancements like AI, virtual try-on, mobile optimization etc. have enhanced the online shopping experience. Technologies like machine learning have enabled personalized recommendations and improved customer retention on fashion portals.

Key Takeaways

The Global UK Fashion Ecommerce Market Growth is expected to witness high over the forecast period of 2024 to 2031, expanding at a CAGR of 5.5% to reach by 2031 from US$35.94 Million in 2024.

Regional analysis:

The UK fashion ecommerce market is dominated by England, which accounts for over 60% share due to the high population and internet penetration in major cities. Scotland is the second largest regional market owing to rapid digitization and rising online spending.

Key players:

Key players operating in the UK fashion ecommerce market are Eaton Corporation, Philips Lighting, Hubbell Incorporated, Zumtobel Group AG, Thorn Lighting, Acuity Brands Lighting, Inc., Wipro Enterprises Private Limited, General Electric Company, Osram Licht AG, Feilo Sylvania, Nordlux A/S, Chalmit Lighting, Crompton Greaves Consumer Electricals Limited, Dialight plc, Glamox AS.

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