The fashion ecommerce market in the U.S. has witnessed significant growth over the past few years owing to the growing popularity of online shopping. Fashion products sold via ecommerce channels include apparel, footwear, accessories, and beauty products that are purchased online. Online fashion retailers offer a wide variety of products at competitive prices along with the convenience of purchasing from the comfort of one’s home. This has made ecommerce an attractive medium for purchasing fashion products. The COVID-19 pandemic further accelerated the adoption of online shopping as people were encouraged to stay indoors amid lockdowns and restrictions on mobility.
The global U.S. fashion ecommerce market is estimated to be valued at US$ 108.01 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends
Growth of Social Commerce
Social media platforms have emerged as an important channel for fashion brands and retailers to connect with customers. Rise of social commerce enables brands to leverage social media networks to not just market products but also allow users to browse and purchase products directly via platforms. Facebook, Instagram and Pinterest have social shopping features that are boosting fashion sales through social networks. Leveraging the reach of social media is a key trend in the U.S. fashion ecommerce industry.
Porter’s Analysis
Threat of new entrants: The threat of new entrants into the U.S. fashion ecommerce market is moderate as it requires high initial investment and established brands have strong customer loyalty.
Bargaining power of buyers: The bargaining power of buyers is high given the large number of existing players and ease of shifting loyalty to other brands online. Customers can easily compare prices and offerings.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material suppliers and brands can choose to work with alternate suppliers in case of pricing issues.
Threat of new substitutes: The threat of new substitutes is moderate as while other online shopping categories exist, fashion has strong customer following for specific brands.
Competitive rivalry: Competition in the U.S. fashion ecommerce market is high given the presence of major brands and ease of entry of new D2C brands.
Key Takeaways
U.S. Fashion Ecommerce Market Demand is expected to witness high growth over the forecast period driven by rising online shopping and influence of social media.
Regional analysis: The Western region is expected to continue dominating the U.S. fashion ecommerce market during the forecast period owing to high affinity towards new trends. States like California, Washington are growing rapidly in fashion ecommerce adoption. The Southern region is also expanding at a notable pace led by emerging customers in cities like Texas and Florida.
Key players: Key players operating in the U.S. fashion ecommerce market are 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. Players are focusing on enhancing virtual try-on features and personalized recommendation engines to boost consumer shopping experience.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it