Hassle-free return processes, broad product ranges with regards to colors, sizes and styles and free shipping offers.
Benefits that come in handy when shopping online. Early on, and before the internet was omnipresent, it had already been quite common to buy fashion items via alternative purchasing channels like mail order catalogs or home shopping. Being able to cooperate with popular fashion influencers and offering personalized outfit-suggestions are just a few benefits to keep in mind when speaking about the growing role of online shops in eCommerce. For getting an impression of the market size, we are taking a look at the revenue of the three major regions China, Europe and the US.
With a volume of US$164.22 billion China has been by far the largest online fashion market in 2017. On second was Europe with a volume of US$101.15 billion, followed by the US with US$80.96 billion in 2017.
The global segment size equals almost US$408 billion. Facing a compound annual growth rate of +11.6% the future looks promising. The global segment size in 2022 is expected to be US$706.6.
China will remain on first place in 2022. Following a CAGR of +14.1% the revenue is expected to reach US$318.04. Still on second place Europe, with an expected revenue of US$ 153.64 and a CAGR of +8.7%. Also the CAGR is slightly higher (+8.8%) compared to Europe, the US is still on third place with an expected revenue of US$123.40.
(CAGR: Compound Annual Growth Rate / average growth rate per year)
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As of February 2018