Global Fashion Ecommerce Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Global Fashion Ecommerce Market Analysis

The global Fashion Ecommerce market size was valued at US$ 691.56 billion in 2023 and is expected to reach US$ 1,626.97 billion by 2030, grow at a compound annual growth rate (CAGR) of 13% from 2023 to 2030. E-commerce platforms enable customers to purchase fashion products such as apparel, footwear, accessories, and beauty products online. The market is driven by growing internet and smartphone penetration, convenience, and flexibility of online shopping.

The Global Fashion Ecommerce Market is segmented by business model, product type, end-user, price range, device used, and region. By business model, the market is categorized into B2C, B2B, C2C, B2A, C2B, and B2E. The B2C segment accounted for the largest share in 2022. B2C e-commerce provides greater convenience and wider choice to customers for purchasing fashion products.

• The rapid growth in internet and smartphone penetration globally is a major factor driving the fashion ecommerce market. Internet penetration enables consumers to access ecommerce sites and apps easily through their mobile devices from anywhere to search, browse, and buy fashion products conveniently. Developing regions are witnessing an exponential rise in internet users. Smartphone adoption is also surging rapidly, allowing quick access to shopping apps and mobile-friendly websites. Fashion brands are optimizing their platforms for mobile shopping. The convenience and flexibility offered by mobile-based fashion shopping is propelling market growth.
• The rapid growth in internet and smartphone penetration globally is a major factor driving the fashion ecommerce market. Internet penetration enables consumers to access ecommerce sites and apps easily through their mobile devices from anywhere to search, browse, and buy fashion products conveniently. Developing regions are witnessing an exponential rise in internet users. Smartphone adoption is also surging rapidly, allowing quick access to shopping apps and mobile-friendly websites. Fashion brands are optimizing their platforms for mobile shopping. The convenience and flexibility offered by mobile-based fashion shopping is propelling market growth.
• For instance, In March 2022, Myntra launched Myntra Beauty - its dedicated beauty e-commerce platform. The launch strengthens Myntra's position in the online beauty segment.
• For instance, In January 2022, Amazon India announced the launch of its dedicated grocery shopping app Amazon Fresh for its Prime members. The app provides a seamless online grocery shopping experience.