Online Apparel Retailing Market to grow at a CAGR of 10.61% by 2025: Technavio
27 November 2021: The online apparel retailing market and is set to grow by USD 87.45 billion from 2020 to 2025, progressing at a CAGR of 10.61% according to the latest report by Technavio.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Alibaba Group Holding Ltd., Amazon.com Inc., ASOS Plc, Cotton On Group, Dolce & Gabbana Srl, Gildan Activewear Inc., JD.com Inc., Kering SA, Levi Strauss and Co. and The Gap Inc. are some of the major market participants.
The rising popularity of digital payment systems, rise in online spending and smartphone penetration, and the growth in the e-commerce industry will offer immense growth opportunities. However, the increased return of online products will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Regions & Revenue Generating Segment
– 39% of the market’s growth will originate from APAC. China and Japan are the key markets for online apparel retailing in APAC. A high population increased disposable income, and a wide array of product offerings will facilitate the online apparel retailing market growth in APAC.
– The online apparel retailing market share growth by the upper wear apparel segment will be significant for revenue-generating. The upper wear segment accounts for considerable market share in the global online apparel retailing market, as it enjoys a relatively small replacement cycle. This segment includes shirts, t-shirts, coats, jackets, etc. The improving economy and the increasing population are key factors expected to drive the growth of the upper wear segment.