U.S. Fashion Ecommerce Market Driven by Growing Demand for Convenient Shopping Experience

U.S. Fashion Ecommerce Market Driven by Growing Demand for Convenient Shopping Experience

The U.S. fashion ecommerce market has witnessed significant growth in the recent years due to growing preference of customers towards online shopping over traditional brick and mortar stores. This shift is majorly attributed to the growing demand for a convenient shopping experience where customers can browse through a wide range of fashion products sitting in the comfort of their homes and get the products delivered right at their doorsteps. The online fashion platforms offer customers huge varieties of apparels, footwear, accessories and beauty products from numerous brands. This gives the customers flexibility to compare prices and make well informed purchase decision.

The global U.S. Fashion Ecommerce Market is estimated to be valued at US$ 124.54 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
 Fashion and clothing brands are extensively using social media platforms like Instagram, Facebook and Snapchat to market their products and run promotional campaigns. Attractive images and videos are shared on these platforms to engage customers and influence their purchase decisions. Live streaming has also emerged as a popular trend where influencers showcase and review fashion products in real-time which helps customers make instant purchase. This social selling approach has proven effective in improving brand awareness and sales conversions for online retailers.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as the U.S. fashion ecommerce market is growing rapidly. However, established brands have strong brand recognition and economies of scale.

Bargaining power of buyers: The bargaining power of buyers is high as there are numerous fashion retailers online. Buyers can easily compare prices and switch between retailers.

Bargaining power of suppliers: The bargaining power of suppliers is moderate. While a few major retailers account for the bulk of sales, there are many domestic and international clothing suppliers.

Threat of new substitutes: The threat of substitutes is low as online fashion shopping offers convenience over traditional retail stores.

Competitive rivalry: Competition is intense among major online fashion brands.

Key Takeaways

The Global U.S. Fashion Ecommerce Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The market size for 2024 was estimated at US$ 124.54 billion and projected to reach US$209.14 billion by 2031, registering a CAGR of 6.2%.

Regional analysis: The Western and Southern regions of the U.S. are expected to be the fastest growing regions for fashion ecommerce. California and New York account for the majority share due to high spending power and tech-savvy population.

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.

For more Insights, Read –
https://www.newswirestats.com/u-s-fashion-ecommerce-market-market-size-and-share-analysis/
 
Check more trending articles related to this topic:
 
https://masstamilan.tv/automotive-parts-remanufacturing-an-environmental-friendly-and-cost-effective-solution/