The U.S. fashion ecommerce market has witnessed tremendous growth over the past decade owing to the rising usage of smartphones and increased internet penetration in the country. Products such as apparel, shoes, bags and accessories are regularly purchased online by urban consumers due to the convenience and ease of browsing offered on ecommerce platforms. Additionally, factors such as same-day delivery options, personalized recommendations and wider choice of products at competitive prices have boosted online shopping habits among American customers.
The 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.
Key Takeaways
Key players operating in the U.S. fashion ecommerce 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. These players are focusing on strategies such as new product launches, partnerships and mergers & acquisitions to strengthen their market position.
The key opportunities in the U.S. Fashion Ecommerce Market Demand include personalized recommendations, AR/VR trials, social shopping features and buy online pick-up in store options. Such innovations help augment customer experience and boost repeat purchases. Popular ecommerce platforms are also tapping into live stream shopping, which allows influencers to model and demo products in real-time for customers.
U.S. fashion retailers are expanding globally with international shipping options to cater to the rising demand from other regions. cross-border shopping is emerging as a major trend with online sites allowing purchases in different currencies and languages. Several American brands are also opening dedicated regional online stores and apps to satisfy local consumer preferences in countries like Mexico, Canada, UK and China.
Market Drivers
Rising disposable incomes: Growing wages and improved standard of living has enhanced discretionary spending power of American households on apparel, footwear, accessories and personal care products. This drives higher online shopping activities.
Social media and influencer marketing: Digital natives are greatly influenced by celebrity endorsements and peer recommendations on Instagram and other platforms. Ecommerce companies leverage social selling highly effectively to promote new launches and collections.
Market Restraints
Cybersecurity concerns: Despite advanced encryption protocols, online transactions hold slight risk of payment data theft through hacking attempts on retailer servers. This discourages some customers from online shopping.
Delivery and return issues: While one-day delivery is common in metros, it may take longer in remote areas. Moreover, returning unwanted items to online stores involve shipping costs and efforts, unlike brick-and-mortar stores. This dissatisfaction impacts repeat purchases.
Segment Analysis
The U.S. fashion ecommerce market comprises sales of apparel, footwear, and accessories through online channels. The apparel sub segment dominates the market currently due to rising popularity of athleisure and casual wear brands. Consumers prefer buying apparel products online due to affordability and convenience.
Global Analysis
Regionally, the western region dominates the U.S. fashion ecommerce market currently due to high internet penetration and smartphone usage. States like California, Texas and Florida contribute significantly to online fashion sales in the country. The southern region is expected to grow the fastest during the forecast period owing to rising disposable incomes and increasing adoption of online shopping among urban populations in states like Georgia and North Carolina. Key players are focusing on these high growth areas through strategic partnerships and promotional campaigns.
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