The Apparel and Fashion E-commerce Industry Synopsis

Date:

E-commerce in full is Electronic Commerce, it usually refers to the trading of goods and servers over the internet, it consists of business-to-business (B to B) commerce and business-to-consumer (B to C) commerce and very recent direct-to-consumer. Not going into much deep past, in 1979 e-shopping invented and during 1991 an adoption of internet and first WWW (World Wide Web) were introduced and first browser in 1993 and in 1994 the first secure transaction happened, it was this time while the SSL (Secure Socket Layer – keeping both the sides i.e., sending and receiving of online transaction secure through encryption, this was a beginning of proper e-commerce and internet become a truly commercial medium. During 1995 online market places started opening up such as Amazon, eBay etc. and soon by 1990 the ecommerce globally reaches to US$150 billion.

E-commerce is not only for fashion and apparel, e-commerce includes almost all the segments, everything is online and in e-commerce! But we are focusing on apparel and fashion in this article, as per the 2PM reports, 13 of the top 20 direct-to-consumer (DTC) brands are in the apparel and fashion industry, brands like SHEIN, Chewy and Gymshark make the shortlist, wherein shein.com is the most visited fashion/apparel e-commerce site in the world, proving the immense power fashion brands hold in the e-commerce space. Global fashion e-commerce market size in 2023 is around US$800 billion, it is a world’s leading e-commerce industry. Increasing use of internet on smartphone, globally growing demand, ease of shopping from anywhere anytime, lots of discount offers, verities and qualities etc. contributes to further increase of e-commerce and thus future will create new milestones for the business and revenue of this segment, it is expected to reach around US$1 trillion by 2025.

Daily news of global textile apparel fashion industry at textilesresources.com. latest article about e-commerce industry for apparel and fashion, market places and ecommerce sites.
The Apparel and Fashion E-commerce Industry Synopsis

If we see a geography wise contribution, China is the largest market share of around US$400 million, followed by United States, United Kingdom, Germany and Japan, these are the top five. If we see the top companies list, Zalando has the highest market cap, around US$6.5 million, second is VIP Shop from China, and The RealReal from United States is third in revenue. Other leading e-commerce companies are The Hut Group (UK), About You (Germany), ASOS (UK), Boohoo.com (UK), Stitch Fix (US), Global Fashion Group (Luxembourg) and Revolve (US). Amazon is the largest market place, almost 55% of the product searches still start on Amazon hence this is the place where consumers start their shopping journey. Well, its not easy to make your products/brands fast sellable or generate higher revenue, you need a team, technologies, techniques, strategies etc. to get your products/brands highly searched and sold, to help you in this front, there are consultant/companies providing relevant services, that is also a huge industry and a segment we all should know about, I shall write a separate article on it later.

Almost all the brands/suppliers/retailers are active on e-commerce and trying their best to survive and scale-up either their own e-commerce sites/online business or being available on various market places or both, thus it’s a cut-throat competition. One should adopt new technologies, new strategies, new techniques, new trend to win this game, few of the new are: Live stream shopping, Unique and rich editorial style, Discounts and flash sales, easy UI/UX understand and anticipate needs with better product discovery for example adding a product video to let the consumers visualize fabric texture and garment fall, showcase your brand/product with social/environmental care initiatives such as sustainable, eco-friendly, no child labor, ethical manufacturing and sourcing, save water and soil, more personalized structure and services.

Going forward, we will see new ventures, new technologies and new trends in e-commerce industry creating better experience for shoppers and also creating more jobs in the industry.

Bhargav Pathak
Bhargav Pathakhttps://textilesresources.com
www.textilesresources.com is not just a blog, but it is my passion towards textile/apparel/fashion industry. After having studied at NIFT (National Institute of Fashion Technology) at Gandhinagar campus, and associated with NDBI (National Design Business Incubation) at NID (National Institute of Design) Ahmedabad campus, I started my long journey into this field. Since 2006, I had worked for various corporates either into B2B, B2C, SaaS or AI base products/concept/services related to mostly textiles/apparel/fashion industry, and having main responsibilities are sales/revenue generator and bd. During July2023, a thought came in my mind to launch a knowledge-based website, you can also call it a blogging site, wherein users can read latest news and happenings and articles about global textiles/apparel/fashion and stay abreast. At the moment, this site is having mainly two features: News and Articles, going forward I shall also add Interviews (text/audio/video) Trade Fair calendar (this calendar is being updated as per the organizers schedule, however I request to crosscheck with organizer before any decision) , therefore, I have launched this venture in July2023, and thanks to the visitors, the site is growing every day. We have recently launched a new feature as Business Directory wherein the suppliers/manufacturers can create their profile and upload products for better exposure. You can also follow TextilesResources.com on Linkedin: https://www.linkedin.com/company/textilesresources/

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Australia Likely To Follow European Sustainable Practices In Wake of Proposed Ultra-Fast Fashion Bans

In March 2024, France’s lower house of parliament unanimously...

GLOBAL AUDIENCE OF DECISION-MAKERS FIRM UP INVESTMENT PLANS AT FESPA 2024

Co-located events unveil innovations and new markets for business...

Successful collaboration: Groz-Beckert and Santoni develop innovative INNOTAS knitting system

Albstadt, Germany / Brescia, Italy: In recent years, Italian...

ISPO Shanghai 2024

ISPO Shanghai 2024. 28 - 30 June 2024. SNIEC...