Online Fashion Retail Market in the US 2016-2020
- Published: Apr 2016
- Pages: 63
- SKU: IRTNTR8710
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This industry research report presents a detailed segmentation of the online fashion retail market in the US by product (apparel, footwear, and accessories; and home furnishings and furnishings). It also presents a detailed analysis of the key vendors and their market shares, including Amazon, Walmart, L Brands, Gap, IKEA, and Macys.
Outlook of the online fashion retail market in the US
Online retail is a part of B2C e-commerce and typically refers to commercial activities that are carried out over the Internet. The market for online fashion retail in the US is anticipated to witness steady year-over-year growth during the forecast period and is positively affected by the changing purchasing behavior of the US consumers. The recent rise in online spending is a critical factor that spurs the prospects for growth in this market during the forecast period. In the US, the average amount of money spent online per transaction and the number of transactions that take place online are on the rise. Benefits such as the availability of a vast array of products online and the time-saving aspects of online shopping will encourage consumers in the US region to purchase fashion related products online. Due to the advent of security features for online payments, free delivery facilities, improved online customer service, and easy-to-navigate shopping websites, the market for online fashion retail in the US will post an impressive CAGR of more than 14% during the predicted period.
Technavio’s market research analyst has estimated eminent factors, such as the growing popularity of the Omni-channel retailing strategy, to impel market growth during the estimated period. Omni-channel retailing offers consumers the option to shop online and pick up the merchandise from the store nearest to their location on the same day. In this mode of retailing, the retailers utilize their physical stores as distribution centers for online purchases. The introduction of initiatives like ship-from-store, reserve-in-store, and order-in-store programs will help to bolster the sale of fashion related products during the predicted period.
Product-based segmentation of the online fashion retail market in the US
- Apparel, footwear, and accessories
- Home furnishings and furnishings
The apparel, footwear, and accessories product segment dominated this market during 2015 and is envisaged to further enhance its hold over the market by 2020 owing to the growing utilization of online advertising, e-mail, and social media marketing platforms to attract customers. The increasingly busy lifestyles of consumers have resulted in more consumers opting for the online channel to shop for apparels, footwear, and accessories at their convenience. Comprehensive segmentation analysis carried out by the analysts at Technavio has shown that the apparel, footwear, and accessories product segment will account for a profound market share of more than 86% by 2020.
Competitive landscape and key vendors
The online fashion retail market in the US is highly competitive due to the presence of both international and domestic suppliers. With the rising level of competition, manufacturers have been compelled to introduce new product lines in the market to meet the buying trend among the consumers. Factors such as recent product launches, price wars, and mergers and acquisitions will augment the level of competition in this market.
Key vendors in this market are -
- L Brands
Other prominent vendors analyzed are Academy Sports + Outdoors, ATG Stores.com, Backcountry.com, Best Buy, Costco, CustomInk, Eastern Mountain Sports, Factory Green, Ideel, J.C. Penney, and Target.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the online fashion retail market in the US?
- What are the key market trends impacting the growth of the online fashion retail market in the US?
- What are the challenges to market growth?
- Who are the key vendors in the online fashion retail market in the US?
- What are the market opportunities and threats faced by the vendors in the online fashion retail market in the US?
- What are the trending factors influencing the market shares of the US?
- What are the key outcomes of the five forces analysis of the online fashion retail market in the US?
Technavio also offers customization on reports based on specific client requirement.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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