Coronavirus Restrictions Drive The Fashion E-Commerce Market As Per TBRC's Fashion E-Commerce Global Market Report 2021: COVID 19 Growth And Change to 2030

Segments covered: By Product – Apparel/Clothing, Accessories, Footwear, Cosmetics, Others; By End User – Men, Women, Children; By Model Type – Business to Business (B2B), Business to Consumer (B2C)

LONDON, April 20, 2021 (GLOBE NEWSWIRE) -- Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact:

According to The Business Research Company’s research report on the fashion e-commerce market, the unprecedented outbreak of coronavirus is expected to support the growth of the online shopping market in the forecast period. COVID-19 is a highly infectious disease that spreads when a person comes in contact with an infected person or a surface used by the infected person. To prevent the spread of the virus, governments across the world have implemented lockdowns and advised people to practice social distancing. Many countries have placed restrictions on intra-country movement. These lockdowns have increased the demand for fashion e-commerce, as people are anxious to shop at retail stores. For example, a UK based online fast-fashion company Boohoo reported a 45% rise in sales in the three months through May 2020. During the pandemic, consumers find it safer to order clothes and accessories online rather than going outside to physical stores, which is expected to continue in the forecast period, thus supporting the growth of the market.

The global fashion e-commerce market is expected grow from $549.55 billion in 2020 to $668.1 billion in 2021 at a compound annual growth rate (CAGR) of 21.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The e-commerce fashion market size is expected to reach $1207.23 billion in 2025 at a CAGR of 16%.

E-commerce fashion industry analysis shows Asia Pacific to be the largest region in the global fashion e-commerce market, accounting for 32.0% of the total in 2020. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the fashion e-commerce market will be the South America and Middle East, where growth will be at CAGRs of 16.7% and 15.7% respectively during 2020-2025. These will be followed by Africa and Eastern Europe, where the markets are expected to grow at CAGRs of 13.1% and 12.1% respectively.

The Business Research Company’s report titled Fashion E-Commerce Global Market Report 2021: COVID 19 Growth And Change to 2030 covers major fashion e-commerce companies, fashion e-commerce market share by company, fashion e-commerce manufacturers, fashion e-commerce market size, and fashion e-commerce market forecasts. The report also covers the global fashion e-commerce market and its segments.

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The increasing awareness about internet shopping and e-commerce is expected to support the growth of the fashion e-commerce industry through 2023. The global access to the internet in general leads to an increase in e-commerce awareness among the global population, and the industry will benefit from this growing internet penetration globally. According to Cisco, global internet penetration will rise to 58% by 2021, compared to 44% in 2016. Social media technologies are also expected to aid fashion e-commerce companies to promote their goods and services directly to the customers. Following the affordable and expanded access to the internet, social media platforms, online industry-specific magazines and forums, consumers’ awareness about fashion goods such as fashion accessories, clothes, shoes, other luxury goods is expected to increase, thus benefitting the market going forward.

Fashion E-Commerce Global Market Report 2021: COVID 19 Growth And Change to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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