The eCommerce Fashion Industry is Taking the World by Storm
Over the past few years, eCommerce has made its mark and contributed considerably to global retail sales. As with almost all aspects of society, the retail space has experienced major change as a result of the internet and COVID-19. This has given rise to an increasing number of consumers from all over world having direct access to purchasing online. However, some industries within eCommerce, such as fashion retail, seem to be thriving more so than others. Leading professional services firm, Deloitte, shares how the fashion and electronics sectors seem to be the most popular in the African region. This article therefore focuses specifically on how the eCommerce fashion industry is taking the world by storm.
We’ll be taking a closer look at the following things:
1. Fashion eCommerce Growth
Although the fashion retail sector, along with many other industries within eCommerce, have been affected by COVID-19, it continues to uphold the title of being the largest B2C eCommerce market segment. Furthermore, according to Statista, its global size in 2020 was estimated to be around US$752.5 billion. The segment has high expectations to live up to, with an anticipated 7.2% growth per year, reaching an overall market size of US$1.0 trillion by the end of 2025.
2. Interesting Trends
Fashion has continually played a role in the ever changing dynamic of the world, however with less people going out, and more people working from home, the seasonality of clothing we would usually see, has somewhat disappeared. Instead, more long-term, sustainable trends seem to be the next big thing.
Lets take a closer look at some interesting fashion trends from 2020/2021:
If you still haven’t got the memo that athleisure wear is in, where have you been hiding? This is probably the most popular fashion trend of 2020/2021, and for obvious reasons. With all fitness centres, gyms, and at times parks and promenades, being restricted, people turned to exercising within the comfort of their own homes in trendy clothing. Besides this, it was found that a fifth of US consumers bought athleisure to wear casually and for comfort purposes.
Genderless & Seasonless Fashion
Other popular trends that have taken the world by storm over the past year and a half are genderless and seasonless fashion.
Although inclusivity has been a concern for many years, genderless fashion is finally starting to take off. According to Phluid Project founder, Rob Smith, 56% of Generation Z consumers shop “outside their assigned gendered area.” As a result, we are seeing an increase in large retailers such as H&M and Zara, releasing genderless collections.
Moreover, another trend that was popular pre-pandemic, but that has now gained much traction, is seasonless fashion. Many large retailers have done away with seasonal fashion lines, due to the mere fact that people aren’t spending enough time out. Although this may be upsetting news to some, it’s good to know that using a piece of clothing for an extra 9 months, reduces your carbon footprint by up to 30%.
3. Top Fashion Retail eCommerce Companies
But now for the important part, which fashion retailers are contributing to the domination of the eCommerce industry? Let’s take a closer look at the following brands:
- Fashiola is an online fashion browsing tool, that allows customers to view products from various online stores.
- Partnering with Fashiola as an online store, would mean that you would pay them a percentage of your sales.
- ShoppingFeeder has integrated with Fashiola, to allow you to seamlessly upload your product data to the Fashiola site. If you’re interested in integrating with Fashiola, contact [email protected], and we’ll gladly assist.
- Boohoo is a UK-based online fashion retailer aimed at 16-30 year olds.
- Unlike Fashiola, Boohoo specialises in own brand fashion clothing, with over 36 000 products.
- Shein is an online fast fashion retailer, that was founded in China in 2008.
- It currently serves over 200 countries.
- Like Boohoo, Shein only sells own brand fashion products, which are directly manufactured in China.
- Amazon is a well known American eCommerce company that sells products across various departments.
- Similar to Fashiola, Amazon sells products from a number of other eCommerce stores.
- If you’re wanting to list your products on Amazon, you can easily sign up to the channel and upload your product data by using ShoppingFeeder.
Some industries within eCommerce seem to be thriving more so than others. This article looked at how the eCommerce Fashion Industry is Taking the World by Storm. Interesting trends such as athleisure wear, genderless fashion and seasonless fashion have seemed to ignite a spark within the fashion industry. We looked at a few top fashion retail eCommerce companies, such as Fashiola, Boohoo, Shein and Amazon.
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