U.S. Fashion Ecommerce Market is Estimated to Witness High Growth Owing to Opportunity of Rising Online Fashion Spending

U.S. Fashion Ecommerce Market

                                   



The U.S. fashion ecommerce market comprises of various fashion items including apparel, footwear, beauty and personal care products primarily sold through online retail platforms. Fashion ecommerce provides consumers with wide variety of options along with convenience of online shopping from homes. Rising penetration of smartphones and internet has made online shopping more accessible, especially for fashion items.


The global U.S. Fashion Ecommerce Market is estimated to be valued at US$ 108.01 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The key opportunity driving the growth of the U.S fashion ecommerce market is the rising online spending on fashion products. According to statistics, the online fashion sales in the U.S. increased dramatically to $87.4 billion in 2021 from $69.1 billion in 2020, reflecting strong consumer preference for online shopping. The COVID-19 pandemic has further accelerated this ongoing trend as more customers switched to ecommerce platforms for safety and convenience. Growing millennial population coupled with increasing penetration of internet and mobile commerce is projected to continue fueling the online fashion spending in the country.


Porter’s Analysis

Threat of new entrants: Low to medium as the market is saturated. However, new entrants with strong technological innovations may pose threat.
Bargaining power of buyers: High as buyers have many options to choose from. They can negotiate on price and quality.
Bargaining power of suppliers: Medium as there are many apparel and fashion brands supplying to ecommerce platforms.
Threat of new substitutes: Medium to high as offline retail and direct-to-consumer brands are substitutes.
Competitive rivalry: High due to intense competition among existing players.

SWOT Analysis
Strength: Dominant players have strong brand recognition, wide product assortment and loyal customer base. Ecommerce platforms enable easy shopping experience.
Weakness: High return rates increase operational costs. Dependence on few online shopping festivals for sales. Vulnerable to data theft and privacy issues.
Opportunity: Growth in smartphone and internet penetration will boost online sales. Emerging trends like personalized shopping provide new opportunities.
Threats: Stringent regulations can impact cross border sales. Shift to private labels by retailers pose pricing pressure.

Key Takeaways

U.S. Fashion Ecommerce Market Demand is expected to witness high growth. The market size is projected to reach US$ 108.01 Bn in 2024 registering a CAGR of 6.2% during the forecast period of 2023 to 2030.

Regional analysis indicates that Western and Central regions dominate the market currently due to high smartphone and credit card usage. The market is progressively gaining traction in Southern and Eastern regions as well.

Key players operating in the U.S. Fashion Ecommerce Market 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. Major players are focusing on strategic partnerships and new product launches to strengthen their market presence. 

Comments

Post a Comment

Popular posts from this blog

Security Robot Market is Estimated To Witness High Growth Owing To Increasing Demand for Enhanced Surveillance

Image
Security Robot Market The Security Robot Market is estimated to be valued at US$ 11.8 billion in 2022 and is expected to exhibit a CAGR of 12.87% over the forecast period of 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Security Robot Market encompasses advanced robotic technologies that are specifically designed and developed to enhance security and surveillance operations. These robots are equipped with features such as video surveillance, thermal imaging, facial recognition, and intrusion detection, among others. They are extensively used by security agencies and organizations across various sectors, including residential, commercial, industrial, and government, to enhance safety, reduce human intervention, and streamline security operations. Security robots offer real-time monitoring, remote control, and high accuracy, making them an ideal choice for surveillance in sensitive areas and remote locations. Market Dynamics:
Read more

The Ever-Evolving Landscape of the Scottish Whisky Market during the Forecast Period 2019-2027

Image
  Scottish Whisky Market The Scottish Whisky Market is a captivating landscape that has been evolving and transforming over the years. It is a world of tradition, craftsmanship, and heritage, where every drop of whisky tells a story. The history of Scottish whisky traces back centuries, with the earliest records dating back to the 15th century. Whisky production initially started in monasteries, where monks distilled spirits for medicinal purposes. Over time, whisky production moved from monastic settings to farms and then to commercial distilleries. This transition marked the beginning of an industry that would become synonymous with Scotland. Scottish Whisky Market Was Valued At US$ 4.97 Bn In 2018, And It Is Expected To Reach US$ 7.89 Bn By The End Of 2027, Exhibiting A CAGR Of 5.3% During The Forecast Period (2019 To 2027). One of the defining characteristics of the Scottish Whisky Market is its adherence to traditional production methods. Scotch whisky is made from malted b
Read more

Monochloroacetic Acid (MCAA) Market Is Estimated To Witness High Growth Owing To Increasing Demand for Surfactants and Herbicides

Image
Monochloroacetic Acid (MCAA) Market The Monochloroacetic Acid (MCAA) Market is estimated to be valued at USD 676.52 Million in 2022 and is expected to exhibit a CAGR of 7.03% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Monochloroacetic Acid (MCAA) Market is driven by the increasing demand for surfactants and herbicides in several industries such as agriculture, pharmaceuticals, textiles, and personal care. MCAA is extensively used in the production of surfactants, herbicides, and carboxymethyl cellulose (CMC), which are essential in various applications. These applications include detergents, agrochemicals, pharmaceuticals, dyes, and cosmetics, among others. The versatile properties of MCAA, such as its ability to act as a raw material in the production of herbicides and surfactants, make it highly desirable in the market. Market Dynamics: The Monochloroacetic Acid (MCAA) Market is driven by two k
Read more