Online Apparel Retailing Market – Overview
The excessive penetration of smartphones coupled with emergence of a large number of online apparel retailers that offer a wide selection of clothing are some key factors fueling the online apparel retailing market. The convenience of shopping from the comfort of homes or any other location of choice is an attraction for consumers that is favorable for online apparel retail sales.
The report studies the online apparel retailing market on the basis of product type, end user, company, and region. Key segments into which the online apparel retailing market is divided based on product type are upper wear, bottom wear, and others. The upper wear segment displays leading demand among other product types in the online apparel retailing market. Upper wear segment includes shirts, t-shirts, jackets, and coats that have short replacement cycle and are needed in more numbers.
Key end users into which the online apparel retailing market is divided are men, women, and children.
The report provides an in-depth analysis of the online apparel retailing market including demand dynamics, key segments, and competitive scenario of the said market for the forecast period from 2021 to 2031. The report delves into key regions of the online apparel retailing market and projections of growth rate for the forecast period from 2021 to 2031. Insights into growth strategies of key players in the online retailing market and their market share is a highlight of this report.
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Online Apparel Retailing Market – Key Trends
The outbreak of COVID-19 and close down of physical apparel stores led to switch to the online channel for the purchase of various types of clothing. Strict restrictions to stay at home to contain the spread of the virus led individuals led individuals to browse online stores for the purchase of everyday needs including apparel. This stimulated the online apparel retailing market.
The role of online apparel retailers to provide a convenient shopping experience as well as use of technology for safe transaction is favorable to the growth of online apparel retailing market. Online apparel retailers provide safe online payment gateway, online customer services, and damage-free delivery that attract consumers to opt for online apparel retail purchase.
The growing middle-class population in urban areas of emerging economies who are equipped with smartphones are emerging as key consumers of online sales. The novelty of browsing online retail stores for apparel and other consumer goods and the convenience of purchase, payment, and doorstep delivery at the click of few buttons is an attraction for this population class. This is strengthening growth in the online apparel retailing market.
Online Apparel Retailing Market – Competitive Landscape
The online apparel retailing market is competitive with the presence of a very large of vendors for online apparel sales. Large apparel brands, designer brands, as well as small and mid-sized stores now have online presence either via their own website or via aggregated sites that is favorable to the online apparel retailing market.
Some key players operating in the online apparel retailing market are Alibaba Group, JD.com, Walmart, Benetton, Diesel, DKNY, Levi Strauss, Wovenplay, Amazon.com, Rakuten, American Apparel, a Cotton On, Dolce & Gabbana, Giodano International, and Ralph Lauren.
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Online Apparel Retailing Market – Regional Dynamics
Asia Pacific is emerging as a key region in the online apparel retailing market. The expanding middle-class population in India that are increasingly having access to digital technologies for everyday functioning is favorable to the online apparel retailing market in the region. The wide selection of clothing to suit different budgets, convenient shopping, and doorstep delivery is attractive to opt for online mode for purchase of apparel.
North America is an established market for online apparel retailing. The vast penetration of smart electronics and excessive spending on consumer goods are some key factors fueling the online apparel retailing market in the region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.