, /PRNewswire/ -- Report with market evolution powered by AI - The online fashion retail market in us size is estimated to grow by USD 294 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 16.82% during the forecast period. Rise in online spending is driving market growth, with a trend towards growing online sports apparel and footwear industry. However, rising security and privacy concerns related to consumer data poses a challenge. Key market players include Adidas AG, Amazon.com Inc., ASOS Plc, Backcountry.com LLC, Costco Wholesale Corp., Forever21 Inc., Frasers Group plc, Industria de Diseno Textil SA, Nike Inc., Nordstrom Inc., Penney OpCo LLC, PVH Corp., Ralph Lauren Corp., The Gap Inc., and Under Armour Inc..

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Market Driver

The US online retail market is booming, with fashion segment sales reaching an all-time high. Clothing, shoes, and accessories are top categories, driven by tech advancements in fashion e-commerce. Digital shelf analytics helps online businesses optimize their apparel and footwear offerings. Gen Z and millennials dominate the market, favoring mobile commerce and digital wallets. Sustainability and the resale ecosystem are trending, with subscription clothing boxes and app downloads on the rise. Jewelry, watches, and luxury goods are also popular, with a focus on hyper personalization and omnichannel retail. Transparency and traceability are key, as is the integration of digital fashion, NFTs, and social media marketing. Influencer-based live streaming and social-media platforms are driving digital demand. Fashion leaders and executives are embracing these trends to engage online shoppers through digital channels. Athletic apparel and loungewear are current shopping patterns shaping the fashion landscape. 

E-commerce platforms provide significant benefits for sportswear brands in the US market. Unlike physical retail stores, such as multi-brand shops, apparel stores, hypermarkets, supermarkets, and department stores, e-commerce sites offer consumers convenience and access to a vast selection of sportswear. Consumers appreciate the ease of placing orders online, which is accessible 24/7. Additionally, e-commerce platforms offer services like same-day delivery and various discounts that are not available in traditional retail stores. Pre-paid orders enable users to schedule deliveries according to their preferences. In the last two years, due to the COVID-19 pandemic, many sportswear brands have shifted their focus to digital strategies, making their sports apparel and footwear available on e-commerce platforms. 

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Market Challenges

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Segment Overview 

This online fashion retail market in US report extensively covers market segmentation by 

1.1 Women- The online fashion retail market in the US is experiencing significant growth, with the women's segment holding the largest share. Social media influence and celebrity endorsements are driving demand for women's apparel, footwear, bags, and accessories. Increasing disposable incomes and female workforce participation are also contributing factors. Brands like Ann Inc., Ralph Lauren, and M.M.LaFleur cater to this segment, offering formal wear and luxury apparel. However, concerns over the fashion industry's environmental impact are leading to the rise of sustainable and ethical fashion companies, such as MATE the Label, which produces organic, ethically sourced, and locally made apparel for women. These trends are expected to shape the online fashion retail market in the US during the forecast period.

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Research Analysis

The online retail sales market in the US fashion segment continues to thrive, with clothing, shoes, and accessories leading the charge. Tech advancements have revolutionized fashion e-commerce, enabling digital shelf analytics and personalized shopping experiences. Apparel and footwear brands are embracing digital platforms to reach online shoppers, with luxury fashion also gaining traction. Gen Z and millennials are driving the demand for fashion through social media marketing and influencer-based live streaming. Non-fungible tokens (NFTs) are the latest trend, offering unique digital ownership experiences. Fashion leaders and executives are adapting to these changes, leveraging online businesses to innovate and meet evolving shopping patterns. Athletic apparel and loungewear remain popular categories, while shopping patterns continue to shift towards convenience and personalization. Worldpay and other payment solutions facilitate seamless transactions, ensuring a frictionless shopping experience for consumers.

Market Research Overview

The online retail sales market in the US fashion segment continues to grow, with clothing, shoes, and accessories leading the charge. Tech advancements have revolutionized fashion e-commerce, enabling digital shelf analytics and personalized recommendations. Apparel and footwear brands are embracing the digital age, offering luxury fashion for Gen Z and millennials through digital wallets and mobile commerce. Sustainability and the resale ecosystem are also gaining traction, with subscription clothing boxes and app downloads driving innovation. Jewelry, watches, and luxury goods are also thriving online, with a focus on hyper-personalization and omnichannel retail. Data analytics and transparency and traceability are essential for building customer loyalty in the fashion landscape. Digital fashion, NFTs, and social media marketing, including influencer-based live streaming, are shaping the future of online retail. Online businesses and fashion executives are leveraging digital platforms to meet the demands of shoppers seeking convenience, choice, and a seamless shopping experience. Shopping patterns are evolving, with athletic apparel and loungewear leading the charge, and the fashion industry continues to adapt to the digital age. A recent survey revealed that retailing through digital channels is the new norm, with online shoppers increasingly relying on social-media platforms for discovery and inspiration.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Geography
• North America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio