A new report by Research and Markets has found that more than half of the global retail growth is projected to come from online sales between 2020 and 2025, as the global fashion market continues to shift towards the digital as covid-19 persists.
The platform’s annual Global Clothing B2C E-Commerce Market report further added that around 10 percent of digital sales are expected to be in the hands of the fashion industry. It noted the potentially most prominent players as Global Fashion Group and Asos, who both saw a sales growth of 10 to 20 percent from 2019 to 2020.
In 2021, the top-visited websites for purchasing apparel online were reportedly Amazon and Shein, with the latter declared as the most visited since August. Asos also topped the popularity chart in the UK, while Target closely followed Amazon in the US. In Germany, online-only retailers Zalando and Zooplus were among the most preferred.
According to the report, the online apparel market grew faster year on year in 2020 amid the pandemic, in contrast to the years before. In the US, online retail sales of apparel and accessories increased by nearly 19 percent, making it the fastest-growing product category in the region. This was similarly reported in both Japan and South Korea.