Executive Summary The COVID-19 pandemic has accelerated the existing trend of online purchases and also boosted the online apparel market and it is expected that the trend will continue post the pandemic.
New York, July 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Online Apparel Market: Analysis By Price Range (Low, Medium, Premium), Model Type, End User, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)" - https://www.reportlinker.com/p06102464/?utm_source=GNW
The penetration of online apparel retail has increased in the year 2020 compared to 2019 in most of the markets with the global online apparel market penetration increased from 19% in 2019 to 28% in 2020. With the growing penetration of online apparel sales trends in various countries, the leading and niche online apparel retailers will continue to leverage the opportunities in the market with their resources and technology.
The global online apparel market is characterised by major acquisition spree with major apparel brands choosing the inorganic path of growth to expand product portfolio and increase markets share. Asos acquired the top brands of Arcadia that includes Topshop, Topman, Miss Selfridge and HIIT. Also, Boohoo acquired Debenhams.com and increased its portfolio of brands. These acquisitions will help the companies to boost margins and profits in a very short period of time.
The Global Online Apparel Market was valued at USD 558.70 Billion in the year 2020. Meanwhile, one of the drivers of the Online Apparel market is the adoption of the digitalisation in the Online Apparel Market. The most successful companies deliver a world-class customer experience by removing all the friction for consumers. This begins with replacing the hassle of haggling with transparent and upfront pricing. While there has been a slow shift towards the digitization of records over many years, the trend of E-commerce is increasing with a greater pace and this is tending to propel the Online Apparel Market as people are getting more flexibilities and ease of access.
Low Price Range Online Apparels are expected to hold the major share of Online Apparel Market. In the countries with low economy, generally people tend to buy clothes for less price because they provide much value to the Online Apparel market. At that price, the customer gets a good discount for the apparel and there are also lots of offers which make that buy worthy. Business-to-Business Model Type Online Apparels is expected to hold a very larger market share of Online Apparel Market than Business-to-Consumer Model Type. But nowadays people are moving towards the Business-to-Consumer Model Type as they provide lucrative offers and also the apparels are much cheaper.
Scope of the Report
• The report presents the analysis of Online Apparel Market for the historical period of 2016-2020 and the forecast period of 2021-2026.
• The report analyses the Online Apparel Market by Price Range (Low, Medium, Premium).
• The report analyses the Online Apparel Market by Model Type (Business-to-Business, Business-to-Consumer).
• The report analyses the Online Apparel Market by End User (Men, Women, Kids).
• The Global Online Apparel Market has been analysed By Region (United States, Canada, Mexico, Germany, United Kingdom, France, Italy, China, Japan, India).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by Price Range, by Model Type, by End User, by region.
• Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new Price Range development. The companies analysed in the report include: Asos PLC, Amazon, H&M, Boohoo PLC, Nike, Macys Inc., Zara, Gap Inc., Next PLC, Mark and Spencer.
Key Target Audience
• Online Apparel Companies
• Consulting and Advisory Firms
• Government and Policy Makers
• Regulatory Authorities
Read the full report: https://www.reportlinker.com/p06102464/?utm_source=GNW
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