Global Online Apparel & Footwear Market Overview:
An online market is a platform for selling products and services through a website or through a digital mode by providing relevant information about products and services by multiple third parties. The online apparel and footwear market is a platform for selling apparel and footwear through a website. With the growing adoption of technology across industries and the increase in the use of smartphones, the online selling of different products and services is on rising. Potential customers are search and browse apparel and footwear, compare prices and quality and then purchase directly from the seller. This online market is characterized by low setup costs for retailers, wider audience coverage, and no trade boundaries. Therefore, the online apparel and footwear market are currently very popular among the millennial.
- Increase in the internet access the globe
- The rise in the disposable income of consumers
- The rise in the population of youth
- Digital payment failure while purchasing online
- Increase in the problems regarding the quality of products while online purchasing
- Development of errorless digital payment system
- Introduction of personalization and technological innovation in online purchasing
- The complex process to manage the online operation of the business
- With technology development, an increase in the risk of cyber attacks
The leading companies in the market are making new acquisitions with the companies in fashion retail and try to market the products online and increase their brand in the market. Also, they launch new fashionable products with the collaboration and making a strategic partnership and market it through online mode to avail competitive advantage.
Some of the key players profiled in the report are Adidas AG (Germany), Alibaba (China), Nike Inc. (United States), ASOS Plc. (United Kingdom), Amazon.com, Inc. (United States), Boohoo Group Plc. (United Kingdom), New Balance (United States), ASICS (Japan), Myntra (India) and Flipkart (India). Additionally, following companies can also be profiled that are part of our coverage like Skechers (United States), Fila (South Korea) and Zalando SE (Germany). Analyst at AMA Research see United States Vendors to retain maximum share of Global Online Apparel & Footwear market by 2026. Considering Market by By End User, the sub-segment i.e. Men will boost the Online Apparel & Footwear market.
Latest Market Insights:
On 3 Aug 2021, Wolverine World Wide is furthering its goal to expand its digital presence, make an acquisition of fitness lifestyle brand Sweaty Betty. This acquisition is a move towards eCommerce and it gives Wolverine a stake in the fast-growing and competitive women’s activewear category, which is led by high-growth brands like Lululemon.
What Can be Explored with the Online Apparel & Footwear Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Online Apparel & Footwear Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Online Apparel & Footwear
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Online Apparel & Footwear market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Online Apparel & Footwear market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Apparel and Footwear Manufacturers, Apparel and Footwear Distributors/Wholesalers, Consulting Firms, Investment Banks and Government Bodies & Regulating Authorities..
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Online Apparel & Footwear Market?
The Online Apparel & Footwear market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Online Apparel & Footwear Market?
Top performing companies in the Global Online Apparel & Footwear market are Adidas AG (Germany), Alibaba (China), Nike Inc. (United States), ASOS Plc. (United Kingdom), Amazon.com, Inc. (United States), Boohoo Group Plc. (United Kingdom), New Balance (United States), ASICS (Japan), Myntra (India) and Flipkart (India), to name a few.
3. What trending factors would impact Online Apparel & Footwear Market growth most?
"The adoption of AR enhance the reality of online shopping
" is seen as one of major influencing trends for Online Apparel & Footwear Market during projected period 2020-2026.