INDUSTRIES & MARKETS

Fashion eCommerce:
market data & analysis
Market Insights report

August 2023
 Agenda

Market Numbers Appendix

Overview 3
Market structure 22
Market size 6
Product overview 23
User numbers 9
Author 27
Average revenue per user 11
Key player landscape 13
Company profiles 15
Start-up analysis 18

2
 Fashion eCommerce is divided into three markets
Overview: markets

Apparel Footwear Accessories

• Women‘s Apparel • Leather Footwear • Watches and Jewelry

• Men’s Apparel • Athletic Footwear • Eyewear

• Children’s Apparel • “Athleisure” Footwear • Leather Clothes

• Other Town Footwear • Luxury Leather Goods

• Shawls and Scarves

• and many more(1)

3 Notes: (1) Hats, caps, gloves, felt, fur, belts, luggage and bags

Sources: Statista Market Insights 2023

 Personalization and recommendation features are among the main benefits for
customers
Overview: customer benefit and market development

Customer benefit Market size and future development

Fashion is one of the most mature eCommerce markets. The idea of distance Fashion is the second largest B2C eCommerce market and its global size was
shopping for fashion items was not new: long before the internet era, mail-order estimated at US$768.7 billion in 2023. The market is expected to grow further at
catalogs had already become highly popular. But the internet brought fashion 9.45% per year and reach a total market size of US$1,103.3 billion by the end of
shopping to a new level: broader product range (e.g., colors, sizes) of online shops 2027.
compared to brick-and-mortar stores, free shipping, improved delivery services
China is a leading region in Fashion eCommerce, as its market has already grown to
(e.g., same-day delivery), and hassle-free return processes all support the ongoing
a total volume of US$265.5 billion and was by far the largest online fashion market
trend towards online shopping. Most online fashion shops offer choices and
in 2023. The increasing disposable income, the lack of well-established stationary
services that customers cannot find in ordinary brick-and-mortar businesses and
retail in the country, and the high appetite for luxury fashion have a significant
inspire customers by providing content and personalized suggestions based on
impact on the market. China’s online fashion sales are expected to grow by 8.51%
their browsing history and/or previous purchases. Another outstanding service is
CAGR(1) by 2027.
curated shopping, offered by companies like Outfittery, where individual outfits are
put together by personal style advisers. The U.S. subscription-based company Stitch In Europe and the U.S., internet penetration is already very high, and growth is
Fix goes one step further and applies a sophisticated recommendation algorithm to mainly driven by the continuous shift of the existing customer base from offline to
send its customers packed boxes with items for special events or new styles that online purchases. The U.S. market was valued at US$163.7 billion in 2023 and is
match their specific tastes. Social influencers help social media platforms reach a expected to reach US$236.5 billion in 2027. Relevant players in the U.S. market are
huge audience, and product placement has proved itself capable of skyrocketing online shops of the retailers The Gap and Macy’s, as well as the pure online player

brands with unprecedented speed. Amazon. In Europe these are Zalando, Vente Privee, and the Otto Group.

4 Notes: (1) CAGR: Compound Annual Growth Rate

Sources: Statista Market Insights 2023

 A shift towards mobile and improving processes are obvious trends
Overview: assumptions and trends

Assumptions Trends

One of our key assumptions is the shift from offline to online retail. But both worlds Fashion eCommerce has quickly moved from a simple combination of online and
are also becoming more and more connected, as cross-channel services are offline stores to a sophisticated, integrated shopping experience that unites mobile
increasing. An example of seamless integration of online and offline channels is shopping on the go, online shops filled with extra content, and new store concepts.
click & collect. This is the arrival of “new retail,” where consumers interact with a brand or product
across a number of platforms.
The fashion market landscape can be divided into brand marketplaces (Zalando,
Zappos), design shops (Net-A-Porter), the online presence of ordinary retailers In the mass market, well-known brands and online shops with a strong customer
(H&M, The Gap), generalists (Amazon), discount clothing shops (boohoo) and direct- base offer own-label collections (e.g., Amazon, Asos). This combines two
to-consumer sellers (Nike). It is no secret that mobile shopping is one of the major advantages: differentiation from other vendors and higher margins (no
driving forces in this market. The steady increase in smartphone penetration will middleman).
ensure strong growth rates in mobile shopping. With better and easier online
The purchasing power is shifting from the U.S. and Europe to the markets China
services, more customers are shifting to mobile research. Social networks such as
and Southeast Asia and established eCommerce players from the West are seeking
Instagram, where social influencers reach huge audiences and try to generate
business acquisition targets in those markets.
authentic and appealing inspiration and recommendations, are also mostly used on
mobile. An easy return process is key to customer satisfaction. The best-case Traditional brand loyalty has diluted due to higher market fragmentation, and
scenario would be to reduce current return rates in order to keep margins at a retailers are acknowledging the importance of community building and customer
substantial level. The application of big data to user shopping behavior is a engagement. Creating a dialog with the customer beyond sending out newsletters

promising approach. and encouraging interaction on social networks helps to build loyalty.

Sources: Statista Market Insights 2023

 Apparel is the largest category in Fashion eCommerce with a projected revenue
of US$615.4 billion by 2027
Market sizes: global

Global revenue forecast in billion US$

1,103.1
1,037.4
981.9 126.3
+11.3%(1) 120.5
869.0 115.9
759.0 768.7 104.1 361.4
707.3 339.4
97.6 93.6 320.7
633.2 87.7
283.0
511.6 83.0
240.1 249.7
451.1 230.9
69.9 200.3
376.7 64.8
61.2 163.6
142.9 577.6 615.4
114.3 545.4
421.4 425.5 481.9
349.9 388.7
243.4 278.1
201.2

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Apparel Accessories Footwear

6 Notes: (1) CAGR: Compound Annual Growth Rate

Sources: Statista Market Insights 2023

 Europe shows the biggest growth in Fashion eCommerce with a CAGR(1) of 10%
Market size: regional comparison (1/2)

Revenue forecast in billion US$

+8.5%(1)
368.1
40.4 +10.0%(1) +9.6%(1)
265.5 258.8 236.5
31.5 140.5 177.0 31.0 163.7 32.5
102.7 62.1
22.9 23.6 75.3
43.2 48.3
187.2 165.8
131.3 111.0 91.8 128.8

2023 2027 2023 2027 2023 2027

China Europe U.S.

Apparel Accessories Footwear

7 Notes: (1) CAGR: Compound Annual Growth Rate

Sources: Statista Market Insights 2023

 With revenues of US$43.8 billion, the UK had the biggest online Fashion
eCommerce among the EU top five in 2023
Market size: regional comparison (2/2)

Revenue forecast in billion US$

+8%(1)

58.7
5.1 +8%(1)
43.8 11.4 +15%(1)
+6%(1)
4.4 37.0
8.6 4.3 31.3
29.5
26.8 3.9 +10%(1)
8.8 23.2 2.9
3.6 17.7 7.6
42.2 6.6 2.5 9.7
30.9 7.2 2.3 11.2
24.0 4.4 7.6 1.3 1.7
16.6 16.9 19.8
13.5 11.1 2.1 3.1
4.3 6.4
2023 2027 2023 2027 2023 2027 2023 2027 2023 2027
UK Germany France Italy Spain

Apparel Accessories Footwear

8 Notes: (1) CAGR: Compound Annual Growth Rate

Sources: Statista Market Insights 2023

 By 2027, most eCommerce consumers in the Fashion eCommerce will live in
China
User numbers: regional comparison (1/2)

Number of users forecast in millions

+6%(1) 2,314.2

1,800.1 694.4

506.7 +5%(1)
1,184.1
769.5
983.3
620.0 376.0
295.3 +4%(1)
408.0 390.9 454.2
342.7
850.4 186.2
673.3 150.4
345.3 400.1 114.6 127.1
125.9 140.9
2023 2027 2023 2027 2023 2027
China Europe U.S.

Apparel Footwear Accessories

9 Notes: (1) CAGR: Compound Annual Growth Rate

Sources: Statista Market Insights 2023

 Germany showed the strongest demand for online fashion within Europe in
2023
User numbers: regional comparison (2/2)

Number of users forecast in millions

+4%(1)
+3%(1)
149.6
128.4 128.4 +4%(1)
54.2 114.5 +5%(1)
40.8 37.9 96.9
33.4 +3%(1)
82.8 85.2
29.5 70.4
47.6 44.5 24.2 24.4 62.0
43.5 39.8 19.9 55.3
35.2 16.2
29.9 30.4 14.9
25.1 20.5
18.9
44.2 47.8 41.3 46.0
28.7 32.2 25.3 30.4 21.6 25.3

2023 2027 2023 2027 2023 2027 2023 2027 2023 2027
Germany UK France Italy Spain

Apparel Footwear Accessories

10 Notes: (1) CAGR: Compound Annual Growth Rate

Sources: Statista Market Insights 2023

 Out of the three major regions, customers in the U.S. spend the most in the
Apparel market
Average revenue per user: regional comparison (1/2)

Average revenue per user forecast in US$

206 67 51

2023 321 2023 146 2023 203

730 321 195

255 76 53
U.S. China
2027 404 Europe 2027 165 2027 202

914 414 220

Apparel Accessories Footwear

11

Sources: Statista Market Insights 2023

 Among the European top five, online shoppers in the UK spend the most in the
Fashion eCommerce
Average revenue per user: regional comparison (2/2)

Average revenue per user forecast in US$

111 84 66
2023 256 2023 299 2023 141
748 469 197
115 84 85
2027 301 328 189
UK 918 France 2027 Spain 2027
524 252

83 92
2023 161 2023 219
376 436
90 129
Germany 2027 162 310
Italy 2027
502 652

Apparel Accessories Footwear

12

Sources: Statista Market Insights 2023

 In Europe, the UK has the biggest local market for online retail in the Fashion
eCommerce
Key player landscape (1/2)

eCommerce Fashion revenues in Europe in 2023 The biggest specialized shops in the top 6 countries
Norway
Denmark Sweden
Finland Switzerland
0.9% Austria
1.1% 2.2% Spain
United Kingdom 1.4% 2.2%
1.8% 4.4%
24.7%
Italy
8.7%

13.2%
France

23.7%
Others 15.7%

Germany

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Sources: Statista Market Insights 2023

 From a global perspective, macys.com is the biggest online retailer specializing
in products in the Fashion eCommerce
Key player landscape (2/2)

Biggest players per country with Fashion as the main product category in 2021

macys.com global eCommerce

net sales: US$8.6 billion

asos.com global eCommerce zalando.de global eCommerce

net sales: US$5.2 billion net sales: US$2.97 billion

14

Sources: Company information

 Asos is a fashion platform with focus on small brands and inclusivity
Company profiles: Asos

Key facts Product: asos.com

Revenue: US$5.38 billion (2021) CAGR(1): 28.5% (2020 to 2021) Asos is an online fashion and cosmetic retailer based in London, England. The
website is aimed at young adults, ships to 196 countries, and cooperates with more
Global net Sales: US$5.2 billion (2021) Employees: 3,017 (2021)
than 850 brands. Originally, ASOS stood for “AsSeenOnScreen” because it mostly
Founded: 2000 Headquarters : London, UK sold products similar to those in the movies, but this is no longer its main focus. In
2010, the company launched Asos Marketplace, a platform that makes it possible
for vintage boutiques and independent brands to sell their products to a bigger
Countries with separate Asos retail websites
audience.

Asos’s digital strategy

The company makes money from consignments, price markups/markdowns, and

commissions. By incorporating smaller brands into its business, ASOS not only
gained more profit from individual sellers but increased its popularity among
younger generations and fashion enthusiasts. The company’s marketing strategy is
focused on presenting the company in a sustainable, all-inclusive way by
supporting body positivity, becoming an official ParalympicsGB partner, reducing
environmental impact, and seeking out fashion startups instead of big names in the
industry. ASOS is also known for its usage of social media, including Instagram and
YouTube.

15 Notes: (1) CAGR: Compound Annual Growth Rate

Sources: Company information

 In 2021, Zalando generated global eCommerce net sales of nearly US$12 billion
Company profiles: Zalando

Key facts Product: zalando.de

Revenue: US$12.25 billion (2021) CAGR(1): 34.5% (2020 to 2021) Zalando.de.de, operated by Zalando SE, is an online store with nationally focused
sales. Its eCommerce net sales are generated almost entirely in Germany. With
Global net Sales: US$11.85 billion (2021) Employees: 17,043 (2021)
regard to the product range, zalando.de achieves the greatest part of its
Founded: 2008 Headquarters: Berlin, Germany eCommerce net sales in the Fashion category. Products from the category Toys,
Hobby & DIY are also part of its offer. The online store was launched in 2008.

Countries with separate Zalando retail websites Zalando’s digital strategy

One of Zalando’s key drivers is its relationship with various partners, such as
Adidas. With that, Zalando is trying to build a multi-brand environment to engage
with customers and provide expertise. Doing so has increased its customer traffic
and engagement. Moreover, Zalando offers a one-stop shopping solution by
including thousands of brands on its platform, ranging from low-priced brands to
higher-priced ones. Additionally, fast deliveries and free returns are the foundation
of its business model. More recently, Zalando has also introduced outlet stores.

16 Notes: (1) CAGR: Compound Annual Growth Rate

Sources: Company information

 In 2021, macys.com generated global eCommerce net sales of more than
US$8.6 billion
Company profiles: Macy’s

Key facts Product: macys.com

Revenue: US$24.46 billion (2021) CAGR(1): 41% (2020 to 2021) Macys.com, operated by Macy's, Inc., is an online store with nationally focused
sales. Its eCommerce net sales are generated almost entirely in the United States.
Global net Sales: US$8.6 billion (2021) Employees: 88,857 (2021)
Regarding its product range, macys.com is an all-around online store, with products
Founded: 1996 Headquarters : Cincinnati, U.S. on offer that cover different categories, such as Fashion, Furniture, and Toys,
Hobby & DIY.

Countries with separate Macy’s retail websites Macy’s digital strategy

Macy’s heavily invests in its digital operations that aim to streamline not only the
shopping experience but also the selling experience on its marketplace platform.
For that, Macy’s cooperates with other tech companies to empower its clients with
the best-in-class seller tools that make selling more transparent and agile. However,
Macy’s still counts on its offline stores since a substantial part of its revenue is
generated from them.

17 Notes: (1) CAGR: Compound Annual Growth Rate

Sources: Company information

 Intelistyle uses an AI engine to provide fashion advice
Startup analysis: Intelistyle

Overview Analysis

The UK-based startup Intelistyle has developed an AI engine that is able to analyze Is the product unique? Most online retailers offer some form of personalization
fashion photography and use the choices of real stylists to give fashion advice. on their sites nowadays, but these are usually suggestions based on past purchases
When putting together an outfit, it offers shopping suggestions and also uses the and browsing history, and services for style advice cost extra.
items that the customer already owns. The company soon hopes to become the
Does it have an advantage over its competitors? Given the fast development of
“Spotify of fashion.” The business can be described as an AI fashion stylist and retail
AI technologies, the idea of self-learning fashion assistants will certainly find
aggregator. Retailers can also integrate Intelistyle’s AI into their own websites. This
imitators soon. However, Intelistyle has already been able to create a wider
makes it possible to offer suggestions to shoppers based on their data (body type,
network of partners, which will make entering the market for further competitors
skin tone, hair) and individual sense of style which improves the personalized
challenging.
customer experience and opens new horizons for e-mail promotions or ad
targeting. Can the product withstand possible constraints? One of its biggest challenges
might be further restrictions on user data protection, such as the EU’s GDPR. Also,
getting started with an app requires some effort, as users need to upload pictures
of the items they already own, and this may cause numerous inactive accounts.
Intelistyle has everything it needs to become an important player when it comes to
AI and eCommerce aggregation. The long-term competitive advantage has
therefore been established thanks to its already growing user base and the
establishment of many retailer partnerships.

18

Sources: Company information, intelistyle.co.uk

 A luxury fashion startup Farfetch presents “Store of the future”
Startup analysis: Farfetch

Overview Analysis

Farfetch, headquartered in the United Kingdom and operating on a global scale Is the product unique? Luxury clothing is not a rarity on the market, which is
since 2008, is a marketplace selling products from its own inventory and third-party already full of well-known brands and stores.
sellers. The company positions itself as a luxury fashion retail platform. The parent
Does it have an advantage over its competitors?
company is Farfetch UK, Ltd. Farfetch offers the majority of its products in the
Fashion category. By creating the luxury experience of the future for the customers, Farfetch can
connect physical inventory to a digital platform, combine the two, and make it
easier for customers to enjoy the experience and spend more money.

Can the product withstand possible constraints? Farfetch is aimed at wealthy

people and by making the offline experience better for them, Farfetch might be
able to appeal to more people that enjoy shopping as an activity. People are
expected to come just to try the new technology and, therefore, spend money on
the products. Because Farfetch doesn’t need to appeal to an average shopper,
focusing on enhancing the experience for an already existing target audience may
be a good strategy.

19

Sources: Company information, techcrunch

 New Returns is a company focused on the European market of returned goods
Startup analysis: New Returns

Overview Analysis

Founded in 2018, New Returns is a Dutch startup that focuses on the selling of Is the product unique? The service itself is not new and there are companies that
returned goods. It is currently operating in the Netherlands, Germany and is soon are more recognizable and popular on the market. Considering the boom of
to be launched in France. Its main objective is to resell the products that were reusable goods among younger generations, the level of competition is increasing.
returned by customers because of unmet expectations for the product, damaged
Does it have an advantage over its competitors? This startup focuses on the
packaging, scratches on the product itself, and similar reasons. Instead of
European market, and there are not many other companies with similar services in
producing more items, the company aims to use already produced items with lower
Europe. The lack of similar companies in Europe may be the strongest and only
prices and convenient delivery.
advantage of New Returns.

Can the product withstand possible constraints? The website’s overall

appearance and different names for each country’s market may create a problem
with its brand identity, which can harm the growing company’s marketing power. A
low online presence may also be harmful to the popularity of the website.

20

Sources: Company information, techcrunch

 Agenda

Market Numbers Appendix

Overview 3
Market structure 22
Market size 6
Product overview 23
User numbers 9
Author 27
Average revenue per user 11
Key player landscape 13
Company profiles 15
Start-up analysis 18

21
 Fashion eCommerce market structure
Market Structure

Sub-segments Sub-sub-segments Out-of-scope

Apparel comprises the digital sale of almost all types of clothing items that are
produced for private end customers. It is broken down into the following sub-
Apparel sub-segments: Women’s Apparel, Men’s Apparel, and Children’s Apparel. Other Work clothes, handbags, watches and
Apparel includes, among others, skorts, outerwear, and clothing accessories jewelry, ski suits, umbrellas
such as bandanas, handkerchiefs, and tie clips. All monetary figures refer to
the annual gross revenue and do not factor in shipping costs.

Footwear includes online sales of all types of footwear which are produced for
private end consumers (e.g., leather shoes, casual shoes, slippers), with the
Work and safety shoes, apparel,
Fashion exception of sports shoes, footwear accessories, and care products. Other
Footwear accessories (e.g., hats, scarves, and
Footwear includes shoe accessories such as shoe polish, shoe gaiters, and
gloves)
shoe laces. All monetary figures refer to the annual gross revenue and do not
factor in shipping costs.

Accessories comprises wearable, fashionable accessories that complement a Clothes (e.g., coats, t-shirts, suits),
person's outfit, such as watches and jewelry, scarves and shawls, caps and shoes and shoe accessories (e.g., care
gloves, luxury leather goods, belts, eyewear, ties and bow ties, as well as products), outdoor and sports clothing,
Accessories
luggage and bags with open and closable containers made from any material protective bags and covers for
used by private end consumers to transport. All monetary figures refer to the electronic devices such as notebooks or
annual gross revenue and do not factor in shipping costs. cameras

22

Sources: Statista Market Insights 2023

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 Authors

Sofia Zavialova Sebastian Lindlahr

Senior Analyst Team Lead eCommerce Market Insights

s.zavialova@statista.com s.lindlahr@statista.com

Sofia Zavialova completed her studies at the Turku School of Economics in Finland, Sebastian Lindlahr, an international business management graduate from
specializing in strategic foresight and international business. She accumulated Hamburg, is a market strategist and business developer with a strong focus on the
significant expertise in market research, analysis, and providing guidance to clients digital economy. His expertise spans data analysis, where he excels in extracting
based on intricate data insights through her role as a project analyst in various insights from complex datasets, and eCommerce, a field he is passionate about.
institutions across Finland and Denmark. At Statista, she works on projects related Within Statista, he takes on the role of leading a team of analysts and assumes
to the digital economy, where the eCommerce market is her primary focus. responsibility for overseeing the provision of eCommerce Market Insights.

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