A look at some key statistics on the online fashion market…
Global Fashion Ecommerce Market
According to Statista, the global online fashion market was worth $533 billion in 2018, and is predicted to grow to $872bn by 2023.
In 2018, apparel accounted for 65% of the market, followed by footwear (25%) and bags and accessories (10%).
Fashion Sales by Device
Fashion sites are the most effective when it comes to converting mobile traffic into sales.
Mobile accounts for 65.4% of traffic to online fashion retailers and 57.1% of sales, much higher than the overall retail average.
Most Popular US Fashion Websites
Amazon, not best-known for fashion, is the most popular destination for buying clothing online, according to a survey by Internet Retailer.
Fashion and SEO
According to the PI Datametrics UK Fashion Market Leaders report, Next has the highest search ‘share of voice’ overall for some highest value fashion related keywords, with 11.3% share.
Debenhams is next on the list, with 6.52% while Boohoo.com group (Boohoo and PrettyLittleThing) has a combined 10.8% of search visibility.
For the US, Macy’s leads the way, with a 9.13% share of voice, followed by Amazon (7.73%) and Nordstrom (6.02%).
Frequency of Online and Offline Fashion Purchases
According to Internet Retailer, 14.9% of US consumers say they never buy clothing online, compared with just 6.4% who don’t buy in stores.
Devices Used For Online Clothes Shopping
The majority of under 34s in both the US and UK prefer to browse fashion sites using smartphones.
Conversion Rates for Fashion Ecommerce
Stats from Nosto show that the conversion rates in fashion ecommerce are higher on desktop than mobile.
The highest desktop conversion rates are from the UK and DACH countries (Germany, Austria and Switzerland), at 2.9%.
Average Order Values for Fashion Ecommerce
Average order values (AOV) are slightly higher on desktop too, with US consumers spending an average of $103 per transaction on desktop and $93 on mobile.
Key Benefits of Shopping for Clothing Online
The most important motivations for buying clothes online are around choice and price, according to a survey by Rakuten.
Frustrations When Shopping for Clothing Online
Concerns about product quality, fit and appearance figure strongly, which underlines the challenges fashion retailers face in replicating the key features of in-store shopping, the ability to see products close up, and find the best fit.
Cart Abandonment in Fashion
Thanks to a relatively simple decision making and purchase process, fashion sites enjoy the lowest abandonment rates of the five sectors we monitor.
At 74.1%, abandonment on fashion sites is well below the average of 79.17%.