Presently valued at US $ 521 billion, the Asian fashion e-commerce sector is poised for robust growth, with projections indicating a 9.5 per cent compound annual growth rate (CAGR) that could propel its worth to US $ 985 billion by 2030, according to a comprehensive report by CoherentMi.
The driving forces behind this anticipated surge lie in the widespread adoption of smartphones and the escalating reach of the internet across Asia. The increasing middle-class population in the region is another factor propelling the expansion of the fashion e-commerce market.
Moreover, the plethora of smartphones and internet users in nations like China, India, Indonesia, Vietnam, and the Philippines has played an imperative role in making e-commerce more accessible. The affordability of devices has led to an exponential increase in smartphone adoption, greatly expanding the potential consumer base for online fashion platforms.
One of the most promising opportunities emerging is the integration of live streaming in the fashion e-commerce realm. Brands and influencers are leveraging platforms such as Twitch, YouTube, and Facebook Live to host real-time try-on sessions, tutorials, and reviews.
This approach enables customers to engage instantly through chat features, providing a unique experience as they explore new collections and receive immediate answers to their queries.
