US-based e-commerce mammoth Amazon is all set to take over the fashion business in the online market. An e-survey, conducted on 1,699 adults between 18 and 24, by Coresight Research, revealed data that supports the fact.
The survey states that 46% of customers had shopped for clothing or footwear from Amazon in 2017. The e-retailer now runs neck and neck with Target, standing second as the most-shopped apparel retailer in the US after Walmart. The research further suggested that Amazon versus Target is the biggest battle since Target remained the common answer amongst shoppers when asked about their clothing/footwear switch to Amazon.
Another fact that needs to be considered is the category of ‘Prime members’. These members can take credit for their significant role to up Amazon in the popularity rank. The retailer would, otherwise, only be seventh in the rank.
Casual clothing and adult footwear ranks as the fourth in-demand category of the e-retail forum. Nike, Under Armour and Hanes are the most popular (outside) apparel brands on Amazon. As per the Coresight Research report, over 20% of respondents said they have shopped for apparels on Amazon, dumping Macy’s and JCPenney.
Notably, in October 2016, Cowen and Company concluded Amazon’s 2017 US apparel sales to reach US $ 28.4 billion, and rising to US $ 35.0 billion in 2018.
Further, in 2017, Wells Fargo predicted Amazon’s US apparel sales to reach US $ 18.5 billion. The figure considered Amazon as the second-biggest apparel e-commerce name in the country.
In January 2018, Instinet claimed Amazon’s international apparel sales in 2016 to be somewhere between US $ 18 billion and US $ 36 billion, based on the category accounting for between 10% and 20% of its total gross merchandise volume.
Till date, no survey conducted has accurately managed to state the exact details of apparel and shoes the retailer has managed to sell.
Amazon is now working to introduce new private brands to increase its apparel sales. Its biggest arch-rival – Walmart too has unveiled a strategy to streamline its apparel business and stay ahead in the race.
