As per the latest report published by a market research firm Technavio, e-commerce market for fashion products is witnessing huge spending. Last year only, the US consumers spent US $ 92 billion on apparel, footwear and accessories, the report states.
Commenting on the rising influence of e-shopping on consumers, Brijesh Kumar Choubey, Technavio’s Industry Analyst – Retail Goods and Services said, “With e-retailers providing more security features for online payments, free delivery, improved online customer service, and customer-friendly, easy-to-navigate shopping websites, a growing number of consumers are likely to use these portals in the next five years.”
Also Read – Apparel, Footwear, Accessories – ‘money-makers’ for Indian E-commerce sector
As per the report, luxury brands like Chanel, Fendi, among others have made the online market even more appealing as consumers are now able to buy luxury fashion goods via their smartphones which was earlier restricted only to physical or brick & mortar stores. Moreover, facilities like free home delivery, customization of products and availability of wide range of products on a single platform are also driving growth in online fashion retail market. For instance, footwear brands like Adidas, Ferragamo, Nike, etc. are giving their customers the liberty to personalize the products they buy.
