E-commerce Fashion Accessories Industry Overview
The global e-commerce fashion accessories market size was valued at USD 182.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 14.7% from 2022 to 2028.
E-commerce provides an effective buying experience by providing access to global market information which helps the consumer to evaluate various factors associated with accessories that are increasing their adoption and usage. Additionally, the increasing adoption of smartphones along with rising internet penetration, eCommerce, and social media are contributing to the market expansion.
Gather more insights about the market drivers, restrains and growth of the Global E-commerce Fashion Accessories Market
The COVID-19 pandemic had a significant positive impact on the market. Lockdown restrictions were imposed in all the countries across the globe to stop the further spread of SARS-CoV-2, owing to which, the population across the globe started moving towards eCommerce for all their needs and requirements as offline retail stores were shut down. Due to this a huge surge was observed in the global market hence broadening its usage across the globe.
Diverse fashionable and wearable accessories which are easily available on e-Commerce and help any individual to achieve a statement to their fashion that complements their fashion statement as per their necessity, requirement, and like are known as fashion accessories and the market available for that is known as eCommerce fashion accessories market. The market provides great convenience to users as it helps them to find products quickly as per their needs and requirement using the available filter system.
An operative buying experience is provided by eCommerce to the users as it provides the user with information about the market across the globe. This information includes a comparison of prices, the value of any brand, the availability of a product, and others. The market provides the shoppers or users with highly personalized products as well as offers. It also provides the shopper with a review system that helps them to get an insight into the product before buying it. Also, if needed they can easily return the bought products using return policies.
E-commerce enables the user to buy or shop fashion accessories anywhere irrespective of place and time. Moreover, it is convenient and saves a lot of time for the user or consumer which is increasing its usage among the population across the globe and thus boosting the market growth. In addition, eCommerce provides the user with a high variety of choices for fashion accessories to choose from. Furthermore, it allows the user to buy products internationally which is increasing its adoption and hence further contributing to the market expansion.
Introduction and incorporation of new & advanced technology in eCommerce such as virtual fitting to provide the consumer with a better experience is expected to present lucrative opportunities for the market. Such technology reduces the efforts of the need of the user to see and check the physical product and gives them an experience similar to offline stores. However, the unavailability or insufficient security of systems, standard protocols for communication, and reliability are projected to hamper the market growth during the forecast period.
Browse through Grand View Research’s Clothing, Footwear & Accessories Industry Research Reports.
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Market Share Insights
- September 2018: Walmart Inc. acquired Flipkart to provide users with an eCommerce shopping portal. It consists of a wide and diverse range of products.
- May 2018: Alibaba Group Holding Limited acquired Open Sky to provide users with an online platform where they can experience a marketplace for social shopping.
Key Companies profiled:
Some prominent players in the global e-commerce fashion accessories market include
- Amazon.com, Inc.
- Walmart Inc.
- Alibaba Group Holding Limited
- Inditex SA
- eBay Inc.
- ASOS plc
- Revolve Group, Inc.
- Zalando SE
- Nordstrom, Inc.
- H & M Hennes & Mauritz AB
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