Fashion: a strong vertical in e-commerce

Businesses engaged in fashion e-commerce typically operate an official website for online shopping website and direct retail sales to consumers. Online shoppers spent an average of 3.83 U.S. dollars per visits to luxury apparel properties and 3.10 U.S. dollars per online shopper per visit to general apparel properties, making fashion the highest revenue-generating e-commerce vertical. The value of e-commerce retail sales for clothing and clothing accessories stores amounted to about 10.9 billion U.S. dollars in 2018. The combined compound annual growth rate (CAGR) for revenue from fashion retail e-commerce in the United States is expected to reach an estimated 16.1 percent during the periods between 2017 and 2024.

As of 2018, the share of internet users who ever purchased fashion-related products online was 57 percent, making it the most popular online shopping category worldwide. For approximately a third of online fashion shoppers in the United States, the average order value usually comes to 21 to 50 U.S. dollars with the average basket size being two items.

Fashion shopping apps

In recent years, in addition to the e-commerce websites of retailers, online fashion landscape has been further diversified by mobile applications developed by B2C fashion retailers and brands as well as C2C platforms that allow buying and selling between private consumers. Based on year-on-year growth rate of visitor numbers, the most popular fast fashion retailer app in the United States belonged to the UK-based retailer Boohoo. In the last quarter 2020, the app more than doubled its number of average monthly active users. Among other retailer apps are Poshmark, Shein, and the C2C buying/selling platform Depop popular with Gen Z shoppers.

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