Global Fashion market

The global Fashion eCommerce market is expected to increase over the next years. It is predicted to reach US$1,254,197.4 million by 2024 and the expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 8.4%. ECDB considers the following three sub-markets within the Fashion market: Apparel, Footwear, and Bags & Accessories. Apparel is the largest sub-market and accounts for 51.4% of the global Fashion market.

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the global Fashion retail market, the online share is 32.4% and will increase by an average of 5.2% to 39.7% by 2028.

With sales in the global Fashion market, jd.com generated a revenue of US$31,275.2 million in 2023, which means it is the leading online store in this market. The global Fashion ranking is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The ranking shows a filtered revenue. It only includes sales within the market Fashion.

With 91.4% VISA the most commonly offered payment method of all online stores in the worldwide Fashion eCommerce market in 2023. Like VISA Mastercard with a share of 91.1% and American Express with a share of 59.1% the payment type Cards is the most common used by online retailers in in the worldwide Fashion eCommerce market in 2023. Other commonly used payment methods in that market are PayPal (E-wallets) with 66.4% and Bank transfer/cash in advance (Bank transfer) with 31.9% of stores offering that payment method to the clients.

In the worldwide Fashion eCommerce market, there is a high level of competition among numerous shipping service providers, resulting in a highly fragmented landscape in 2023. Notably, no single shipping service provider, including DHL, UPS (United Parcel Service), and FedEx, has been able to achieve a market share of over 20.0% among online retailers, indicating a dispersed market with many players holding smaller shares.

Although Shopify holds a commanding lead with 19.8% of online stores using the shop software solution, the worldwide Fashion eCommerce market in 2023 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including Magento, Salesforce Commerce Cloud, WooCommerce, and PrestaShop, which collectively hold a significant share of the market.