The global eCommerce fashion and apparel sector experienced a 1.3% year-over-year growth from May 2023 to April 2024. While mature markets show signs of saturation, emerging markets are driving the industry forward, presenting significant opportunities for growth.
Emerging Markets Lead the Way
Argentina leads the pack with a 20% year-over-year increase, despite high inflation. This growth is primarily driven by sports brands and retailers, with the top eight websites capturing over 40% of industry visits.
Other emerging markets show strong growth:
- Russia at 17.7%, driven by limited availability of international brands
- South Korea at 14.2%, influenced by the popularity of K-culture
- Mexico at 11.2%, largely driven by increasing internet penetration
Demand for Pre-Owned Apparel Surges
As consumers become more environmentally conscious and face economic challenges, demand for pre-owned apparel is on the rise. Platforms like Vinted (80% growth) and Depop (40% growth) are becoming some of the fastest-growing websites in the industry.
App Usage Mitigates Website Visit Declines
App usage is increasingly becoming the primary mode of interaction between customers and fashion brands. In the US and UK, app usage has surged by 38% and 25%, respectively, offsetting the overall decline in website visits.
To stay competitive in the evolving eCommerce fashion and apparel sector, brands must adapt to local and global cultural trends, prioritize sustainability, and optimize their mobile presence.
Dia´s Weekly Download Edition #23
