PUBLISHER: GlobalData | PRODUCT CODE: 1663726
PUBLISHER: GlobalData | PRODUCT CODE: 1663726
The report includes analysis, brands, and trends associated with online in the Global Online Apparel Market and the impact of inflation
The global online apparel market experienced a modest growth of 2.6% in 2023, reaching a valuation of $554.0 billion. This growth was hindered by economic challenges and a preference among consumers for the in-person shopping experience after the pandemic. As a result, the online penetration rate decreased by 0.4ppts to 26.6%. However, the market is poised for a gradual acceleration, with expectations of a 3.5% growth in 2024 and a CAGR of 4.5% from 2023 to 2028, technological advancements, particularly in artificial intelligence (AI) and augmented reality (AR), are anticipated to bolster online penetration.