Never before has remote shopping been so popular, with most customers preferring to use their computers or cellphones to make their purchases. Within this framework, one of the most popular industries for internet users is the fashion industry.
Despite the ongoing health crisis and market uncertainty, the fashion and apparel business has flourished in recent months. But in 2023, inflation will be a major issue since it will have an effect on internet purchases.
Let’s examine the figures and trends that will shape the digital fashion landscape in the coming months.
Online Sales: A Profitable Market for Fashion Companies Fevad presents the most recent 2022 data from studies conducted by Kantar and IFM on apparel and e-commerce. The study also looks at the online textile market.
A year when the health problem persisted, 2021, saw 53.9% of internet users make an online purchase of apparel or fashion items.
Online sales of apparel and textiles increased by 22.2% in 2020 compared to 3.2% in 2019, reaching 24.2% in 2021, according to statistics from the IFM Panel. IFM reports that there is a significant dip in 2022, with sales falling by -18.6% between January and July when compared to the same time in 2021.
French Online Fashion Revenue
Fevad estimates that global e-commerce sales in 2021 was $4,938 billion, and that number is expected to climb in 2022.
Clothes sales both in-store and online are expected to drop by 5% in the first half of 2022 compared to 2019, according to a survey conducted by Panel Retail International for the Alliance du Commerce.
But 60% of French online shoppers still rank fashion as their preferred category for online purchases in 2022, according to Fevad.
The Benefits of the E-Commerce Revolution for Clothing
The data clearly indicates that online fashion business is becoming increasingly popular. What specific benefits does it offer, and why is it so well-liked? Let’s dissect it.
Build an Online Sales Website Fast
The rise in online clothes merchants is another factor contributing to the growth of e-commerce. Creating an online store is far simpler now than it was in the past.
In 2022, 22.3 million French consumers made purchases using their mobile devices, according to Fevad. As a result, mobile commerce (m-commerce) is being adopted by e-commerce companies at an increasing rate.
Nowadays, almost all e-commerce websites are responsive, guaranteeing the best possible presentation on every device—be it a computer or a basic phone.
Marketplaces are also a useful tool for increasing online sales. According to Fevad, in 2022, more than 36% of online retailers would offer their goods on marketplaces, which will see a 3% increase in revenue from 2019 and a 5% increase from 2020. An excellent level of help from internet customers.
Online shopping involves social media as well, with platforms like Instagram, Pinterest, TikTok, and others playing a big part. The core of these channels is fashion!As a result, many strategies are used to improve the performance of online fashion and apparel sales.
Digital Brand Value (DNVB) Increases
Some firms only use digital channels because of how popular internet buying has become.Success stories such as Sézane, Le Slip Français, and Polène demonstrate that a 100% online strategy is the only way to achieve success. Put differently, one can begin to compete with well-known brands by focusing on digital and social media first.
Second-Hand Fashion: An Upcoming Online Textile Challenge
Second-hand goods and thrift stores are another expanding trend. As a result of Vinted’s popularity, brands are increasingly selling items from their past collections in secondary marketplaces.One in two consumers purchased reconditioned or used goods in 2021, per Fevad/Médiamétrie.
Customers are gravitating toward more conscientious and moral behavior.
For example, according to Fevad, in 2022, the most popular websites in France are Vinted, ranked fifth with a monthly coverage of 27.3%, and Leboncoin, ranked second with a monthly coverage of 42.6% of the French population.
An Industry Always Changing
As is clear, the online fashion industry is a dynamic one.
The use of technology is becoming essential to merchants’ everyday operations, and changes are occurring quickly. More than 43% of French consumers want short supply chains and environmentally conscious projects, according to Fevad in 2022.
There is still time to take advantage of this chance and enter this industry. Online clothes sales can be a great way to innovate and help shift standards.
“New balances are being established between online and in-store purchases, and e-commerce will soon represent a quarter of the market,” states the French Fashion Institute. It is up to you to launch an online store and take part in this change.