Online Fashion Retail Market Is Gaining Massive Traction With Marshalls Launching Its Online Store Marshalls.Com To Provide A Surprising Shopping Experience To Customers

 

Online Fashion Retail Market

Online Fashion Retail businesses offer their customers an opportunity to go looking and buy a range of attire from the comfort of their homes. The net distributor conjointly provides a large array of the foremost recent arrivals from major fashion homes. The e-commerce industry has expanded significantly over the years, both in developed and emerging economies. Major e-commerce platforms such as Amazon, eBay, and Alibaba have gained significant traction in major countries. As per the India Brand Equity Foundation (IBEF), in 2017 the Indian e-commerce market was valued at US$ 38.5 billion and is expected to reach US$ 200 billion by 2027. With the robust growth e-commerce industry, online fashion retail platforms are expanding rapidly. Thus, these factors can stimulate growth of the online fashion retail market.

Another reason that could aid in growth of the market is rising use of mobile applications. As a matter of fact, mobile applications offer various features including the latest trends, smart filters, virtual trial rooms, deals and offers, and lucrative discounts. These features help customers to search for relevant products and choose the best products. In fact, many online platforms offer lucrative deals on smartphones that are not available in retail shops. Thus, such factors can augment growth of the online fashion retail market. Recently, in September 2019, Marshalls launched, a U.S.-based off-price retailer, launched its online store Marshalls.com to provide a surprising shopping experience to customers.

When it comes to regional impact, Asia Pacific seems to be gaining significant traction in the online fashion retail market. This is typically due to the fact that the e-commerce industry has witnessed the highest growth as well as there is rapid penetration of smartphones in emerging economies. On the contrary, North America is exhibiting a positive outlook due to the presence of major e-commerce platforms such as eBay and Amazon in the region.

They conjointly supply some distinctive and original items that individuals haven't seen anyplace else. This distinctive means of buying trendy things has verified to be very widespread among individuals of all ages. Despite these advantageous factors, there are certain aspects of this market that can pose a major hindrance in future growth. For instance, challenges associated with online payments and growing concerns overs the environment regarding the use of plastics can potentially impede growth of the online fashion retail market in the near future.

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