The fashion e-commerce market consists of sales of fashion goods and its related services through online channels. Fashion goods include fashion accessories, clothes, shoes, bags, jewelry, cosmetics, and other luxury goods. The fashion e-commerce market comprises of revenue generated by the establishments using several online platforms and tools for trading fashion products.
The global fashion e-commerce market is expected to decline from $531.25 billion in 2019 to $485.62 billion in 2020 at a compound annual growth rate (CAGR) of -8.59%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing and remote working, and the closure of industries and other commercial activities. The entire supply chain from production to international trade has been impacted. The market is expected to recover and reach $672.71 billion in 2023 at a CAGR of 11.48%.
