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Online Apparel Retailing Market size is set to grow by USD 278.8 billion from 2024-2028, Rising popularity of digital payment system boost the market, Technavio

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NEW YORK, July 10, 2024 /PRNewswire/ — The global online apparel retailing market size is estimated to grow by USD 278.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  15.2%  during the forecast period. Sustainability is increasingly pivotal in the global online apparel retail market, as consumers prioritize eco-friendly and ethically sourced products. Major players like Adidas AG and ASOS Plc are integrating sustainable practices into their supply chains, aiming to reduce carbon footprints and promote fair labor practices. Despite challenges such as counterfeit products, the market’s robust growth, driven by digital payment systems and mobile commerce trends, underscores the industry’s shift towards more environmentally conscious consumer choices. Alibaba Group Holding Ltd., Amazon.com Inc., and JD.com Inc. are also leveraging network marketing to expand their sustainable product offerings.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Online Apparel Retailing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 15.2%

Market growth 2024-2028

USD 278.8 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.88

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 51%

Key countries

US, China, Japan, UK, and Germany

Key companies profiled

Adidas AG, Alibaba Group Holding Ltd., Amazon.com Inc., ASOS Plc, BANGGOOD TECHNOLOGY Co. Ltd., Cotton On Group, Dolce and Gabbana S.r.l., Gildan Activewear Inc., Giordano International Ltd., JD.com Inc., Kering SA, Levi Strauss and Co., LVMH Group., M. H. Alshaya Co. WLL, OTB Spa, Ralph Lauren Corp., SSENSE, Staples Inc., The Gap Inc., and Walmart Inc.

Market Driver

The rise in mobile commerce is primarily driven by the growing number of consumers purchasing new mobile devices and retailers creating more shopping opportunities. Major players in the online apparel retailing market, including Amazon.com, Flipkart, Alibaba Group, and L’Oreal, have launched mobile applications in addition to their websites. This trend is expected to continue as consumers become more accustomed to shopping via mobile devices. Retail sales through mobile devices, particularly for apparel, are projected to increase significantly. To cater to this trend, most online retailers have developed mobile versions of their shopping portals. Key vendors like Amazon.com and eBay offer mobile applications compatible with various operating systems, enabling seamless shopping experiences for users. The increasing adoption of mobile wallets is also expected to fuel market growth during the forecast period. 

The online apparel retail market is experiencing significant growth with statistical data showing a steady increase in e-commerce sales. Consumers value the convenience and accessibility of shopping for clothes online via ecommerce platforms and mobile shopping. Wide product selection, personalization, ease of returns, and cost savings are key drivers. Social media influences purchasing decisions, and sustainability and ethical shopping are emerging trends. Global expansion, subscription services, free shipping, and customer reviews also contribute to the market’s growth. Brands focus on consumer trust, reverse logistics, product quality, and inventory management. Shipping costs, last-mile delivery, and rising advertising costs are challenges. Changing consumer trends, regulatory compliance, and market saturation are factors to watch. Online retail services on the internet through websites and mobile applications facilitate B2B and B2C sales of apparel, clothes, accessories, and more, making online shopping an authentic and convenient alternative to brick-and-mortar stores. 

Discover 360° analysis of this market. For complete information, schedule your consultation – Book Here!

Market Challenges

The online apparel retailing market faces several challenges. Rent for physical locations and production costs are rising, making it harder for fashion firms to maintain profitability. The coronavirus epidemic forced many consumers to shop for essential products online during the lockdown period. Retail therapy shifted from physical stores to e-commerce platforms. However, challenges remain, such as time-consuming processes like physical verification and received product inspections. Fashion firms must adapt to consumer buying habits and preferences using AI and machine learning. American apparel production firms like INSPR offer limited-edition collections and collaborate with influencers for brand development and marketing services. E-commerce giants like Draper focus on digital sales, specialty markets, and innovative technology for automation and doorstep delivery. Microeconomic factors like multinational offshored apparel production and restocking facilities require complex data analysis using PORTER analysis. Decision-makers must navigate these challenges with simple language and innovative technology to stay competitive. The market for jeans, sportswear, and protective clothing remains strong, with consumers seeking essential products and fashion decisions made online.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This online apparel retailing market report extensively covers market segmentation by  

End-user 1.1 Men apparel1.2 Women apparel1.3 Children apparelProduct 2.1 Upper wear apparel2.2 Bottom wear apparel2.3 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Men apparel-  The men’s apparel market is witnessing a notable increase in sales due to the growing acceptance of business casual attire in corporate settings. Men’s clothing, including hats, scarves, gloves, and a variety of tops, bottoms, coats, jackets, suits, intimates, and sleepwear, is becoming increasingly popular. Lifestyle shifts, a growing cosmopolitan culture, and rising affluence are driving significant changes in men’s wardrobes. Fast-fashion brands are introducing Western fashion trends to emerging markets, expanding the influence of fashion into men’s clothing. In the coming years, the luxury apparel sector is projected to grow, particularly in developing markets where opportunities for expansion remain. Although mature markets will continue to contribute to market growth, the pace of growth is anticipated to be more moderate.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The online apparel retail market is experiencing exponential growth, driven by various factors. Statistical data shows that ecommerce platforms have become the go-to destination for consumers looking for clothes and accessories. Mobile shopping, with its convenience and accessibility, is a major contributor to this trend. Wide product selection, personalization, and ease of returns are key advantages of online apparel retail. Consumers can save costs by comparing prices and avoiding travel to physical stores. Social media plays a significant role in marketing and promoting online apparel sales. Sustainability and ethical shopping are becoming increasingly important considerations for consumers. Global expansion and subscription services are other emerging trends in the online apparel market. With increased digitization, internet access, smartphones, and digital literacy, online buying of clothes and accessories is set to become the norm. Even luxury brands like Finettchi are joining the bandwagon, offering their collections online.

Market Research Overview

The online apparel retail market has seen significant growth in recent years, driven by various factors. Statistical data shows that ecommerce platforms have become increasingly popular for clothing and accessory purchases, with mobile shopping accounting for a large portion of these sales. Consumers value the wide product selection, convenience, and ease of returns offered by online retailers. Cost savings, personalization, and sustainability are also key factors driving growth. Social media plays a significant role in marketing and influencing fashion trends. Ethical shopping and global expansion are also important trends. Subscription services, free shipping, and customer reviews are essential features that help build consumer trust. Reverse logistics, product quality, and inventory management are critical challenges for online apparel retailers. Shipping costs, last-mile delivery, and rising advertising costs are other significant issues. Changing consumer trends, regulatory compliance, and the coronavirus epidemic have also impacted the market. The increasing digitization and digital literacy, as well as internet access and smart devices, have made online buying more accessible to people. However, challenges such as physical verification, time-consuming processes, and seller expenses persist. Artificial intelligence and machine learning are being used by e-commerce giants to improve fashion decisions, buying habits, and preferences. The market includes various players, from luxury brands like Finettchi and Gucci to production firms like American Apparel. The market is expected to continue growing, but competition and changing consumer trends will remain key challenges.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userMen ApparelWomen ApparelChildren ApparelProductUpper Wear ApparelBottom Wear ApparelOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Trainocate Wins Cisco Learning Partner of the Year – APJC for Second Consecutive Year

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BANGALORE, India, Nov. 15, 2024 /PRNewswire/ — Trainocate Holdings, a leading global provider of technology and business training solutions, today announced that it has been awarded the Cisco Learning Partner of the Year 2024 for Asia Pacific, Japan, and China (APJC) for the second year in a row.

This prestigious award recognizes Trainocate’s outstanding performance, commitment to customer success, and dedication to delivering high-quality Cisco training programs across the region.

“To be recognized once was an honour beyond words, but to be bestowed this distinction again is truly humbling and a testament to the unwavering support and encouragement of those who have walked this journey with us,” said Takashi Ozawa, President & CEO of Trainocate Holdings. “We are deeply grateful for everyone who has been a part of our success. This award reflects our core values of collaboration, excellence, and customer centricity, and it inspires us to continue upholding them in everything we do.”

“Receiving the Cisco Learning Partner of the Year award for a second consecutive year is a true reflection of our team’s dedication and our unwavering pursuit of excellence,” said Khor Hee Soo, CTO of Trainocate Holdings, Managing Director for India, and Chairman for Sri Lanka and UAE. “This recognition not only celebrates the hard work of everyone at Trainocate but also reinforces our commitment to empowering individuals and organizations across the APJC region with transformative learning solutions. We are deeply grateful to Cisco for their partnership and look forward to continuing our journey of innovation and impact in the learning and development space.”

During the award ceremony held on 23 October 2024, Cisco highlighted Trainocate’s impressive achievements within the past year, including:

32% of Instructor-Led Training (ILT) seats sold in the APJC region.45% of Cisco U subscriptions sold in the APJC region.Exceptional learner satisfaction on score of 94%.

These accomplishments demonstrate Trainocate’s strong track record of delivering impactful and engaging learning experiences that help professionals achieve their career goals and organizations drive digital transformation.

As a Cisco Platinum Learning Partner, Trainocate offers a comprehensive portfolio of authorized Cisco training courses, certifications, and learning solutions. With over 29 years of experience, Trainocate is a trusted partner for organizations seeking to upskill their workforce and stay ahead of the curve in today’s rapidly evolving technology landscape.

About Trainocate Holdings

Trainocate Holdings is a leading provider of IT and professional training, offering a comprehensive range of courses and certifications across various domains.

Boasting a global presence in 22 countries (and counting!) and a commitment to excellence, Trainocate empowers individuals and organizations to achieve their full potential through continuous learning and development.

With 30+ authorized training partnerships and countless awards from leading technology vendors, you’re guaranteed learning from the industry’s elite when you #GetTrainocated.

For more information, visit Trainocate’s website www.trainocate.com.

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Can Independent Physicians Survive in 2025?

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Learn How at an Exclusive Webinar on Nov. 20th Hosted by Medical Economics and Specialdocs 

CHICAGO, Nov. 14, 2024 /PRNewswire/ — In healthcare change is inevitable, but for independent physicians already facing an uncertain economic forecast in 2025, the prospect of a new administration is sparking even more concern. To help decipher the implications of an ever-evolving regulatory and reimbursement landscape, Medical Economics has teamed up with Terry Bauer, CEO of concierge medicine pioneer Specialdocs Consultants, and Max Reiboldt, Chairman of leading healthcare advisory, Coker, to present an exclusive, informational webinar for physicians on November 20th. Bauer and Reiboldt bring insights gained collectively over more than a century advising physicians on career strategies, to address the headwinds that threaten to topple private medical practices, and explain why concierge medicine offers one of today’s most viable pathways to retaining independence. 

Prominent healthcare industry experts share how physicians can thrive in 2025: join our complimentary webinar on Nov. 20th.

CLICK HERE to register for “2025 Forecast for Physicians: Financial Headwinds, Continued Burnout, and How Concierge Medicine May Be the Cure for What Ails You” at 7 pm CST/8 pm EST on Wednesday, November 20th.

“Now representing just 22% of all practices,1 the independent physician is in danger of disappearing altogether amid unrelenting financial, professional and personal pressures,” says Bauer. “Among other challenges, rising costs to operate a traditional practice and continual cuts to Medicare reimbursements have contributed to an overall 29% downward slide in Medicare compensation over the last two decades.”2

He continues: “Yet we know that a change to our membership medicine model can prove lifesaving, restoring practice sustainability and ushering in a new era of unparalleled career satisfaction. We’ve long championed this solution for physicians in private practice, who have been consistently unappreciated for the very real value they bring to their patients and the health system.” 

Adds Reiboldt: “Physicians in private practice are still a cornerstone of our healthcare system yet are facing challenges that threaten their existence. More and more physicians are affiliating with capital and/or strategic partners, which is not a bad thing but still threatens their independence and private structure.”

A number of crucial issues will be examined during the webinar. “We will approach these with sensitivity as all providers (physicians, health systems, private and public investors, et al) share in both the credit and the blame for our current state of affairs,” says Reiboldt.

Topics will include:

The new administration’s approach to lowering costs, reducing regulatory barriers to consolidation and expanding price transparency mandates for healthcare services.Future use of AI and other technologies to drive greater efficiencies, quality of care.The outlook for primary care providers and programs such as Medicare Advantage, risk-based reimbursement, quality incentives.How upcoming changes in reimbursement and regulations impact the financial viability of traditional practices.Strategies for maintaining or regaining independence as a practitioner; concierge medicine as a model offering sustainable financial security and work-life balance.

About Our Speakers

Terry Bauer is CEO of Specialdocs Consultants. With more than three decades of healthcare leadership experience, Terry has a reputation for bringing about positive change as a strategist, builder, and driver of successful, high-performance companies. Terry’s mission at Specialdocs: to elevate the profile and escalate the growth of this firm that has pioneered the transition from traditional to independent concierge medicine practices, with a focus on expanding the reach and portfolio of high-quality services provided to the company’s growing national network of exceptional physicians. Terry’s career includes a long tenure as co-founder, president, CEO, and director of Orion HealthCorp, a national physician services and management organization. He has served on the board of directors of Specialdocs since Shore Capital Partners invested in the firm in 2015, and became CEO of the company in 2016.

Max Reiboldt, CPA, is Chairman of Coker. His 45 years of work in business and industry, primarily involving healthcare providers, has given him invaluable experience. He handles strategic, tactical, financial, and management issues that health systems, physicians, and other healthcare entities and/or investors face in today’s evolving marketplace. Max understands the nuances of the healthcare industry in a dynamic age, and how healthcare organizations need to maintain viability in a highly competitive market. Whether a transitional provider or a more trailblazing healthcare entity, Max works to provide sound solutions to everyday and long-range challenges with a hands-on approach much valued by his clients. Max oversees Coker’s services as part of the Executive Committee, and maintains his passion for working with clients and organizations of all sizes.

Physician’s Advocacy Institute reportAMA 2024 Medicare Updates

Media Contact:
Mindy Kolof
mkolof@specialdocs.com 
8479213271

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SOURCE Specialdocs Consultants

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Rokid Glasses: Where AI Meets AR, Rivaling Meta’s Ray-Ban in an Exclusive Unveiling at Rokid Jungle 2024

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REDWOOD CITY, Calif., Nov. 14, 2024 /PRNewswire/ — Rokid is poised to unveil its groundbreaking next-generation smart glasses, the Rokid Glasses, at the highly anticipated Rokid Jungle 2024 event, set to take place on 18 November in Hangzhou, China. Seamlessly integrating cutting-edge artificial intelligence with augmented reality, Rokid Glasses represent the pinnacle of innovation. As the most eagerly awaited event in the augmented reality calendar, Rokid Jungle 2024 is destined to be the largest and most consequential gathering of its kind on the global stage. With an impressive turnout expected of over 1,000 distinguished attendees, the event will serve as a landmark occasion, bringing together partners, visionaries, and industry leaders. The launch of the Rokid Glasses promises to elevate the smart daily experience to unprecedented heights, setting new standards in the realm of wearable technology.

Rokid Glasses: Transforming AI and AR into an Essential Daily Gadget for All
Rokid Glasses combine style, comfort, and lightweight design with intuitive, AI-powered features. Integrated with Alibaba’s Tongyi Qianwen AI, Rokid Glasses offer a range of capabilities, including object recognition, text translation, and even solving complex math problems. It can calculate the calorie content of food or provide real-time language translation, making it an indispensable tool for travelers.

Empowered by Zhi Xiaobao, Alibaba’s AI assistant, Rokid Glasses allow users to take full control of their world with simple voice commands, whether booking a ride or ordering a coffee. The advanced voiceprint recognition technology also facilitates secure payments via Alipay, ensuring a seamless and trusted connection to the user’s phone. Alipay’s cutting-edge AI audio detection technology guarantees top-tier security and fraud prevention during transactions.

A standout feature of Rokid Glasses is the ability to view message notifications directly through the glasses, effectively replacing the need for a phone screen. This functionality hints at a future where Rokid Glasses may evolve into a central hub of daily life, potentially replacing smartphones altogether as an essential tech gadget. “We’ve crafted our new glasses to redefine the user experience, bringing the world’s first AI+AR glasses to daily life,” says Misa Zhu, Founder and CEO of Rokid. “Our mission is to make high-quality AI+AR glasses accessible to everyone, and this launch marks a bold step in that direction.” True to Rokid’s ethos of Leave Nobody Behind, the Rokid Glasses bridge gaps in accessibility, usability, and comfort, ensuring that everyone can experience the transformative power of innovation.

Rokid’s Role to Impact Global Tech Arena and Its Commitments for leading AR Industry
Rokid is making significant strides in transforming the museum experience using augmented reality (AR) technology to enhance visitor engagement. By providing immersive, interactive experiences, Rokid brings historical artifacts and exhibitions to life in exciting new ways. With over 2.5 million users benefiting from its AR glasses and more than 300,000 of these users have made actual purchases and are actively engaged with the devices. Even more striking is the fact that Rokid users spend an average of 2 hours and 45 minutes daily with Rokid glasses—this not only underscores the strong appeal of Rokid’s products but also reflects the growing consumer interest in and adoption of augmented reality technology.

Rokid’s ecosystem continues to flourish, with over 6,200 registered developers, highlighting the company’s significant progress in cultivating an open and thriving ecosystem. As the race in augmented reality heats up, major players are competing for dominance in this rapidly evolving space. With AR technology expanding its global footprint, the question remains: who will emerge as the true leader in the AR industry? While the collaboration between Ray-Ban and Meta has brought new energy to the smart glasses market, Meta continues to face challenges. Despite a decade of investment in XR, VR, and AR, Meta has made strides with VR hardware like the Meta Quest but still struggles with slow user adoption and limited AR functionality.

Rokid Jungle 2024: A Decade of Breaking Boundaries in Augmented Reality
Rokid Jungle 2024 commemorates a significant milestone: Rokid’s 10th anniversary and the beginning of the next decade of AR innovation. From its founding in 2014, Rokid has maintained a relentless focus on human-computer interaction, driving the evolution of AR technology through unwavering dedication to innovation. From setting industry standards with the original Rokid Glass to the highly regarded consumer product Rokid Air, and now with the trendsetting AR Studio and AR Lite, Rokid has played a key role in propelling the AR industry forward.

With the launch of the latest Rokid Glasses, the company reaffirms its leadership in the new wave of AR technological innovation. To mark this remarkable milestone, Rokid is delighted to offer a $20 benefit on all purchases made via the official website, using the code ROKID10 at checkout. Looking ahead, Rokid is thrilled to showcase its innovations at CES 2025, where will continue to lead the charge in AR technology. Rokid looks forward to seeing you there and sharing the next chapter of this exciting journey.

Email: pr@rokid.com
Rokid Official Website https://global.rokid.com/

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SOURCE Rokid

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