The Apparel Re-Commerce Market is poised to maintain a moderate CAGR of approximately 24.6% throughout the forecast period. Projected revenue for the global market stands at approximately US$ 72.12 Billion in 2022 and is expected to surpass US$ 652.3 Billion by the conclusion of 2032.
The Apparel Re-Commerce market is expected to demonstrate promising growth opportunities in the forecast period, enlarging its market size. The substantial rise in global internet adoption has led to significant growth in B2C e-commerce sales since 2010. With a notable compound annual growth rate (CAGR), e-commerce sales are expanding, making the clothing market accessible to customers worldwide. Key players in e-commerce sectors, particularly online fashion, have played a vital role in increasing demand and driving up global B2C e-commerce sales.
Over the forecast period, the e-commerce sales are expected to grow at CAGR of 17.5% with a turnover of US$ 2,671 billion. Some of the major sectors in e-commerce such as the online apparel have been playing a pivotal role in stimulating the demand and growth in global e-commerce B2C sales. With the continued growth of online apparel store, the sector has been enduring a new trend with the simultaneous growing demand for apparel re-commerce market.
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Global Apparel Re-commerce Market: Reasons for Covering this Title
Following the consumers’ desire for owning luxury apparels, apparel re-commerce provide services giving its consumers greater incentives on buying and reselling these kinds of products. Apparel re-commerce market provides its seller with services such as photographing, pricing and posting inventory information online. Other than this, apparel re-commerce market provides other critical services such as peer-to-peer marketplace place where one can compare the prices of the same kind of apparels and connect directly with the seller.
Owing burgeoning response for the services provided by apparel re-commerce platform, some of the major companies operating in the market, have been making a key investment to propel its growth in terms of value sales over the forecast period. The confluence of factors such as increased seasonal inventory supply and demand, investment nature of certain luxury products, brand momentum in the retail channel and millennial penetration has been triggering the growth of apparel re-commerce market.
Global Apparel Re-commerce Market: Key Players
Some of the key players operating in the global Apparel Re-commerce market are Vestiaire Collective, The RealReal, Tradesy, Poshmark, ThredUP, Vinted, SnobSwap, Threadflip among others.
Apparel Re-commerce Market: Key Trends
Since 2009, some of the major companies in the market has invested more than half a billion dollars in venture funding for apparel re-commerce market
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Apparel Re-commerce Market: Key Developments
- In 2017, Vestiaire Collective invested around US$ 162 million accounting to a total fund to US$ 130 million in five funding rounds since the company’s commencement in 2009.
- In 2016, Swap.com announced an investment of US$ 20 million into its business operation. The company currently operates a Chicago warehouse which is the size of six football fields.
- In 2011, The RealReal has raised a total of US$ 122 million whereas ThredUP has raised US$ 131 million since its inception in 2009.
Opportunities for Apparel Re-commerce Market Participants
The social media penetration has been on the higher end since the past couple of years which is attributable to the increased usage of social media channels (Facebook, Twitter, Instagram etc.) by most of the millennial population around the globe. This one crucial factor paves a critical opportunity for apparel re-commerce market to generate sales by promoting its products and service to its target segment.
For instance, in 2012, a UK based company Depop came up with secondhand fashion app which is being designed to look and function like a social media site rather than an online store. Here the users can like and follow other users, rate their customer experience, bargain over prices and can even comment on items that are being posted for sale. The company has over 5 million users and sells more than 500,000 item on monthly basis.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the Apparel Re-commerce market, including background and evolution
- Macroeconomic factors affecting the Apparel Re-commerce market and its potential
- Apparel Re-commerce Market dynamics, such as drivers, challenges, and trends
- Detailed value chain analysis of the Apparel Re-commerce market
- The cost structure of the products and segments covered in the study for Apparel Re-commerce Market
- In-depth pricing analysis, by key product segments, regions and by major Apparel Re-commerce market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario for Apparel Re-commerce
- Analysis of the Apparel Re-commerce market structure, including a tier-wise categorization of key market participants
- Competitive landscape of the Apparel Re-commerce market, including detailed profiles of the top players in this market
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Japan
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
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