UK Fashion E-Commerce Market

UK Fashion E-Commerce Market Overview:

The UK fashion e-commerce market size reached USD 44.62 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 184.72 Billion by 2032, exhibiting a growth rate (CAGR) of 15.60% during 2024-2032. The market is propelled by the digital changes and technological developments, varying consumer preferences, increasing access to global market, growth of social media and influencer marketing, increased focus on sustainability and ethical fashion, and innovative payment solutions and buy-now-pay-later (BNPL) options.

UK Fashion E-Commerce Market Trends:

Digital Transformation and Technological Advancements

The UK fashion e-commerce market experiences a major influence from the rapid digitization and technological advancements. Penetration of high-speed internet and the consistent use of smart mobile phones by individuals elevates their online purchasing experience. According to the Social Mobility Commission, there were 27% of households with “gigabit” internet capacity across the UK, which further went up to 76% by the year 2023. E-commerce sites use advanced technologies, such as augmented reality (AR) and virtual reality (VR), to provide virtual dressing rooms and enhance the viewable perspective of the product. Moreover, AI/ML algorithms are used for personalizing shopping experience, achieving optimal inventory management, and offering better consumer service. With the use of chatbots and virtual assistants, these technologies have improved user engagement as well as streamlined operations while making it easier for consumers to discover and buy fashion items online.

Changing Consumer Preferences and Behavior

With the change in consumer tastes and habits, the UK fashion e-commerce market is considerably influenced. Modern consumers prefer convenience, and online shopping offers them a smoother, 24X7 shopping experience that brick-and-mortar stores lack. The COVID-19 pandemic has fueled the growth of e-commerce as consumers relied more on online shopping due to lockdowns and social distancing restrictions. As per Gitnux, 87% of UK households adopted online shopping in the year 2020, with fashion being the most popular category. On the other hand, social media plays a significant role in driving the market, as influencer and fashion bloggers help change trends and influence individuals to adopt online stores. Besides this, increased demand for sustainability and ethical fashion is leading online retailers to respond with these approaches by embracing eco-friendly practices and transparent supply lines. Conscious consumerism is represented in the popularity of sustainable brands, where there are efforts to identify dedication to sustainability, ethics sourcing, and fair labor standards.

Expansion of Global Market Access

The expansion of global market access is another significant factor driving the UK fashion e-commerce market. With the increasing globalization of trade and advancements in logistics and supply chain management, UK fashion retailers are now able to reach international consumers more efficiently. The growth of cross-border e-commerce has been facilitated by improved payment systems, localized consumer support, and the ability to cater to diverse preferences and sizes. Additionally, global marketplaces and platforms such as Amazon and Alibaba have provided UK fashion brands with new opportunities to expand their reach beyond domestic borders. This international expansion opens up new revenue streams and allows UK fashion retailers to tap into emerging markets with growing consumer spending power. The ability to operate on a global scale also provides UK fashion e-commerce businesses with valuable data and insights into international fashion trends, further driving innovation and market competitiveness.

UK Fashion E-commerce Market News:

• October 2023: Shein, the China-founded fast-fashion retailer, has acquired the intellectual property and trademarks of British fast-fashion brand Missguided from Mike Ashley's Frasers, marking its first purchase of a British brand.

UK Fashion E-commerce Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product type, end user, price range, and distribution channel.

Product Type Insights:

• Clothing
• Footwear
• Accessories
• Jewelry
• Bags
• Others
   

The report has provided a detailed breakup and analysis of the market based on the product type. This includes clothing, footwear, accessories, jewelry, bags, and others.

End User Insights:

• Men
• Women
• Kids
• Unisex
• Others
   

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes men, women, kids, unisex, plus size, pet fashion, and others.

Price Range Insights:

• Premium
• Mid-Range
• Economy
• Luxury
• Others
   

The report has provided a detailed breakup and analysis of the market based on the price range. This includes premium, mid-range, economy, luxury, super luxury, discount/value retail, and others.

Distribution Channel Insights:

• Online Only
• Omnichannel
• Brick and Mortar Only
• Department Stores
• Specialty Stores
• Direct to Consumer
• Others
   

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes online only, omnichannel, brick and mortar only, department stores, specialty stores, direct to consumer, and others.

Regional Insights:

• London
• South East
• North West
• East of England
• South West
• Scotland
• West Midlands
• Yorkshire and The Humber
• East Midlands
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

UK Fashion E-commerce Market Report Coverage:

Key Questions Answered in This Report:

• How has the UK fashion E-commerce market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the UK fashion E-commerce market?
• What is the breakup of the UK fashion E-commerce market on the basis of product type?
• What is the breakup of the UK fashion E-commerce market on the basis of end user?
• What is the breakup of the UK fashion E-commerce market on the basis of price range?
• What is the breakup of the UK fashion E-commerce market on the basis of distribution channel?
• What are the various stages in the value chain of the UK fashion E-commerce market? 
• What are the key driving factors and challenges in the UK fashion E-commerce?
• What is the structure of the UK fashion E-commerce market and who are the key players?
• What is the degree of competition in the UK fashion E-commerce market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the UK Fashion E-commerce market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the UK Fashion E-commerce market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the UK Fashion E-commerce industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.