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Apparel Segment will Dominate the Online Apparel, Footwear, and Accessories Market in the US Until 2

LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the online apparel, footwear, and accessories market in the US is expected to grow more than 16% by 2020.

This research report titled ‘Online Apparel, Footwear, and Accessories Market in the US 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. To calculate the market size, the report considers the revenue generated from the online business-to-consumer (B2C) sales of products to individual customers in the US.

Online retail market in the US versus global online retail market

The availability of a wide variety of merchandise, price comparison features, and extended applications to check with friends about a new purchase, alongside consumer engagement initiatives on social media platforms, have favored the demand for online retailing in the US. Apparel, footwear, and accessories have also gained online traction, as they are relatively small-ticket items and have low perceived risk related to product delivery and returns. Online retailers gain due to the prevailing internet penetration rate and consumers' comfort while transacting online. Moreover, growing use of smart digital gadgets such as tablets and smartphones enable consumers to ease their online shopping experiences.

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Technavio’s consumer and retail analysts categorizes the online apparel, footwear, and accessories market in the US into three major segments by products. They are:

Apparel

Accessories

Footwear

Online apparel market in US

The apparel segment is the largest contributor to the online apparel, footwear, and accessories market in the US. It is likely to reach USD 137.9 billion by 2020, growing at a CAGR of 15.51%. Online retailers in the US advertise apparel lines through electronic and print media and social media platforms such as Facebook and Twitter. For instance, Zara’s "TRF LOOKBOOK" on Pinterest, H&M’s "#HMLoves," Gap’s "Born to Fit" and "Pin to Win" on Facebook are some of the successful social media campaigns.

“Many e-retailers offer a wide range of apparel brands at prices lower than those offered by economy brands offline. This has driven many US consumers to choose online shopping. Of late, online shopping for apparel has gained momentum, as almost all portals offer easy returns policies. For instance, Amazon, Gap, and H&M provide 30-day return policies for all ranges of apparel,” according to Brijesh Kumar Choubey, a lead apparel and textileresearch analyst from Technavio.

The tops segment contributes the largest amount of revenue in the online apparel market in the US. The replacement purchases of tops and rising apparel prices will sustain the segment's growth during the forecast period. The progressive reduction of the unemployment rate will drive the demand for blouses and other dress shirts such as button-downs from brands like Tommy Hilfiger from PVH. The demand for these tops is rising because women are re-entering the workplace and purchasing more professional clothing.

Online footwear market in US

The online footwear market in the US was valued at USD 18 billion in 2015 and is likely to reach USD 38.56 billion by 2020, growing at a CAGR of 16.46%. A growing population and increasing disposable personal income are some of the major factors boosting the revenue of online footwear marketers in the US. In the US, footwear is sold through numerous retail outlets, including specialty stores, department stores, mass merchandisers, discount or off-price stores, and internet retailers. The major footwear retailers include mass merchants such as Walmart and Target; specialty stores such as Famous Footwear, Naturalizer, and Payless ShoeSource; and discounters such as TJ Maxx. Department store operators such as Nordstrom and Macy’s account for a significant share of shoe sales.

The continuing interest in exercise, including walking, jogging, and running, is likely to increase the demand for athletic footwear. The trends toward preferences for minimalist and lightweight running shoes over regular and traditional heavy-cushioning running shoes have boosted sales over the recent period because athletes prefer the performance benefits of carrying less weight. SAUCONY KINVARA 6 by Wolverine and NIKE FREE 4.0 FLYKNIT by Nike are two examples of popular minimalist running shoes.

Additionally, the trend toward lighter shoes will gain traction in other types of athletic footwear. In order to help players to perform at the high level, some athletic cleats now feature lightweight construction. Branding is another key factor boosting the sales of athletic shoes, as consumers are more likely to pay higher prices to buy well-known athletic footwear brands. Additionally, marketers benefit from brand endorsements by professional athletes such as AIR JORDAN from Nike and sports teams.

Online accessories market in US

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