E-commerce Fashion Accessories market to Eyewitness Huge Marginal Growth by 2028Posted by Mrudula Anil Karmarkar on July 6th, 2022 The global e-commerce fashion accessories market size is estimated to reach USD 475.2 billion in 2028 and is expected to expand at a CAGR of 14.7% from 2022 to 2028, according to a new report by Grand View Research, Inc. The rising embracing and practice of e-commerce for fashion accessories offer the user an operative purchasing practice by giving admittance to global market data which assists them to assess numerous reasons allied with accessories is one of the key factors that drive the growth of the market. In addition, the swelling adoption of smartphones along with intensifying internet penetration, eCommerce, and social media is also driving the global market. E-commerce offers the consumer a great diversity of selections for fashion accessories to pick from. Additionally, it aids the consumer to purchase goods from all over the world which is surging its adoption thus fueling the market growth over the forecast period. The unavailability or insufficient security of systems, standard protocols for communication, and reliability is a major factor restraining the market growth. Most of the key players operating in the market are adopting acquisition strategies to capture maximum market share globally. The COVID-19 pandemic has positively impacted the global market. The market witnessed an upsurge due to the global lockdown as users moved towards eCommerce to buy required accessories and items to prevent the spread of infections across the globe. Most of the countries remained under strict restrictions which leads to the increased usage of eCommerce. The watches & jewelry segment contributed to the global market revenue share by over 40% in 2021. e-Commerce provides a crystal clear and reliable procedure and supply of watches & jewelry which leads to its growing adoption hence boosting the market growth. Moreover, factor such as the cost-effectiveness of products is providing lucrative opportunities for the development and growth of the watches & jewelry segment in eCommerce. Thus, its demand is high and contributes more to the market revenue. The Asia Pacific accounted for the largest market share of more than 50% in 2021. Innovative and evolving business networks and prototypes is driving the market in this region. The growing usage of mobile and the rising permeation of the internet is a reason for the growing demand for e-commerce fashion accessories. The rising disposable income of the targeted population base in countries like China, India, Japan, and South Korea is also contributing to the market growth. Thus, it contributes to more revenue generation in the Asia Pacific. To Request Sample Copy of this report, click the link:
E-commerce Fashion Accessories Market Report Highlights
The global market is characterized by the presence of established as well as new players. Most of the key players working in the eCommerce fashion accessories market are adopting various strategies such as alliances, partnerships, mergers, development & launch of new systems to gain maximum share in the market. For instance, the announcement for the acquisition of Souq a leading eCommerce company in the Middle East & Africa was made by Amazon in 2017. In addition, in September 2018, Walmart Inc. acquired Flipkart to provide users with an eCommerce shopping portal. It consists of a wide and diverse range of products. Additionally, in May 2018, Alibaba Group Holding Limited acquired Open Sky to provide users with an online platform where they can experience a marketplace for social shopping. Some of the prominent players in the global e-commerce fashion accessories market include:
Like it? Share it! More by this author |