Online fashion has grown 258% in four years
For the first time ever, IMRG has produced a report outlining the performance of the fashion industry as a standalone e-retail sector – supported by Silverpop.
Key highlights include:
– Online fashion sector grew 258% between January 2009 and December 2013
– Fashion has been best-performing e-retail sector for four out of last five years
– Online fashion returns being driven down by click and collect, which accounts for 25% of Multichannel retailer sales
– Fashion growth of nearly 17% in 2013
The fashion category of the IMRG Capgemini e-Retail Sales Index grew by 258% between January 2009 and December 2013 and has outperformed the other sectors in four out of the past five years. With total e-Retail sales topping £91bn in 2013 and representing 21% of total retail, online is now a key driver for growth in any retail business.
Andrew McClelland, chief operations and policy officer at IMRG, said: “The Fashion Sector Insight Report is the first of its kind, based on many years of data form the IMRG Capgemini e-Retail Sales Index. The strength and depth of the data sets means we can illustrate trends and track the considerable growth that we are seeing in online fashion.”
“We have seen changes in the way consumers buy clothing, such as the rise of mobile devices and click and collect, which have contributed to an increase in confidence when shopping online. This report will help fashion retailers understand industry-wide trends and how they might affect their sector and own performance.”
Fashion retailers were slower off the mark in the early days of online for a variety of reasons but today, e-Retail represents major opportunities for both Multichannel and Pureplay fashion retailers. Growth of nearly 17% in 2013 and a continuing strong positive trend would indicate that 2014 will be another year of ‘step-change’ for the industry.