UK FASHION ECOMMERCE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

UK Fashion Ecommerce Market Size and Trends

The UK Fashion E-commerce market size was at US$ 31.19 billion in 2023 and is expected to reach US$ 85.51 billion by 2030, growing at a compound annual growth rate (CAGR) of 15.5% from 2023 to 2030. The market comprises of the online sales of fashion products including clothing, footwear, accessories, jewelry, bags, and others. The growth is driven by increasing internet and smartphone penetration, convenience of online shopping, and growing popularity of fast fashion brands.

The UK Fashion E-commerce market is segmented based on product type, end user, price range, distribution channel, and region. By product type, the market is segmented into clothing, footwear, accessories, jewelry, bags, and others. The clothing segment accounted for the largest share of the UK Fashion E-commerce market in 2022. The growth in this segment is attributed to the rising demand for trendy and affordable fast fashion clothing among millennial and Gen Z consumers.

UK Fashion E-commerce Market Trends:

• Rising smartphone usage: In the contemporary era dominated by the internet and skyrocketing smartphone usage, the landscape of e-commerce, particularly in the UK Fashion E-commerce market, has undergone a transformative shift. The surge in mobile commerce (m-commerce) is reshaping dynamics within the industry, with forecasts indicating that retail sales from m-commerce in the United Kingdom are poised to exceed the significant milestone of 100 billion British pounds by 2024. This trend aligns seamlessly with the widespread adoption of mobile devices, as nearly 100 percent of individuals aged 16 to 24 in the UK were smartphone owners in 2022. As a consequence, the intersection of mobile technology and fashion e-commerce is becoming increasingly integral, showcasing a pivotal trend where accessibility and convenience converge, and shaping the future trajectory of the UK Fashion E-commerce market.
• Voice Commerce: Voice commerce is an emerging shopping trend, allowing customers to use voice assistants for online shopping. Voice assistant devices like Amazon Alexa provide a hands-free and convenient way to place orders. UK retailers can tap this trend by making their site’s voice assistant enabled. Customers will be able to add items to carts and complete purchases through simple voice commands in the future. Voice search is also growing, allowing consumers to use voice to search for fashion products.
• Video Commerce: Video commerce is on the rise with young consumers increasingly using platforms like YouTube, Instagram, and TikTok for fashion inspiration. Many online retailers are leveraging videos for styling tips, fashion tutorials, product demonstrations and behind-the-scenes content. Shoppable video ads and livestreams enable direct purchase of featured products. Interactive video shopping experiences provide engagement and help drive conversions. The use of videos is expected to continue rising in online fashion retail.
• Social Commerce: Social commerce is a fast-growing Fashion E-commerce trend. Social media platforms like Instagram and Snapchat have launched in-app checkout and shop features, enabling users to shop directly through social apps and posts. Retailers have also added social buying options allowing shoppers to seek opinions from friends before purchase. Tools like shoppable livestreams and post tags drive social commerce. As social media becomes more transactional, social commerce will gain traction in online fashion.