Apparel and Footwear Market is Driven by Increment in Internet Users and Lucrative Discounts in US: Ken Research
Ken Research announced its latest publication on “The US Online Apparel and Footwear Market Outlook to 2019” which provides a comprehensive analysis of the online apparel and footwear in the US. The report covers various aspects such as market size of online apparel and footwear market, segmentation on the basis of types of product and by seasonal demand. The report is useful for apparel and footwear retailers, e-commerce portals and new players venturing in the market.
The online apparel and footwear market in the US has witnessed a growth in recent years on account of rising consumer spending, easy accessibility and time saving features. The surge in growth is majorly originated from growth in apparel as a segment of market. The growth in this segment has been largely led by the factors such as rising number of young working class people and growth of fashion conscious population. The online market in the US is comprised of large companies such as Amazon, eBay, Walmart, Kmart, Gap, ASOS and Forever21 which posses a large product portfolio of apparel and footwear. The US online apparel and footwear market revenues have grown at a CAGR of ~ % during 2009-2014.
According to the research report, the US online apparel and footwear market will grow at a considerable CAGR rate thus exceeding USD ~billion by 2019 due to the increasing working class population and rising number of brick and click stores.
“While rising disposable incomes, boom in internet penetration rate and an increase in the preferences to shop online will result in increased spending on apparel and footwear purchased online in the US, high logistic charges and lack of trust are few of the major challenges which will affect the growth of this industry in the future”, according to the Research Associate, Ken Research.