CALIFORNIA, UNITED STATES, December 11, 2023 /EINPresswire.com/ — The Electronic China Fashion Ecommerce market involves online retail of apparel, footwear, cosmetics, jewelry and other fashion accessories through electronic devices. Growing Chinese middle class and millennials prefer online shopping due to convenience and access to latest fashion trends. Ecommerce platforms provide modern payment solutions, fast deliveries and large product selections to Chinese customers.

According to Coherent Market Insights study, The China Fashion Ecommerce market size was valued at US$ 645.84 billion in 2023 and is expected to reach US$ 1,938.32 billion by 2030, grow at a compound annual growth rate (CAGR) of 17% from 2023 to 2030

Market Dynamics:

The Electronic China Fashion Ecommerce market is expected to witness significant growth during 2023-2030 owing to rising disposable income and online shopping in China. Growing digital connectivity and tech-savvy population is increasing online retail sales in the country. Young Chinese customers extensively use smartphones for online purchases, mobile payments and social media/reviews to explore latest fashion trends. Ecommerce giants are launching mobile apps, voice shopping capabilities and implementing big data analytics to better understand consumer behavior and offer personalized recommendations. Fashion brands and retail platforms are also investing in AI, VR/AR technologies to provide immersive shopping experiences and optimizations across supply chain and logistics networks to boost customer satisfaction.

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The major players operating in the market include:

➱ Alibaba Group

➱ JD.com

➱ Pinduoduo

➱ Vipshop

➱ Ymatou

➱ Xiaohongshu

➱ Suning.com

➱ Gome Retail

➱ Dangdang

➱ Secoo

➱ Mogu Inc

➱ Meilishuo

➱ Dolap

➱ Shangpin

➱ Yanxuan

➱ Yoho!Buy

➱ Mei.com

➱ Amazon China

➱ NetEase Kaola

➱ Tencent

These companies are focusing on new product development, partnerships, collaborations, and mergers and acquisitions to increase their market share and maintain their position in the market.

China Fashion Ecommerce Market Segmentation:

By Product Type

◘ Apparel

◘ Footwear

◘ Accessories

◘ Jewelry

◘ Bags

By Consumer Group

◘ Men’s Fashion

◘ Women’s Fashion

◘ Kid’s Fashion

◘ Plus Size Fashion

◘ Pet Fashion

◘ Others

By Price Range

◘ Premium

◘ Mid-Range

◘ Economy

◘ Ultra Luxury

◘ Mass Market

◘ Others

By Technology

◘ Augmented Reality

◘ Virtual Reality

◘ Artificial Intelligence

◘ 3D Modeling

◘ Others

By Payment Method

◘ Debit/Credit Cards

◘ eWallets

◘ Bank Transfer

◘ Cash on Delivery

◘ Cryptocurrency

◘ Others

Market segment by Region/Country including:

– North America (United States, Canada and Mexico)

– Europe (Germany, UK, France, Italy, Russia and Spain etc.)

– Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)

– South America (Brazil, Argentina and Colombia etc.)

– Middle East & Africa (South Africa, UAE and Saudi Arabia etc.)

Market Driver: Rising Generation Z Population

The Chinese generation Z population, those born between 1995 and 2009, is estimated to reach 450 million people. This generation has grown up completely reliant on e-commerce and digital platforms for all consumer needs. They are heavy users of social media and comfortable making purchases online. As their spending power increases in the coming years, generation Z is expected to be a major driver of growth for the Chinese fashion e-commerce market. Their adoption of new trends and brands online first before exploring in physical stores makes e-commerce platforms highly relevant to target this generation.

Increasing Smartphone Penetration and Mobile Commerce

Smartphone penetration in China has been rising rapidly, with over 1.4 billion phone connections in the country as of 2021. Chinese consumers are some of the heaviest mobile internet and app users globally. The combination of ubiquitous smartphones and high-speed mobile internet access has made mobile commerce a large part of overall e-commerce in China. Fashion retailers have responded by optimizing their sites and apps for mobile use. Well over half of all fashion purchases in China now happen via mobile phones. This shift to mobile is a big driver for the growth of the electronic fashion e-commerce market.

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Market Opportunity: Livestreaming and Social Commerce

Livestreaming has taken China’s e-commerce sector by storm, with millions of people now tuning into live videos to shop directly. Popular livestream hosts (know as Key Opinion Leaders or KOLs) have enabled an entirely new form of interactive and entertaining shopping experience that blends content, community and commerce seamlessly. Fashion brands and retailers are actively participating in the social commerce wave by hosting live shows to launch new collections and leverage influencer marketing. This presents a major opportunity to creatively engage digitally-native consumers and boost online sales conversion rates through a more personalized experience.

Market Trend: Sustainable and Ethical Fashion

Increasingly, Chinese generation Z and millennials care about the environmental and social impact of what they consume. This has led to rising demand for sustainable, ethical and organic fashion products that are consciously manufactured. E-commerce platforms are responding by enabling more detailed product information, certifications and tags to showcase brands’ sustainability credentials. Customers also actively discuss Green issues online. To capture this motivated segment, electronic fashion retailers will adapt their supply chains and marketing to align with shifting consumer values around reduced textile waste, fair labor practices and carbon neutrality. Transparency is important to build lasting trust on ethical trends.

Market Restrain: Security Concerns Regarding Online Payment Data

Despite China’s dominance in areas like mobile payments and digital wallets, some consumers still hesitate to provide financial data online due to security concerns. High profile data breaches and fraud incidents affect consumer trust. While payment platforms continually enhance security features, perceptions of risk can limit online spending on discretionary items like fashion. E-commerce merchants need to clearly communicate the security measures in place and assure customers of safe transactions. Partnerships with well-known payment providers also help to alleviate privacy worries and build confidence for online fashion shopping.

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Frequently Asked Questions (FAQs):

➱ What are the key factors hampering growth of the China Fashion Ecommerce market?

➱ What are the major factors driving the global China Fashion Ecommerce market growth?

➱ Which is the leading component segment in the China Fashion Ecommerce market?

➱ Which are the major players operating in the China Fashion Ecommerce market?

➱ Which region will lead the China Fashion Ecommerce market?

➱ What will be the CAGR of China Fashion Ecommerce market?

➱ What are the drivers of the China Fashion Ecommerce market?

Mr. Shah
Coherent Market Insights
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