Fashion is continuously evolving. Seasons change. Tastes vary. Trends come and go. But people stay people. As per Statista, the global online fashion market was valued at $533 billion in 2018 and is expected to rise to $872billion by 2023. Now that is a clear indication of the mounting upward trend for the clothing and footwear industry worldwide and the growing online fashion market size. Today fashion retailers are majorly aware that buyers now are perfectly comfortable purchasing clothes online that they have not seen or tried on previously. Another Drapers study into the online buying habits of the UK revealed that 48% of shoppers buy clothes online at least once a month. To gain a considerable share in the increasing online fashion market, retailers are now keen to deploy the best user-friendly web platforms to drive their sales and increase minimum purchase of every visitor. eCommerce fashion Trends 2022 The eCommerce Fashion Industry is expected to grow to $1 Trillion by 2025 The fashion business is the biggest of the big. With a global market worth of $759.5 billion in 2021, apparel, accessories, and footwear are the number one eCommerce sector in the world. Apparel: +22.7%, Footwear: +11.6%, Bags & Accessories: +8.5% Bridge deepens between fast affordable designer fashion brands The divide between those willing to pay for appearances and those who do not have the luxury is widening. Shopping habits reflect these divides; particularly aimed at cost-conscious consumers as well as the brand crazy equivalents. As middle-class consumers either disappear after browsing or abandon their carts after checking out the soaring prices beyond their reach. Retailers must likewise provide choices. Profitability & Sustainability is all that matters The struggle for profitability is not new. Even before the coronavirus, eCommerce website casualties were mounting and 2022 will witness the same. Personalisation ‘Couture’s’ the Online Shopping Experience Hyper-personalisation techniques mine into the customer’s behaviours, preferences, and purchase history to determine how to deliver the best value to them. Omni-channel Demands and engagement through Social Media Multi-channel and Omni-channel marketing has turned into a necessity, especially for growing retailers. It means establishing a consistent and purchase centred experience with product recommendations on the digital platforms the audiences inhabit. Fashionable Predictions Rather than peer into the future predictions, instead let us hone in on important Social, Loyalty & relationship factors. Build customer loyalty and offer cross sell recommendations. Coronavirus and unchanged Fashion’s Future The COVID-19 lockdown did damage the fashion industry majorly in 2020 but 2022 will witness even more rise in the eCommerce fashion industry and repeatedly purchased products as more and more people are now glued to digital presence. Tips for fashion retailers to success through eCommerce Focus on the value-for-money factor Most online consumers compare prices across various fashion categories and brands. Thus for great customer experience, focus on finding the right price and assure your loyal customers that they are getting the best value for their selected item. Target Intelligently Invest in cutting-edge techniques and leverage advanced analytics to appeal to your target audience. Also, generate deep insights into customer priorities and repeat customer’s behaviours and provide tailored responses. Balance catalogs and their availability. More effectively manage inventory availability and visibility. Direct the shoppers to where there is stock and where it is unavailable. Make contact when it is back in stock. Stay connected Empower with omnichannel engagement, email marketing, reminders, customer loyalty programs, and fresh ideas with personalised content relevant to the individual and, based on the current times. Optimise website builders persistently Prioritise on Outstanding content, great photography, sharp copy, past happy customer testimonials, complementary products etc. Assure of on-time reliable delivery Emphasis more on guaranteed, speedy, on time, and reliable deliveries. And do ensure backup plans if things go wrong. Provide mobile shopping app with various payment gateways options like credit card, UPI, COD. Choosing a right platform is essential in running successful fashion eCommerce. And that’s why many retailers in the UK are choosing Adobe Commerce today to start selling online. What are the reasons of running eCommerce fashion stores on Adobe Commerce? Mobile Experiences Most customers now use a smartphone (78%) than a laptop/desktop (64%) to shop online. Micro-experiences 65% of shoppers’ revisits websites more frequently before placing orders than they were 12 months ago. Growing Online confidence 44% have purchased something online from a retailer they had not had before the last 12 months. Average Order value AOV 87% value the things they care about and that plays a greater role in how and where they choose to shop and result in increasing AOV. Tech-savvy 70% like to experience more virtual reality used in online stores. Clear pricing The most valued (63%) website content feature is the ease to find product prices. Personalised content experiences 64% would like to see retailers personalising the online experiences based on customers’ preferences and behaviours. Online impact 56% say their overall experience is impacted by their digital interactions with online retailers more than in-store shopping. Environmental responsibility factor 58% say they will switch or stop using a brand if it goes against environmental values that are important to them. References: Michael Page. (n.d.). Retrieved May 2, 2022, from https://www.michaelpage.co.uk/ Common thread collective. Common Thread Collective. (n.d.). Retrieved May 2, 2022, from https://commonthreadco.com/ Salecycle, reduce cart abandonment & increase conversions. SaleCycle. (2022, February 16). Retrieved May 2, 2022, from https://www.salecycle.com/ Docs.magento.com. (n.d.). Retrieved April 29, 2022, from https://docs.magento.com/
