About Online Clothing Service
The Online Clothing Service is an at-home try-on service in which each customer works with a stylist who curates clothing for their box, which is delivered to their home or workplace; the user can then keep or return the things, with invoicing occurring at the conclusion of the process for any items kept. Women's, men's, children's, and infant apparel, shoes, and accessories are all eligible. Consumers like to buy garments online since there is a big selection available at a lower price. The Global Online Clothing Service is being driven by this client trend. Consumers can save money by using an online clothing service. Individuals who are fashion-conscious but lack the desire to try on garments before purchase are expected to make the most of online clothing services.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.8% |
The demand for Online Clothing Service is increasing. Businesses in this sector face global competition from market leaders who control a large share of the market. Companies are differentiating their products from competition by employing environmentally friendly materials and manufacturing techniques. The Leading Players are engaging in strategic global expansion to maintain their Market Position. Players are expected to focus on the creation of new compounds, which would likely drive the worldwide market forward over the forecast period. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Online Clothing Service market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Amazon (United States), Stitch Fix (United States), Casper (United States), Bonobos (United States), Trunk Club (United States), BlackCart (Canada), Daily Look (United States) and Gentleman's Box (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are TryNow (United States) and Thirdlove (United States).
Segmentation Overview
AMA Research has segmented the market of Global Online Clothing Service market by Type (Formal, Casual, Party wear, Traditional and Others) and Region.
On the basis of geography, the market of Online Clothing Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Trial Period, the sub-segment i.e. 3 Days will boost the Online Clothing Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Price Range, the sub-segment i.e. Premium will boost the Online Clothing Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Men will boost the Online Clothing Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Prevalence of Try-Before-You-Buy Model
Market Growth Drivers:
Growing Popularity of Fashion Blogs and Vlogs and Increasing Adoption of Online Retail
Challenges:
Lack of Customer Retention and Increase in Intentional Returns
Restraints:
Lack of Awareness of Online Clothing Service
Opportunities:
Growth of E-Commerce and Rising Internet Penetration
Market Leaders and their expansionary development strategies
In May 2023,Aditya Birla Fashion and Retail (ABFRL) has entered into definitive agreements to acquire TCNS Clothing, the owner of ethnic brands, incluidng W, Aurelia, Wishful, Folksong and Elleven.
In December 2019, Myntra has announced the launch of ‘Alterations’ as a new value added service The first of its kind feature enables shoppers to opt for alteration services a at their doorstep for apparel purchased on Myntra.
Key Target Audience
Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners and End-use industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.