The US apparel market is the largest in the world, with an approximate valuation of $342 billion. However, this market is changing rapidly, as shifting consumer tastes and the continued ecommerce explosion force brands and retailers to evaluate their physical stores and commerce strategies. On top of this, the spectre of Amazon looms as the company launches private label brands and gains fashion credibility in the eyes of consumers.
Younger consumers are the largest drivers of this shift, as millennial preferences for digital-first experiences shift traditional pillars of fashion retail towards an ecommerce oriented approach. In fact, ecommerce fashion sales are expected to grow by ten percent annually through 2020, signaling the importance of a strong digital presence to companies’ bottom lines.
To find out more about the demands and preferences of today’s consumers for their shopping experiences in the fashion industry, Astound Commerce surveyed 1,000 consumers that have shopped for fashion online at least 4 times in the past year.
The report reveals that both young and old consumers are adopting new store models and digital channels like voice, and that, despite the rumored death of the physical store, brick and mortar locations are still the top factor for consumer fashion purchases.
To learn more, fill out the form to download A Window into the Fashion Shopper's World.
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