Key Insights
Essential data points from our research
The global fashion retail market was valued at approximately $1.5 trillion in 2022
E-commerce accounted for 23% of global fashion retail sales in 2022
The fast fashion industry is expected to reach $133 billion by 2026
Sustainable fashion is projected to grow at a CAGR of 9.1% from 2021 to 2030
In 2023, 60% of fashion retailers implemented AI tools in their supply chains
Online fashion sales in the U.S. reached $103 billion in 2022
57% of Gen Z consumers bought second-hand clothes in 2022
The global resale market is projected to reach $350 billion by 2027
75% of fashion brands increased digital advertising spend in 2022
45% of fashion shoppers prefer brands with strong sustainability commitments
92 million tons of textile waste is generated globally each year
Mobile commerce accounts for 65% of online fashion sales
Amazon captures over 35% of the U.S. online fashion market
Consumer Behavior and Preferences
- 57% of Gen Z consumers bought second-hand clothes in 2022
- 70% of fashion returns result from fit issues
- 56% of consumers are more likely to buy from brands offering virtual try-ons
- 80% of fashion buyers consider price as the top factor in purchase decisions
- 62% of millennials prefer brands that promote inclusivity in their marketing
- Instagram is the top social platform influencing fashion purchases
- 88% of buyers check online reviews before purchasing fashion items
- 51% of global consumers prioritized comfort over style post-pandemic
- The average online apparel return rate is 25-40%
- Rent-the-Runway logged over 11 million active users in 2022
- 47% of fashion shoppers abandon carts due to high shipping costs
- Leading U.S. fashion retailers reduced inventory levels by 20% in 2022
- Shoppers are willing to pay 10% more for sustainable fashion
- 89% of fashion consumers consider data privacy when shopping online
- 80% of apparel shoppers engage in omnichannel purchasing
- 59% of fashion customers cite accurate product images as most important for online shopping
- 40% of shoppers are likely to abandon purchases if delivery exceeds 5 days
- 90% of consumers want better transparency from fashion brands
- 50% of fashion purchases are impulse buys
- Subscription box retention rates in fashion average 40% after 6 months
Interpretation
In a world where Gen Z thrifts, millennials demand inclusivity, nearly half of shoppers ditch their carts over shipping costs, and 90% crave brand transparency, the fashion industry’s future isn’t just about looking good—it’s about fitting right, feeling right, and acting right too.
E-commerce and Digital Trends
- E-commerce accounted for 23% of global fashion retail sales in 2022
- 75% of fashion brands increased digital advertising spend in 2022
- Mobile commerce accounts for 65% of online fashion sales
- Amazon captures over 35% of the U.S. online fashion market
- 73% of fashion retailers used personalization strategies in 2022
- 30% of global fashion sales are predicted to be online by 2026
- 42% of global consumers bought fashion using social media platforms in 2022
- Shein became the most downloaded shopping app worldwide in 2022
- 22% of online apparel sales occur through mobile apps
- 67% of fashion retailers use Instagram for customer engagement
- TikTok shopping influence increased fashion sales by 14% in 2022
- 35% of fashion consumers shop online weekly
- 91% of U.S. fashion retail companies had a D2C e-commerce presence in 2022
- Personalization can increase average order value by up to 20% in fashion retail
- Virtual fashion shows increased by 150% between 2020 and 2022
- The average fashion email campaign open rate is 20.5%
- 34% of online fashion purchases are made through influencer links
- Traffic from organic search contributes 38% to fashion e-commerce traffic
- Influencer marketing produced 11x higher ROI than banner ads for fashion brands in 2022
- Fashion industry relies on social ads for 27% of total digital ad spend
Interpretation
In a world where fashion meets fingertips, the runway has gone digital, influencers outsell ads, and your next outfit is just a scroll, swipe, or Shein download away.
Market Size and Growth
- The global fashion retail market was valued at approximately $1.5 trillion in 2022
- The fast fashion industry is expected to reach $133 billion by 2026
- Sustainable fashion is projected to grow at a CAGR of 9.1% from 2021 to 2030
- Online fashion sales in the U.S. reached $103 billion in 2022
- The global resale market is projected to reach $350 billion by 2027
- Asia-Pacific held 38% of the global apparel market share in 2022
- The luxury fashion market was worth $115 billion in 2022
- Global footwear market is valued at $387 billion in 2023
- UK fashion retail sales was worth £60.6 billion in 2022
- Fashion is the second-largest e-commerce sector globally
- Digital fashion sales hit $127 million in 2022
- Sales from fashion subscription services grew by 24% in 2022
- Nike led global apparel brand value ranking in 2023 at over $33 billion
- The kidswear segment was valued at $187 billion globally in 2022
- The global fashion accessories market is expected to hit $313 billion by 2027
- The men’s apparel market is projected to reach $553 billion by 2027
- U.S. online resale market is expected to reach $77 billion by 2025
- China will contribute nearly 30% of global fashion growth by 2025
- The athleisure market is forecast to exceed $800 billion by 2030
- The plus-size clothing market is projected to grow to $696 billion by 2027
- Leather alternatives market expected to reach $97 billion by 2025
Interpretation
Fashion may be fleeting, but with a $1.5 trillion global retail market spanning everything from digital sneakers to sustainable stitching, it's clear that style, scale, and shifting values are all sewn tightly into the industry's economic fabric.
Sustainability and Ethical Practices
- 45% of fashion shoppers prefer brands with strong sustainability commitments
- 92 million tons of textile waste is generated globally each year
- Fashion accounts for over 10% of global carbon emissions
- 78% of shoppers expect fashion brands to offer eco-friendly packaging
- Nearly 25% of fashion products listed online remain unsold
- 58% of global consumers want fashion brands to reduce water usage
- Recycled materials are used in 39% of new collections from leading fashion brands
- 30% of consumers check ethical certifications before purchasing fashion
- Only 12% of fashion materials are recycled back into the industry
Interpretation
As fashion hurtles down the runway of consumption, shoppers are waving green flags—demanding sustainability, scoping ethical labels, and criticizing carbon-heavy closets—while the industry still struggles to thread its needle toward a truly circular future.
Technology and Innovation
- In 2023, 60% of fashion retailers implemented AI tools in their supply chains
- 83% of fashion executives listed supply chain disruptions as a top concern in 2023
- AR technologies improved online fashion conversions by 40% in 2022
- In 2023, 62% of fashion retailers planned to increase investment in supply chain tech
- Digital product passports are adopted by 22% of fashion brands in 2023
- 68% of fashion executives plan to increase their tech budgets in 2024
- Fashion retailers save up to 25% in logistics costs through automation
- Fashion retailers investing in predictive analytics see a 17% increase in sales
Interpretation
In a high-stakes catwalk between disruption and innovation, fashion retailers in 2023 proved that the smartest way to stay in style was by suiting up with AI, AR, and automation—because in this industry, tech-savvy beats trend-savvy when it comes to staying ahead.
