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The biggest e-commerce market
- Fashion, the most popular of all
The latest figures on the top online shopping categories rank fashion as the most popular category of all internet purchases. Consumers spent $759.5 bilion worldwide of the total eCommerce expenditure on fashion-related products in 2021. That’s 27.9 percent of the expected eCommerce revenue worldwide in 2021, which stands at $2.7 trillion. Simply put, more than one in every four dollars spent by consumers online this year is spent on fashion.
- Metaverse Mindset
As consumers spend more time online and the hype around the metaverse continues to cascade into virtual goods, fashion leaders will unlock new ways of engaging with high-value, younger consumers. To capture untapped value streams, players should explore the potential of nonfungible tokens, gaming and virtual fashion — all of which offer fresh paths to creativity, community-building, and commerce.
*The State of Fashion 2022 Mckinsey
