Currently, online fashion sales make up for 27% of the total volume, however, a Forrester study predicts that in a brief period of 4 years, 36% of all fashion retail sales will come from online sources. It’s not just that online industry is booming but it’s also eating up the share of brick and mortar stores.
While offline fashion stores may never go away totally, they will become a minority in the next decade as online fashion commerce continues to grow at a rapid pace. The study also observed that 6 out of 10 people who have access to the internet made an online purchase in 2019.
Fashion retail is also leading the way in terms of online sales as it makes up for 27% of the total sales as compared to the 15% of global retail sales. However, it should be kept in mind that the fashion industry as a whole is growing so online sales are benefitting from that upward trend as well.