Tuesday, June 25, 2024

Online fashion worth €122 billion in 2022

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The European online fashion and beauty market generated a turnover of 122 billion euros in 2022. And 45 billion euros of that turnover was cross-border. The market is projected to reach sales of 144 billion euros by 2026.

These data come from the second edition of “Top 250 Fashion & Beauty Retail Europe” from Cross-Border Commerce Europe. Last year, the market was still projected to grow 50 percent from 2022 to 2025, reaching a turnover of 175 billion euros by 2025.

The online fashion and beauty market is expected to grow 18% from 2022 to 2026.

The projected growth of 18 percent by 2026 is much lower, due to lower consumer spending caused by inflation and supply chain disruptions. Because of this, the fashion sector has stabilized in 2022. However, there is still a growing market for second-hand fashion. The paper expects that almost one-sixth of online fashion sales in 2026 will come from consumer-to-consumer resale platforms, like Vinted.

Total online retail worth €729 billion in 2022

The total online b2c retail market generated sales of 729 billion euros in Europe last year. Fashion and beauty made up 17 percent of that sum. Additionally, the online fashion and beauty market has a share of 25 percent within the overall market, which is worth 486 billion euros.

12% of all fashion trade came from C2C resale platforms.

Nearly half of all online fashion transactions were completed on marketplaces. Additionally, 12 percent of the online fashion trade was generated by C2C resale platforms. This market share is expected to grow over the next years.

Top 5 fashion and beauty sellers

Zalando emerged as the largest fashion marketplace, while Sephora is the biggest beauty marketplace. Shein, Vinted, StockX and Nike also reached the top 5 cross-border fashion sellers.

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