DID YOU KNOW ? The global fashion ecommerce industry
The global fashion ecommerce industry was expected to decline from $531.25 billion in 2019 to $485.62 billion in 2020. The negative compound annual growth rate (CAGR) of -8.59% is largely due to the coronavirus pandemic. However, the market is set to recover and hit $672.71 billion by 2023.
There are anywhere between 12 to 24 million online shops. There are currently over two billion global online shoppers. There are over 1.8 million online retail stores in the US.