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Statistics $ Trends for the Ecommerce Fashion Industry

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Although for now, it seems like brick-and-mortar is still solid on the ground, e-commerce growth is rapidly moving at an unprecedented pace globally, and soon that ground won’t look stable. Most of those in fashion are buying more and more online, and the number approximated by the year 2022, is 911 million.

Fashion Trends and Technology

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Social Media & Everywhere Ecommerce

These two go hand in hand. The fashion market has depended mainly on social media, making it, it’s driving force. That’s why you will find most of the big brands advertising on Instagram and Facebook. Company brands find those influencers with a considerable number of followers, and then they partner with them.

It is only logical that celebrities take the lead when it comes to followers. Fashion influencers like Cardi B, Kylie Jenner, and others, have over 10 million followers, and that’s why the industries are finding it smart to partner in their e-commerce business.

Finding out where else people spend most of their time just before purchasing goods is crucial. There are online groups that also create and add all those that might have a common goal. Communicating through messengers can also work. Ecommerce SEO services can help you do a proper link building of your content within your website. From there, you can advertise your products across other channels.

Flash Sales

The fashion industry in e-commerce leads to flash sales. A consumer finds it sensitive, and they waited with bated breath, ready to grab the fantastic deals. They even mark it in their calendars during advertisements done before embarking on sale. The popular ones fall on Black Fridays.

Personalization

It is the ability to use consumers and data to customize the content and the web interface. According to research, 94% of companies think that personalization is critical and needs embracing today and in the future for the sake of successful online business. However, the number of consumers who prefer brands to message personalization is at 75%. While those influenced by its recommendation is said to be at 43%.

Mobile Optimization

There is an increasing number of online mobile users today. They prefer shopping online using their smartphones, which enhances easy navigation using fingers. When you optimize your site with mobile, you are helping your customers get quick responsiveness, reduce friction, offer excellent user experience, and boost your sales too. It also reduces friction. You can seek e-commerce SEO services to optimize your website.

How Artificial Intelligence is Impacting the Ecommerce

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Businesses that are both small and big have started to appreciate AI in their security verification and cash registers. It is slowly becoming un-resistible. Soon, it is likely to conquer e-commerce after a survey that was done by Tractica showed that; the e-commerce revenue would rise globally, at $ 36.8 billion by 2025. The companies can confidently sell their products 24/7, while AI gathers the data information to be accessible in real-time. It also helps to generate leads and offers exceptional user engagement.

When you are in a search mood, and you start navigating in your computer, you are most likely to go back and forth. Once you go back, your app reminds you where you last left and checks with you if you want to complete your search and purchase. That’s how AI has enhanced UX in e-commerce.

Voice Assistants

We are at an era where; we can use “voice” to get what we want through Google’s Alexa, which you can give voice command instead of manual searching for the products. If you use an iPhone, you will find Siri, which works the same way. In case you are multitasking, this can be an excellent way to finish your task promptly. It works as a tool for you to communicate with the e-commerce SEO services. Quoracreative stats show that 50% of the searches done on the internet by the year 2020, will probably be voice-based.

Automation

To keep up with the technologies and trends, most tedious work will be done by a machine, tasks like price tagging and packaging. It saves time and allows you to tend for other work. By using technology and algorithm the AI, informs the retailers what their customers are looking for. In essence, e-commerce benefits more and expands automation.

Filters Fake Reviews

With 88% of shoppers relying on reviews, some brand competitors have, however, faked to entice consumers into buying from them. It has been a challenge for online businesses. Ecommerce has started using AI to help customers get authentic reviews of the products. It has helped to eradicate the problem.

Cybersecurity

Yet another challenge that e-commerce encounters iscybersecurity. Ensuring security for your customer’s data is paramount. Deep learning to solve security issues and to integrate with AI, can help you get rid of criminals. Get in touch with an AI development company based in India.

B2B in Ecommerce

The B2B is also not left behind by B2C brands in e-commerce. They are leveraging the trends offered by e-commerce too. There is a projection of B2B having an increase in e-commerce sales of $ 6.6 trillion by the year 2020. According to a survey done by BigCommerce on 500 organizations, 80% of B2B took orders and processed payments through their websites. That shows its rapid rise.

How has Rising Globalization Impacted the Fashion Industry?

In essence, globalization can affect the fashion Industry through distribution, production, and marketing channels. This Industry has penetrated way beyond western where globalization is an abundance of fashion, which is sold by the big brands who make trade deals and coordinates the distribution of goods globally.

It is more than just clothing, but getting the top brands, athleticism, or simply disseminating a feel-good attitude. There is, however, much less visibility of globalization’s effect on production.

However, colonialism, African slave, and Intercontinental trades of coffee and sugar have made it possible for capitalism.

Like the internet, films, and magazines are quick to show the latest trends; they create a global style across the world. One fashion trend that is not going away anytime soon is blue jeans, which adorn everyone from Africa, Asia, and western.

Other Challenges That E-Commerce is Likely to Face Are; 

  •  Market Fragmentation

On the flip side, this challenge can be an opportunity, as well. If you are dealing with big fashion industry, gaining market share is something that can be acquired while you are well-positioned. While embracing the mobile tech, you will be surprised by the substantial number of retailers you are able to access. What valuable goods are you offering, and how consistent are you?

Nevertheless, the smaller companies may take advantage of the lower barriers of market entry, that is needed, and have their business grow dramatically. Each channel of communication needs to meet specific requirements; audience appeal is key, and economics needs attention. In essence, market fragmentation will be determined by consumer behavior and how they respond to your e-commerce industry.

  • High Return-rates

As much as the e-commerce sales skyrocket, the returns-rate also increases. At least 33% of sales return occurs in a third of products sold in e-commerce. That's a big challenge that can be costly. Imagine restocking, repackaging, and some of the products are sent to the producers and the distributors. The entire process is also time-consuming. In a year, the US alone returns sales amount to $550 billion. That is, according to Statista.

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Research done by Shopify shows that 41% of consumers purchase with the intent of returning the product. Based on the fact that they can't easily find the good elsewhere, they do it to try different variations. On the other side, 21% of returns are due to unmatched expectations. Which can be as a result of poor photo quality that may lead to; wrong color, texture, and fitting, and different real-life experience.

  • ·    Ability to Release New Fashion Trends Fast, As Per High Demand.

A secret to success in business is to keep ahead of others. Be proactive. Apart from a constant change in your products to give a fresh look, it is essential to know what is trending in the fashion industry. Remember, your customers are your king. Why are your competitors selling more than you? Could it be their new stock?

People will go online as their first place to access the latest trends. Will they find them in your e-commerce store? Fashion trends will continuously change, and it is an expected norm. Consumers will keep browsing until they discover what's trending. Don't lag. If not geared to offer the new season to your customer, be rest-assured to lose big in business. 

  • ·    Competition on Pricing  

With the majority of online stores selling an almost similar item, pricing becomes an issue. You will find varying prices due to companies' urge to increase market shares. However, this mostly affects the small- businesses who are struggling to keep up with the big companies. While the reality is, big companies can lower their prices, without getting affected.

Sometimes you have to keep the same pricing strategy or keep it relatively the same, especially when you are selling identical products with your competitors. Nevertheless, be careful while using this strategy that can obliterate your sales margin. Don't miss the opportunity to maximize the profitability of your online business.

In conclusion, having covered this article makes you conversant with the statistics and trends of fashion in e-commerce. However, using the e-commerce SEO services will help you build great content until the other websites, will die to link with yours.

NamanModiis a Professional Blogger, SEO Expert & Guest blogger at ebuilderz.com/, He is an Award Winning Freelancer & Web Entrepreneur helping new entrepreneur’s launches their first successful online business.

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