According to the research report titled ‘Global Online Apparel Market: Analysis By Price Range (Low, Medium, Premium), Model Type, End User, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)‘, available with Market Study Report LLC, global online apparel market was valued at USD 558.7 billion in 2020 and is poised to register substantial growth over the projected duration.
 

As per the report findings, increasing digitalization, rising focus of clothing companies towards easing access and offering more flexibility to customers, and flourishing e-commerce are catalyzing global online apparel market growth. Moreover, technological advancements will continue to offer new opportunities in the upcoming years.
 

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Elaborating on the Covid-19 impact, increasing trend of online purchases during the pandemic has favored industry development. In fact, the penetration of online apparel retail has increased in most markets to 28% in 2020 from 19% in 2019, as cited by credible sources.
 

In terms of price range, global online apparel market is divided into premium, medium and low. Among these, the lattermost segment is likely to hold majority industry share owing to prevalence of a large consumer base in countries with low economy.
 

With respect to model type, the industry vertical is bifurcated into business-to-consumer and business-to-business. Though the business-to-business segment is anticipated to capture a huge market share, the availability of enticing offers and cheaper clothing are attracting customers to shift to business-to-consumer platform.
 

Elaborating on the geographical scope, key contributors to the industry growth are Americas (U.S., Canada, Mexico), Europe (Germany, U.K., Italy, France), and Asia Pacific (India, China, Japan).
 

The competitive landscape of worldwide online apparel business sphere is characterized by major brands opting for inorganic growth, such as acquisitions and mergers, to expand product portfolio and improve their positioning.
 

Citing an instance, Asos plc has acquired multiple top brands including HIIT, Topshop, Topman, and Miss Selfridge. Also, Boohoo Group plc acquired Debenhams for USD 75 million to increase portfolio of brands. Such strategic moves help businesses boost their profit margins in a comparatively shorter duration.
 

Asos plc, H&M, Nike, Inc., Zara SA, Next plc, Amazon.com, Inc., Boohoo Group plc, The Gap, Inc., Marks and Spencer Group plc, and Macy's, Inc. are the major players influencing the industry trends.