by The Rise of Fashion Ecommerce in Asia
Asia has emerged as one of the fastest growing regions for Asia Fashion Ecommerce. With a large young population and rising internet penetration, more and more Asian consumers are shopping for fashion products online. The region saw tremendous growth in fashion ecommerce over the last 5 years and all projections indicate this growth shows no signs of slowing down. Let’s take a closer look at some key aspects of Asia’s flourishing fashion ecommerce landscape.
Mobile-First Shoppers Fuel Growth
Asia has become truly mobile-first with more people accessing the internet through smartphones than any other device. This has been a driving factor fueling Asia’s fashion ecommerce boom. Brands and retailers that offer optimized mobile experiences see the biggest gains in online sales. According to recent reports, over 70% of all online fashion shopping in Asia now occurs via mobile devices. Leading domestic players like Zalora and ASOS have built highly customized mobile sites and apps that enhance the shopping experience on small screens. International giants like Alibaba’s Taobao and Tmall have also invested heavily in mobile to capture this lucrative Asian market. The seamless integration of mobile payments further enhances convenience for on-the-go Asia shoppers. Overall, the rise of mobile commerce has made online fashion more accessible than ever in the region.
Domestic Players Lead Innovation
While international brands have an influential presence, domestic Asian fashion ecommerce companies currently dominate their home markets. Players like Zalora and The Iconic in Southeast Asia as well as Mogu and Meilishuo in China have built strong customer loyalty through their local expertise and localized product assortments. These homegrown companies also fuel innovation in the region. For example, Zalora pioneered integrated mobile shopping experiences and social features like livestreamed fashion shows. Meilishuo launched an innovative features like mini-programs within WeChat that make shopping effortless. Domestic players deeply understand diverse Asian markets and leverage local payment methods, languages and cultural preferences to best serve shoppers. Their success inspired the growth of e-commerce enabled independent boutiques across the region too. Overall, domestic champions will likely continue innovating and leading Asia’s fashion ecommerce evolution.
Social Commerce Rises in Popularity
Social media has become an indispensable shopping tool across Asia. Platforms like Facebook, Instagram, WeChat and others enable new forms of social commerce where people can browse and buy products promoted within their social networks. Livestreamed sales events or “live selling” are hugely popular on platforms like Kuaishou and Meipai in China generating millions in sales each session. Regional ecommerce giants are incorporating social features into their platforms too – Alibaba’s Taobao Live attracted over 1 billion viewers in 2018 alone. Such social shopping blurs the lines between entertainment and commerce providing an engaging experience. Major fashion brands are actively promoting new launches and collections through influencer marketing on social networks to reach younger Asian crowds. Social platforms create new pathways for discovery and impulse buys, enhancing the scope of Asia’s online fashion industry.
Logistics Advances Drive the “Try & Buy” Trend
Advanced fulfilment networks are another driver boosting Asia’s online fashion biz. Technologies like automated warehouses and optimized delivery routes help deliver products at lightning speeds across bustling Asian cities. This enabled new trends like “flash sales” of limited inventory and the highly engaging “try before you buy” model. Domestic logistics leaders like Cainiao in China and Ninja Van in Southeast Asia forged strategic alliances with online fashion players to achieve faster nationwide delivery. This attracts impulse shoppers by fulfilling orders within hours versus days. Last-mile delivery innovations like parcel lockers take it a step ahead. Now online shoppers eagerly trying clothes at home before confirming purchases has become the norm. Rapid logistics support also fuels Asia’s flourishing resell and rental fashion economies. Overall, logistics capabilities strengthen the region’s all-critical online-to-offline experience.
Sustainable Growth Ahead
All available projections indicate Asia’s online fashion market will continue growing exponentially in the coming years. Industry reports suggest the region’s fashion ecommerce gross merchandise value (GMV) may surpass $100 billion by 2023. New internet users and rising affluence will sustain demand. Domestic innovation and improved infrastructure will augment growth. Cross-border shopping will also fuel sales as Asian consumers discover global trends. Sustainable development also drives future opportunities – growing numbers seek ethically produced items. While facing competition globally, Asia’s early adoption of mobile and social tools provide a strategic advantage. If current momentum continues, Asia will undisputedly become the world’s largest fashion ecommerce marketplace in the foreseeable future.
In conclusion, fashion ecommerce in Asia has witnessed amazing expansion fueled by rising internet access, innovative platforms and optimized last-mile logistics. Homegrown champions deliver specialized experiences while global brands expand their reach within the region. Social commerce and the continued rise of mobile make online shopping for apparel more engaging and accessible than ever. Going forward, further technological evolution and growing per capita spending power will continue propelling Asia’s status as a dominant force in global online fashion retailing. Truly, the future of this industry looks brightly online within the dynamic Asian markets.
*Note:
1.Source: CoherentMI, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
