The fashion industry in Europe, the Middle East, and Africa (EMEA) is experiencing a digital boom, reveals BigCommerce's ‘2024 Global E-commerce Report: Fashion and Apparel’. The report, based on customer data, paints a picture of a thriving online market with significant growth potential.
The report highlights a thriving global fashion e-commerce landscape. Gross Merchandise Value (GMV) has increased 10.7 per cent year-over-year, driven by a 7.2 per cent rise in order volume. The average order value (AOV) has also seen a healthy increase of 3.23 per cent. However, in the EMEA region, the figures are even more impressive
EMEA leads the charge
EMEA is experiencing a staggering 25.3 per cent growth in GMV compared to the same period last year. This surge is fueled by a remarkable 41.3 per cent increase in total orders. Interestingly, the average order value in EMEA has dipped slightly by 11.1 per cent. This could be attributed to factors like increased promotional activity or a shift towards more frequent, smaller purchases.
Experts believe several factors are contributing to EMEA's e-commerce fashion boom. Increased mobile penetration, improved internet infrastructure, and a growing appetite for online shopping are all playing a role. Additionally, the region boasts a diverse population with a wide range of fashion preferences, which online retailers are well-positioned to cater to.
Why the EMEA boom?
While the report doesn't delve into specific reasons for the EMEA growth, experts suggest a combination of factors could be at play:
Increased smartphone penetration: EMEA consumers are increasingly comfortable shopping online using their mobile devices.
Growing internet access: Improved internet infrastructure in many developing countries within the region is facilitating online shopping.
Shifting consumer preferences: A growing number of EMEA consumers are embracing the convenience and variety offered by online retailers.
The EMEA region is a hotbed for fashion e-commerce growth,say analysts. The report highlights the tremendous potential for brands to reach new customers and expand their reach through online channels.
BigCommerce's report underscores the immense potential of the EMEA fashion e-commerce market. With a strong foundation of growth already established, the future looks bright for brands that can capitalize on this digital wave. By offering a seamless online shopping experience, catering to local preferences, and embracing innovative technologies, fashion businesses in the EMEA region can solidify their place in this burgeoning market.
