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7 Transformative Fashion Ecommerce Trends for 2024

Fashion trends

The fashion e-commerce industry made up a huge 21% of the entire e-commerce market in 2023 and is expected to grow even more. Driven by globalization, fast innovation, and changing consumer habits influenced by events like COVID-19, this sector is changing significantly.


Fashion e-commerce retailers and new businesses must keep up by carefully designing their products, business models, and marketing strategies to match the industry's direction.

Looking ahead to 2024, several trends are set to change the fashion e-commerce scene.


These include sustainability, resale, AI-driven personalization, social commerce, blending online and physical stores, exploring the metaverse, and the rising popularity of buy now, pay later options. These trends will transform how we shop, interact with, and experience fashion.


Focusing on Sustainable Fashion

Sustainable Fashion

In recent years, more people are focusing on sustainable ways of living, including in fashion. This trend is strong, especially among millennials and Gen Z. According to thredUP's yearly study, a significant 61% of these younger groups consider themselves eco-conscious, compared to 51% overall.


If your customers include these environmentally aware groups, making your products and business practices eco-friendly could be crucial for standing out. This might mean using sustainable materials and supporting recycling efforts. Aligning your brand with these values could set you apart from others in a smart way.


The Resale Revolution Gains Momentum

As more people embrace sustainability, there's a growing preference for buying secondhand clothes instead of new ones. This helps reduce waste and lessens the demand for manufacturing processes that can harm the environment and society.


Statistics

The online clothing resale market is projected to reach a staggering $38 billion by 2027, nearly doubling from 2023. Remarkably, this segment is expected to grow at nearly twice the pace of its parent secondhand clothing market, which encompasses online and offline resale, thrift, and donation channels.


Gen Z shoppers, in particular, are driving this shift, often searching for items secondhand before considering new purchases. Moreover, they are increasingly factoring in the resale value of clothing when making purchase decisions, further cementing their role as active participants in the secondhand life cycle.


AI-Powered Personalization:

Ai personlization

Personalization is key to great shopping experiences, and artificial intelligence (AI) is changing how it's done. AI uses a lot of data to help brands customize experiences while also respecting consumer privacy.


AI powers things like personalized pricing, tailored marketing, and recommendations for products that fit your tastes. It's making fashion shopping easier and more personalized. As AI improves, it will be essential for online fashion stores to create smooth, personalized experiences that customers love.


Social Commerce:

Social commerce

With consumers spending an average of 2.5 hours per day on social media, a figure that continues to climb, savvy fashion brands are capitalizing on this opportunity to drive sales. According to Statista, the US social commerce market hit a staggering $992 billion in 2022 and is projected to reach a whopping $2.9 trillion by 2026.


Online retailers are employing a multitude of strategies to tap into this lucrative market, including:


  • Product videos showcasing and highlighting specific items, with direct purchase links or in-app buying capabilities.


  • Influencer marketing partnerships, leveraging the reach and influence of familiar faces to promote products and drive sales, often through affiliate marketing programs.


  • Multichannel and omnichannel ecommerce strategies that seamlessly integrate offline buying paths with social media platforms.


  • Leveraging native selling tools within social media platforms, such as Facebook Shops, Pinterest buyable pins, and Shopping on Instagram.


As social media continues to permeate our daily lives, fashion ecommerce brands that effectively harness this channel will gain a significant competitive advantage.



Brick-and-Mortar Embraces the Online World

As the world emerges from the pandemic-induced era of quarantines and social distancing, brick-and-mortar stores are regaining their momentum. This presents a wealth of opportunities, as well as potential challenges, for online retailers with physical storefronts: how can they optimize the omnichannel landscape, seamlessly integrating web, app, and in-store experiences?


Brick motar

Fashion ecommerce retailers are getting increasingly creative in addressing this challenge. Take, for instance, the natural shoe brand Allbirds. Starting as an exclusively online retailer, its success paved the way for the opening of select brick-and-mortar stores.


Initially, when a customer desired an item not available in-store, associates had to email them a link to complete the purchase at home. However, Allbirds has since adopted a "buy in-store, ship to consumer" model, allowing for higher conversion rates and a more streamlined shopping experience.


As Travis Boyce, Head of Global Retail Operations at Allbirds, aptly puts it, "[Buy in-store, ship to consumer] allows for a much higher conversion than if we tell them to go back to their home and order it when they get back."


The Metaverse: Exploring Fashion in a Virtual World

Metaverse

The metaverse, a virtual landscape where augmented reality (AR) and virtual reality (VR) technologies converge, is revolutionizing the way we interact with clothing and accessories. Fashion brands are swiftly adapting to the potential of this new environment, recognizing its ability to transform the online shopping experience from a mere transaction into a fully immersive and engaging activity.


Forever 21, for instance, partnered with virtual game creator Roblox to create Forever 21 Shop City, a unique virtual world within the metaverse. In this digital realm, customers can manage their own fashion stores, style avatars with Forever 21's latest collections, and engage with the brand in unprecedented ways.


According to Katrina Glusac, Forever 21's chief merchandising officer, the goal is to "expand how the brand engages with customers, extending its presence and product in new ways." As the metaverse continues to evolve, it promises to reshape the fashion ecommerce landscape, offering unparalleled opportunities for brands to connect with consumers through innovative, interactive experiences.


The Attraction of Buy Now, Pay Later

Payment plans like buy now, pay later (BNPL) are making a big impact in online fashion shopping. Fashion lovers who want to stay trendy without overspending are choosing this option. It lets them buy the latest styles now and pay in installments over time.


Fashion ecommerce brands are teaming up with popular BNPL services such as Klarna, Affirm, and Afterpay. This lets shoppers split their payments into smaller, manageable amounts. It makes it easier for people to afford the items they want, turning browsing into buying without the immediate financial strain.


The popularity of BNPL is growing fast. In the US, BNPL transactions for fashion are expected to exceed $90 billion by 2023 and could top $100 billion by 2024. Looking ahead to 2024, BNPL is set to become a regular part of online fashion shopping, helping shoppers enjoy their fashion choices while staying financially smart.


Staying Ahead of the Curve

In the fast-changing world of online fashion, staying ahead is crucial because trends come and go quickly. The insights we've discussed about 2024 show just a small part of what's happening. To do well in this dynamic environment, fashion retailers need to be alert and adapt to new trends and what customers like. Brands that innovate, promote sustainability, and offer great personalized experiences will lead the way and keep fashion lovers happy for a long time.


Futuristic Platform You Can Consider Selling in 2024

Tezda is an innovative social commerce platform that offers futuristic features like shoppable videos, where users can directly shop from the video without being redirected to an external website. Additionally, with instant messaging, users can directly get in touch with the seller and have their queries answered right there, increasing conversions like never before.


Don't worry: you are equipped with the latest technology tools and features to stay ahead in the competitive market. With social commerce, you can create videos on the platform and take advantage of social hubs by combining ecommerce and social media. Tezda takes this to another level, providing users with a centralized marketplace for all their needs, including chats, feeds, entertainment, and shopping.


But that's not all! With Tezda, users can look forward to upcoming futuristic features like 3D, AR, and VR shopping and more. The platform ensures that users have a great experience, which is the ultimate goal of Tezda. When the user experience is good, you as a seller can expect more conversions like never before.


If you want to be a part of this revolution, you need to get started by signing up for Tezda's beta program right now. It's completely free for beta users to get started and start selling!


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