Fashion E-commerce Strategies & Trends for 2023

Fashion Ecommerce is a rapidly changing landscape and brands must keep up with it to remain competitive. Some of the most important trends that fashion brands should incorporate into their long-term sales strategies in 2023 include the rise of the resale market, personalization, sustainability, and social commerce.

Resale Market, Sustainability & Social Commerce

The resale market is growing rapidly, with the resale market expected to reach $218 billion by 2026. Technology and online shopping are driving this trend, making it easier for consumers to shop for used clothing. Personalization involves showing customers products they have previously shown interest in or retargeting them based on their activity on a website. Retailers need to be careful not to over-personalize, as this can lead to customers abandoning their purchases. However, personalization remains a powerful factor in the end-market, and product recommendations on the website, email, and remarketing approaches are helping to increase sales.

Sustainability is a major trend that brands need to take into account. Customers are increasingly committed to eliminating climate change, and 52% of customers say they are more likely to buy from a company that shares their values.

Social commerce involves using social media platforms to sell products directly to customers and e-shops, and this trend will continue to grow, with Meta and TikTok introducing features that make it easier for retailers to sell products through their platforms.

But what about physical stores?

Let's look at some statistics about the return to physical stores and their relationship with e-commerce.

• 54% of consumers are more likely to look at a product online and then visit a physical store with the intention of purchasing it.
• 53% of consumers do the exact opposite. They window-shop in the store and buy it online.
• 55% of consumers search for products online and see what is available in physical stores.
• Over 50% of shoppers use the BOPIS system. BOPIS is an abbreviation for “Buy Online – Pick Up in Store”. In fact, 67% of those consumers who buy online and pick up in-store have been observed to add additional products to their “carts”

Brands that invest in brick-and-mortar retail can create a better shopping experience for customers and stay ahead of the competition by incorporating these trends into their overall sales growth strategy. In particular, Gymshark , after years of experimenting with pop-up stores, has opened its first store in central London! 53% of brands have been observed investing in tools that allow products to be sold from anywhere! Even during the pandemic, it has been observed that brands that held in-store events then held virtual shopping events via zoom!