The European online fashion, beauty and luxury market generated a turnover of 213 billion euros in 2023. The cross-border share of that market was 38 percent, representing 82 billion euros. The market is predicted to grow.
These data come from the third edition of the Top 500 Fashion, Beauty and Luxury Retail Europe from Cross-Border Commerce Europe. At Ecommerce News Europe, we now have written about this market before. In 2022, the web fashion and sweetness market achieved a turnover of 122 billion euros.
That looks like there was a rise of virtually 43 percent in turnover. Nevertheless, the researchers didn’t account for the luxurious market that yr. It was included in this yr’s data.
Market expected to grow 5% by 2025
The researchers expect the web fashion, beauty and luxury market to achieve 224 billion euros by 2024-2025. This may mean a rise of 5 percent. The strong growth on this market is supported by the presence of Chinese newcomers Shein and Temu, in addition to growing C2C marketplaces like Vinted.
European cross-border fashion, beauty and luxury is predicted to generate a turnover of €89 billion by 2025
The cross-border share of this market can also be expected to grow, to 39.6 percent by 2025. This signifies a turnover of 89 billion euros.
Marketplaces had the most important share
In 2023, the highest 500 retailers and marketplaces in fashion, beauty and luxury generated a GMV of 71 billion euros together. Marketplaces had the most important share (72 percent), with a GMV of 51 billion euros. At the identical time, C2C marketplaces contributed 12 billion euros. It is a share of 17 percent. They’re expected to grow to fifteen billion euros by 2025.
Total European market valued at 719 billion euros
In line with the info, the whole European fashion, beauty and luxury market is valued at 719 billion euros. At the very least 541 billion euros of that’s made up of fashion (including luxury), and 178 billion euros comes from the sweetness market (including luxury). The posh market alone is valued at 84 billion euros.
