In recent years, the online fashion industry market in Saudi Arabia has experienced rapid growth, with more and more consumers opting to purchase fashion-related items through e-commerce platforms. This trend is expected to continue in the future, fueled by various factors. One of the primary drivers of the online fashion industry is the country's tech-savvy and young population, which has a significant interest in staying up-to-date with the latest fashion trends. Additionally, the high level of internet penetration in the country and the government's support for the e-commerce industry are expected to fuel further growth in the sector. The government launched the National E-commerce Strategy in 2021, which seeks to increase digital transactions in the country and facilitate the growth of the e-commerce industry. As a result, the online fashion industry presents substantial growth opportunities for local and international players, aided by the increasing popularity of online shopping and connectivity in the country. Approximately more than three-fourth of the Saudi Arabian population had internet access in previous year, which has enabled more consumers to shop online, including for fashion items.
The COVID-19 pandemic has had a significant effect on the online fashion industry market in Saudi Arabia, with many physical stores closed or operating at reduced capacity. This has caused consumers to shift towards e-commerce platforms to purchase fashion items, including clothing, footwear, accessories, and beauty products. One of the main impacts of the pandemic has been the acceleration of the trend towards online shopping, as consumers who were previously hesitant to shop online have discovered the convenience and accessibility of e-commerce. This shift in consumer behaviour is expected to continue even after the pandemic recedes.
Another effect of COVID-19 on the online fashion industry in Saudi Arabia has been a surge in demand for certain products. Due to the increased time spent at home, demand for casual wear, loungewear, and activewear has risen, while demand for formal wear has declined. E-commerce platforms have been able to quickly adapt to these changes in consumer preferences by offering a broad range of products.
However, the pandemic has also presented challenges for the online fashion industry in Saudi Arabia. Global supply chains have been disrupted, resulting in delays in product delivery and shortages of certain products. Moreover, the economic impact of the pandemic has led to some consumers reducing their fashion spending, which has had an impact on the revenues of some companies in the industry.
Overall, the impact of COVID-19 on the online fashion industry market in Saudi Arabia has been both positive and negative. Despite the challenges, the industry is expected to continue to grow in the future, driven by the country's young and tech-savvy population, as well as the growing popularity of online shopping.
Saudi Arabia Online Fashion Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Basicxx, Bershka, Elabelz, JollyChic, Marka VIP, Namshi General Trading LLC, NextDirect, Noon, Sivvi, Souq Group Pvt. Ltd., Ubuy, Wadi General Trrading LLC.
Saudi Arabia Online Fashion Market Segmentation:
By Apparel: Based on the Apparel, Saudi Arabia Online Fashion Industry Market is segmented as: Top, Dresses, Bottom, Jackets, Shirts, Shorts.
By Footwear: Based on the Footwear, Saudi Arabia Online Fashion Industry Market is segmented as: Sneakers, Flip-Flops, Sandals, Boots.
By Price: Based on the Price, Saudi Arabia Online Fashion Industry Market is segmented as: Economy, Mass, Premium, Elite.
By Region: This report also provide the data for key regional segments of Saudi Arabia; West, Centre, North, South, East.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.