European Online Fashion Status Report Released, Consumer Demand Changes Significantly

As one of the largest product categories in e-commerce, consumers of fashion products have supported the development of the e-commerce industry to a certain extent. However, due to the great influence of seasonality and environment, the fashion industry is also very vulnerable. What changes have taken place in the fashion industry during the epidemic? What are the latest consumer demands for fashion products?

Recently, AfterPay Insights analyzed shoppers in the Netherlands, Germany and Norway to come up with a report on the current state of online fashion . Through this report, we can see the impact of the new crown epidemic on the development of the fashion industry, as well as the needs and expectations of fashion shoppers for online shopping experience .

According to a report by AfterPay Insights , affected by the epidemic, more consumers choose to buy fashion products online . But the long-term trend is that the penetration rate of online fashion is increasing, while the purchase frequency is actually declining . The expanding customer base will become the key driving force for the stable growth of online fashion in the next few years.

In terms of shopping needs, consumers need more fashion products to choose from and have higher requirements for the convenience of online shopping. As fashion shoppers increasingly choose to shop online, flexible payment methods are also crucial to maintaining their shopping habits . The "buy now, pay later" (BNPL) solution has become a more popular payment method for many consumers .

Fashion shoppers in the Netherlands pay more attention to product diversity, the convenience of delivery services, and the flexibility of payment and returns. Among them, the demand for product diversity among Dutch consumers increased from 20% in March 2020 to 29 % in July 2021. In addition, fashion shoppers in the Netherlands are more willing to buy new brands than in 2020, which is also an excellent opportunity for Dutch merchants .

German fashion shoppers also attach importance to the above aspects, but compared with Dutch shoppers, German fashion shoppers are more inclined to look for products with the lowest prices . Therefore, sellers in the relevant German market must pay more attention to the cost-effectiveness of products when operating.

In Norway, online fashion shoppers also place a high premium on product value for money. In addition, shoppers have significantly higher requirements for flexibility in payment and return services.

Fashion shoppers are more satisfied with products than non-fashion shoppers. According to AfterPay Insights , 80 % of fashion shoppers are satisfied with the online stores they have purchased from in the past, compared to about 70% of non-fashion shoppers .

Meeting demand is an important factor in improving satisfaction. Sellers in the fashion industry should pay attention to improving product diversity, logistics efficiency, and flexibility in payment and return methods in their operations, so as to provide fashion consumers with more cost-effective products that meet their needs.

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