Market on the Internet On its marketplace, Amazon is observing a definite trend of consumers purchasing more expensive apparel, watches, cosmetics, and footwear. This is a hint that consumers are moving away from value-focused purchases and toward more expensive ones, according to e-commerce companies.
On Amazon India, one of the biggest and fastest-growing categories is fashion and cosmetics.
According to some estimates, the online fashion and beauty sector is already worth over $11 billion and is expected to increase at a 35 percent CAGR through 2028. So this is a significant opportunity,” Srivastava said as the business unveiled its most recent research on fashion and cosmetics trends.
For new Amazon customers, Srivastava claims that fashion and beauty have been a major draw. Fashion and cosmetics are among Amazon’s biggest customer acquisition categories.
On Amazon, there has been a rise in demand for footwear and athletic apparel from around the world. It’s true that the most significant sector for online shops now is fashion, surpassing mobile phones. Although mobile phones dominated the category divide in FY19, fashion is now the single largest category, while grocery, home, and beauty and personal care are the quickest expanding, according to a May 2023 note from advisory firm Redseer. Fashion also happens to be the fastest-growing category overall.
According to Srivastava, the company’s fashion and beauty industry is now experiencing growth in Tier-2 and Tier-3 regions.
More than 50% of our clients currently originate from Tier 2 and Tier 3 locations. In these markets, accessibility to items is equally crucial, he continued.
