Clothing and footwear stay stylish all year round
The online clothing and footwear industry remains resilient, thriving throughout 2023.
In the past year, the industry has exhibited positive growth despite the challenges faced by e-commerce overall. While actual sales of clothes and shoes have decreased compared to last year, the industry's growth is primarily driven by price increases, resulting in an annual growth rate of 3 percent.
The winter's cold and widespread snowfall in 2023 spurred the need for updating shoe wardrobes, providing a much-needed boost to the shoe trade overall. In the last quarter of the year, the shoe trade demonstrated positive growth figures, outpacing the general trend in the clothing trade. Additionally, a notable trend throughout the year has been the rising interest in the phygital realm—a fusion of physical and digital experiences. This trend blurs the lines between digital and physical presence, with more businesses expanding into new channels. For instance, Arkivet, a second-hand retailer established in 2017 with solely physical stores, made a transition to online presence, reflecting the growing popularity of the second-hand market observed throughout the year.
The challenging economic conditions have led consumers to actively seek affordable options. Second-hand items, the Chinese low-price giant Temu, and dupes have emerged as popular low-cost alternatives that consumers have increasingly relied on over the past year.
Source e-barometer 2023
