Online Shoppers Are Starting to See Amazon as a Fashion Destination
As consumers look to buy clothing online, PYMNTS Intelligence research reveals that digital shoppers are increasingly turning to Amazon to meet their apparel needs.
By the Numbers
The PYMNTS Intelligence study “Whole Paycheck Report: New Consumer Spend Data Finds Amazon Way Ahead of Walmart” estimates each of the two retailers’ market shares in various categories based on years of earnings reports in conjunction with national data from the U.S. Census Bureau and Bureau of Economic Analysis.
According to supplemental research from the study, as of Q4 2023, for the first time, consumers bought more than half of the apparel the purchased online from Amazon. The online retail giant’s share of eCommerce consumer clothing spending rose to 51.5%, from 47.9% the previous quarter.
A Deeper Dive
Amazon’s success gaining share in the category is especially key, given how consumers prioritize clothing purchases even in times of economic distress. PYMNTS Intelligence’s “New Reality Check: The Paycheck-to-Paycheck Report: The Nonessential Spending Deep Dive Edition” finds that, among the 7 in 10 retail shoppers who buy “nice-to-have” items at least sometimes, clothing is the most common splurge.
Plus, higher-income consumers spend more of their paycheck on this retail category, according to the “Why One-Third of High Earners Live Paycheck to Paycheck” edition of the New Reality Check series. The study found that those who earn more than $200,000 a year spend the greatest portion of their personal income on clothing, accessories and personal care items — 8.5%, versus the population-wide 7.2%. Moreover, consumers who earn more than $100,000 a year were the likeliest to say that clothing and personal care had a high or very high impact on their budget in the last 12 months.
“We continue to have the broadest retail selection, with hundreds of millions of products available, tens of millions added last year alone, and several premium brands starting to list on Amazon (e.g. Coach, Victoria’s Secret, Pit Viper, Martha Stewart, Clinique, Lancôme, and Urban Decay),” Amazon CEO Andy Jassy told investors in his recent 2023 Letter to Shareholders.
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