Online sales of apparel and accessories accounted for more than 25% of the category’s total retail sales in 2016, up from 23.5% in 2015, according to Internet Retailer estimates and U.S. Commerce Department figures.
Apparel and accessories retailers in the just-released 2017 Internet Retailer Top 500 grew web sales 14.0% last year. But some of the faster-growing apparel e-retailers have unique business models that enable them to differentiate themselves from e-retail giant Amazon.com Inc., No. 1 in the Top 500 rankings.
Apparel retailer Stitch Fix is one such example that has gained favor among investors and consumers for its unique take on selling clothing to women, and more recently, men.
Analysis of North America’s leading 500 online retailers. Includes over 100 charts, rankings by 2021 web sales, benchmarking data, growth analyses by category and merchant type, and an executive overview on the current state of ecommerce.
The merchant uses a combination of personal stylists and proprietary algorithms to hand-select five items to ship to consumers each month to try on in their homes. Shoppers keep and pay for what they like, and return the rest for free. Since its founding in 2011, Stitch Fix has raised nearly $47 million in equity financing in three separate funding rounds. In 2016, Stitch Fix brought in an Internet Retailer-estimated $300 million in web sales, up 50% year over year.
The fastest-growing apparel retailers in this year’s Top 500 rankings grew by an even higher percentage than Stitch Fix. Apparel and accessories is the largest merchandise category in the Top 500 with 148 retailers.
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