The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Covid-19 will drive the compound annual growth rate (CAGR) of e-commerce sales in Australia to 10.3 percent between 2020 and 2024, according to a new forecast from data and analytics company, GlobalData.
E-commerce payments in Australia grew by 13.9 percent in 2020 to reach A$52.2 billion ($36.7 billion), and are expected to reach A$77.1 billion ($54.2 billion) in 2024. H&M is one notable retailer to have noticed the trend, launching its online store in Australia in October 2020.
According to the Australian Bureau of Statistics, online sales in Australia registered a 55 percent rise in December 2020 compared to same period last year and Australia Post’s Online Shopping Report, published last month, revealed over 5.6 million Australian households shopped online in December 2020, a 21.3 percent growth compared to 2019′s monthly average.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.
This week’s round-up of global markets fashion business news also features Brazil’s JHSF, the Abu Dhabi Investment Authority and the impact of Taiwan’s earthquake on textile supply chains.
This week’s round-up of global markets fashion business news also features Dubai’s Majid Al Futtaim, a Polish fashion giant‘s Russia controversy and the bombing of a Malaysian retailer over blasphemous socks.