Blog: Amazon's apparel might 'underestimated'
Michelle Russell | 10 January 2014
It will come as little surprise to many that consumers are increasingly choosing the convenience of online when shopping for clothes, browsing on their sofa and avoiding the stress of sale crowds.
But the names that spring to mind may include Abercrombie & Fitch, H&M and Gap. Not Amazon, a company well known for its core of books, DVDs and electronics.
However, Amazon is continuing to take share in apparel. According to a consumer tracking survey published by Cowen & Co, in December, 10% of the US population purchased apparel on Amazon, a 27% jump from the prior year period. The percentage that bought 'fashion' apparel was even higher, at 37%, for a total of 5% of the US population.
And the researchers see no sign of this abating.
"It is not a news flash that Amazon continues to gain market share from traditional retailers. Nonetheless, we think that investors may be underestimating the inroads that Amazon is making in apparel, including fashion apparel. Purchasing of apparel on Amazon, including fashion apparel, continues to grow dramatically."
With the e-commerce firm also making further inroads into the online grocery channel, it seems the might of Amazon is intent on making its mark in all of its categories.
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