According to the Ecommerce News, the European online fashion, beauty and luxury market generated a turnover of 213 billion euros in 2023. The cross-border share of that market was 38 percent, representing 82 billion euros. The market is expected to grow.
These data come from the third edition of the Top 500 Fashion, Beauty and Luxury Retail Europe from Cross-Border Commerce Europe. At Ecommerce News Europe, we have written about this market before. In 2022, the online fashion and beauty market achieved a turnover of 122 billion euros.
That seems like there was an increase of almost 43 percent in turnover. However, the researchers did not account for the luxury market that year. It was included in this year’s data.
The researchers expect the online fashion, beauty and luxury market to reach 224 billion euros by 2024-2025. This would mean an increase of 5 percent. The strong growth in this market is supported by the presence of Chinese newcomers Shein and Temu, as well as growing C2C marketplaces like Vinted.
The cross-border share of this market is also expected to grow, to 39.6 percent by 2025. This signifies a turnover of 89 billion euros.
According to the data, the total European fashion, beauty and luxury market is valued at 719 billion euros. At least 541 billion euros of that is made up of fashion (including luxury), and 178 billion euros comes from the beauty market (including luxury). The luxury market alone is valued at 84 billion euros.
