26.06.23

European fashion marketplaces - Summer Quiz

Written by The RI Team | Read Time: 5 mins

The sun is shining. That means shorts, sunglasses and sleeveless tops. That means fans, fedoras and flip-flops. That means bandanas, bikinis and bathing suits.

It also means it’s time for Rich Insight’s European fashion marketplaces Summer Quiz.

Based on our fashion-centric blog series over the past few months, test yourself on key fashion trends across sustainability, fashion sales, consumer demographics and online marketplaces (answers at the end).

Sustainability

1) Which of the following industries contributes the most to the world’s CO2 emissions: international flights, maritime shipping or global fashion?

2) Given deliveries account for 20-30% of pollution in cities, the need for greener deliveries is clear. But are customers more willing to wait longer or pay more for green deliveries?

3) Fast fashion is a leading contributor to landfill (92 million tonnes of garments end up in landfill each year), so customers are increasingly turning to second-hand clothing. In what year is the second-hand apparel market estimated to outstrip fast fashion sales?

Need some clues? Check out our blogs on optimising listings for sustainability and quick marketplace sustainability wins.

Fashion sales trends

4) True or false: fashion buyers in West and Central Europe prefer making purchases on their phone over their computer?

5) Cart abandonment for fashion retail is 84% (and a whopping 88% for luxury fashion retail). What are the two most common reasons for abandoning an online clothing purchase?

6) Social media is an essential tool for brands targeting younger shoppers (i.e. 88% of Gen Z shoppers have made a purchase after watching a TikTok Live video), but what specific type of social commerce marketing are major brands investing in this year?

A bit unsure? Check out our blogs on Europe’s booming fashion segments, minimising cart abandonment for fashion sales and key fashion buying habits in Europe.

Consumer demographics

7) Millennials and Gen Z are Europe’s leading fashion buyers and will account for 70% of global consumers by 2028, but how many of them are prepared to buy-second hand?

8) Demand for ‘affordable luxury’ - i.e. well-made, sustainable and distinct clothing lines - has increased recently, but which demographic is leading the charge?

9) In Europe, fashion purchases vary country-per-country and region-to-region. Which two countries have the highest per capita percentage of online fashion buyers?

Clueless? Check out our blogs on Millennial and Gen Z fashion buying habits and 5 bright spots of European fashion sales.

Fashion marketplaces trends

10) According to annual site visits (and discounting Amazon), six of the world’s 10 largest fashion brands are European-based online marketplaces. Can you name them?

11) ChatGPT has been all the rage this year. Which German-based fashion marketplace recently announced it was launching a ChatGPT-powered ‘shop’ assistant?

12) Which online marketplaces agency not only helps fashion brands optimise their marketplace listing and boost sales, but also makes killer summer quizzes?

Lost and confused? Check out our blogs on Europe’s biggest fashion marketplaces and fashion marketplaces’ digital trends.

Answers

Fashion. Yes, according to the UN, the fashion industry contributes 10% of the world’s CO2 emissions - more than air travel and shipping combined.
Pay more. According to DHL, 69% of European e-commerce shoppers would sometimes or always pay more for greener delivery compared to 58% who were willing to wait longer for a more eco delivery.
2029. The second-hand apparel market is expected to grow to $77bn by 2025 and outstrip fast fashion by 2029.
False. But only just, with 49% preferring mobile to 51% desktop (in the rest of Europe it's roughly 40:60).
Delivery charges and price competitiveness. According to the RetailX European Fashion Report 2023, 36% of consumers abandoned a cart due to high delivery costs or finding the product cheaper elsewhere.
Livestreaming. Be it a catwalk or product launch, 81% of retail brands say they plan some form of investment in livestreaming in 2023.
42%. Millennials and Gen Z are more likely to buy pre-used fashion (42%) than Gen X (32%) or Baby Boomers (16%).
Sub 42 years. Millennials and Gen Z are leading the luxury charge and together with Generation Alpha will represent 80 percent of luxury purchases by 2030.
Spain and France. Over 70% of Spanish and French consumers made a fashion purchase online in 2022.
According to RetailX, Asos receives the most traffic (224 million per year), followed by Vinted, Zalando, El Corte Inglés, Next and La Redoute.
Zalando. Zalando will launch a ChatGPT fashion assistant enabling customers to search for fashion items in their own words (i.e. smart summer dresses for BBQs and weddings).
Well, do you even need to ask? It’s Rich Insight, of course. 😉