Amazon is on its way to becoming America’s favorite clothing store
18 Oct 2017
Amazon is becoming the go-to place for Americans to buy clothing.
In a new survey by Alphawise, a research arm of Morgan Stanley, 69% of people said they bought clothing on Amazon over the last six months. That’s up 10% from a year ago, when 59% said they bought apparel from Amazon in the prior six-month period.
In more good news for Amazon, the company now has a 61% positive score, which means that surveyed consumers see the brand as being “really on the way up” or “somewhat on the way up.” That’s an increase of 14% for Amazon.
In second place is Target with a 28% positive score.
That means Amazon is on track to take up more of your wardrobe. Not only is Amazon acquiring more customers, but its customers are also buying more. In the survey, 42% of respondents said that they spent more on Amazon in the past year on clothing than they did the year prior.
The survey included a poll of 2,000 “nationally representative US teens and adults.”
Amazon has been ramping up its fashion efforts as of late, developing a slew of private brands. Its latest is a sportswear brand, which will reportedly be made by the same company that manufactures apparel for performance brands like Lululemon and Nike.
Amazon is expected to pass Macy’s as the US’ largest apparel seller this year, according to a Cowen & Co. note to investors from earlier this year. Its clothing and accessory sales are expected to grow nearly 30% next year, to $28 billion. Currently, Amazon claims only 6.6% of the apparel market, but that is expected to increase to 16.2% in the next five years.
Source: UK Business Insider