The Hottest Thing in E-Commerce Today? Men's Fashion

Posted by Techvibes NewsDesk

Fashion is the hottest slice of the e-commerce pie. That's no shock. The surprise is that men's fashion is growing decidedly faster than women's. 

Turns out, men love fashion. They just don't love the women's shopping experience, which is why they're less enamoured with malls and retail outlets.

And that's also exactly why men have flocked to online shopping.

“Men don’t hate fashion, they just hate shopping the way it’s designed for women,” Ben Lerer, founder of Thrillist, told Bloomberg. According to him, “the young generation of guys love to shop, they love to talk about the brands they like and they really care about how they look.”

Females still boast double the share of the online clothing market than males. But the boys are gaining fast. Men's online fashion is growing at a steady clip of 13% per year, according to NPD Group, well ahead of women's at 10%. That's more than 25% faster and the gap is expected to widen.

“It’s an area of e-commerce that companies are only just now starting to really figure out,” noted Joshua Goldman of Norwest Venture Partners to Bloomberg.

According to EMarketer, this online market for clothing and accessories is expected to grow 78% to $73 billion by 2016. That's faster than many other popular categories, including music and electronics.

One factor driving this men's fashion phenomenon is the fact that men are staying single longer, boosting the money they have to spend on themselves early in their careers. A typical shopper at Gilt Groupe, which added a men's section in 2008, is 35 years old, single, living in an urban coastal city, and making about $100,000, according to Keith George.

Canadian startups hitting it off in this space include Indochino (who is hiring) and Frank & Oak.

Company:
Indochino Apparel Inc.
Website:
http://www.indochino.com
Location:
Vancouver, British Columbia, Canada

Indochino is the leader in custom online menswear. We provide the modern gentleman with high quality menswear that fits your body perfectly. Our quick 10 minute measurement process can be done from the comfort of your own home; no tailor required. All of our products are hand tailored and delivered to any part of the world within 4 weeks. Indochino makes it easy and affordable for customers to get custom tailored... more

Company:
Frank & Oak
Website:
http://www.frankandoak.com
Location:
Montréal, Québec, Canada

Frank & Oak is a vertically integrated online menswear brand with premium clothing and a simple, personalized shopping experience. Every month, Frank & Oak designs, manufactures, and sells a limited feed of modern apparel and accessories. The brand acts as a lifestyle partner, offering style advice, personalized product suggestions, and an easy-to-use shopping platform, among other members-only benefits. Frank &... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more




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