Online fashion worth 213 billion euros in 2023

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.

Market expected to grow 5% by 2025

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.

European cross-border fashion, beauty and luxury is expected to generate a turnover of €89 billion by 2025

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.

Marketplaces had the biggest share

In 2023, the top 500 retailers and marketplaces in fashion, beauty and luxury generated a GMV of 71 billion euros together. Marketplaces had the biggest share (72 percent), with a GMV of 51 billion euros. At the same time, C2C marketplaces contributed 12 billion euros. This is a share of 17 percent. They are expected to grow to 15 billion euros by 2025.

Total European market valued at 719 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.