The latest figures on the top online shopping categories rank fashion as the most popular category of all internet purchases. Of the total ecommerce expenditure worldwide in 2020, consumers are forecast to spend $596.1 billion on fashion-related products.
That’s 25.8 percent of the expected ecommerce revenue worldwide in 2020, which stands at $2.3 billion. Simply put, one in every four dollars spent by consumers online this year is spent on fashion.
That represents a significant portion of global ecommerce sales and a 13 percent year-over-year increase in online fashion purchases. However, it’s a relatively slow growth rate compared to 2018 and 2019’s 21.9 percent and 19.6 percent respectively. Analysts say this is a result of the coronavirus, which has massively reduced consumer spending.
The second most popular online shopping category is toys, hobby, and DIY. More than $504 billion is expected to be spent on these products. Together with fashion-related products, expenditure in these two ecommerce categories is forecast to exceed $1.1 trillion in 2020.
Electronics and media is the third most popular online shopping category in 2020 and sales are expected at $481.8 billion. Even perishables are proving to be a popular product to sell online. $413.2 billion is forecast to be spent on food and personal care this year.
With expected revenues of $312.9 billion, the furniture and appliance category ranks fifth on the list of top shopping categories online.
Top Online Shopping Categories in the US
Focusing on the top ecommerce categories in the US, fashion also ranks first. US consumers are expected to spend $113.6 billion on fashion-related products this year, which makes up 30 percent of the total ecommerce revenue in the US in 2020.
As with the global figures, this is also one of the slowest growth rates for fashion-related sales. At 10.7 percent, the 2020 year-over-year growth rate is significantly slower than the 14.4 percent growth rate in 2018 and the 16.1 percent growth rate in 2019 respectively.
This is, however, expected to pick up in 2021. Total revenue from fashion-related products in the US next year is forecast at $131.4 billion, a 15.8 percent increase from 2020.
Unlike the rankings of top online shopping categories worldwide, electronics and media is the second most popular category among US online shoppers. Revenue from this category in 2020 is expected to reach $84.5 billion.