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Over 30% of beauty, fashion and luxury sales happen online today, often across European borders. Who are the biggest players? And what challenges and opportunities lie ahead?
Three growth engines
The entire fashion, beauty and luxury retail sector is worth 719 billion euros and is likely to grow by 2% by 2025. In the EU and the UK, the sector online alone accounted for 213 billion euros in sales by 2023, of which 82 billion would be cross-border. This market is expected to reach 224 billion euros in 2024-25, representing 5% growth.
Where will this growth come from? According to CBCommerce, from the strong presence of online ‘pureplayers’ in beauty and luxury (make-up webshops, for example), the ever-growing second-hand platforms such as Vinted and from Chinese newcomers Shein and Temu.