Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 95 Billion | USD 1,200 Billion | 37% | 2023 |
The global online personal stylist services market size was evaluated at $95 billion in 2023 and is slated to hit $1,200 billion by the end of 2032 with a CAGR of nearly 37% between 2024 and 2032.
Online personal stylist services are gaining huge popularity along with providing cost-efficient services for improving personal style. Furthermore, there are various kinds of online personal stylist solutions, such as styling boxes, style questionnaires, virtual consultations, and personalized recommendations.
A surge in the popularity of online tools & demand for online retailing services to spearhead the global market surge by 2032
An increase in the acceptance of digital tools along with flourishing e-commerce activities will proliferate the size of the global online personal stylist services market. Furthermore, hectic lifestyles along with the need for personalization of services will spike the global market trends in the next couple of years. Rapidly changing scenario in the fashion sector along with its cost-efficiency is expected to trigger the growth of the market globally. Moreover, social media impact and economic aspects will further sketch a profitable landscape for the global market. Rapid expansion of subscription models and convenience of users are expected to propel the expansion of the market globally. Easy access to raw materials at affordable prices in countries such as Italy, Sweden, Norway, and Denmark can multiply the growth of the market globally.
Risk of data breaches and less personalization of services can retard the global industry growth over forecast period
Lack of technology access along with issues related to data privacy leaks can hinder the expansion of the global online personal stylist services industry. Moreover, less availability of customization alternatives is projected to hit the ascension of the global industry. Cut-throat competition from brick-and-mortar firms, with the latter offering personalized as well as seamless experiences to users, can obstruct the global industry ascent in the coming years.
An increase in corporate wellness programs & myriad offerings can boost the global market trends in coming years
Diverse service offerings along with a surge in strategic alliances with brands & retailers are anticipated to open new growth avenues for the global online personal stylist services market. In addition, the launch of corporate wellness projects is anticipated to pave the way for the expansion of the market globally.
Need for customer retention has posed a huge challenge for firms and is likely to severely impact global industry profitability
Acquisition of new customers due to customer churn along with a rise in the lack of innovation in the competitive markets can challenge the expansion of the global online personal stylist services industry. Technological challenges and non-optimum utilization of factor advantages such as a cost-efficient workforce & a rise in the purchasing capacity can pose a huge threat to the global industry expansion in the coming years. Lack of exploration of the untapped growth potential of various regions can dilute the growth of the industry globally.
The global online personal stylist services market is divided into service type, pricing, and region.
In terms of service type, the online personal stylist services market across the globe is segmented into styling boxes, subscription services, virtual consultations, and personalized shopping recommendations segments. Apparently, the styling boxes segment, which accumulated nearly 65% of the global market revenue in 2023, is anticipated to account for the fastest CAGR during the coming years as a result of the convenience of the products along with their ability to introduce new styles & products to customers.
Based on the pricing, the global online personal stylist services industry is segmented into premium, budget-friendly, and mid-range segments. Apparently, the mid-range segment, which led the global industry in 2023, is likely to contribute substantially towards the industry expansion globally in the upcoming years. This can be due to mid-range services offering easy access to the services, improved value proposition, and customer satisfaction.
Report Attributes | Report Details |
---|---|
Report Name | Online Personal Stylist Services Market |
Market Size in 2023 | USD 95 Billion |
Market Forecast in 2032 | USD 1,200 Billion |
Growth Rate | CAGR of 37% |
Number of Pages | 212 |
Key Companies Covered | Nordstrom Inc., Stitch Fix Inc., Style Yourself Chic, Next Level Wardrobe, Macy’s, Roxanne Carne, Style Doctors, The Wardrobe Consultant, and others. |
Segments Covered | By Service Type, By Pricing, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America is forecast to maintain leadership status in the global market over the assessment period
North America, which contributed about 37% of the global online personal stylist services market size in 2023, is expected to establish a number one position in the global market in the upcoming years. In addition, the regional market progression in the coming eight years can be attributed to a rise in the acceptance of online services in the fashion sector in North American countries, along with an increment in the launching of new digital tools promoting the demand for online services in the region. Apparently, the cost-effectiveness of online personal stylist services in countries such as the U.S. will increase the market profitability in the region.
The European online personal stylist services industry is slated to register the fastest CAGR annually in the next few years. The expansion of the industry in the continent can be subject to changing consumer preferences along with the swift economic growth of European countries. Moreover, government support and the presence of key service providers in the region will steer the industry expansion in Europe.
The global online personal stylist services market profiles key players such as:
By Service Type
By Pricing
FrequentlyAsked Questions
Online personal stylist services are gaining popularity along with cost-efficient services for improving personal style.
The global online personal stylist services market's growth over the forecast period can be owing to technological challenges and the non-optimum utilization of factor advantages such as a cost-efficient workforce and a rise in purchasing capacity.
According to a study, the global online personal stylist services industry size was $95 billion in 2023 and is projected to reach $1,200 billion by the end of 2032.
The global online personal stylist services market is anticipated to record a CAGR of nearly 37% from 2024 to 2032.
The European online personal stylist services industry is set to register the fastest CAGR over the forecasting timeline owing to changing consumer preferences and the swift economic growth of European countries. Moreover, government support and the presence of key service providers in the region will steer the industry's expansion in Europe.
The global online personal stylist services market is led by players such as Nordstrom Inc., Stitch Fix Inc., Style Yourself Chic, Next Level Wardrobe, Macy’s, Roxanne Carne, Style Doctors, and The Wardrobe Consultant.
The global online personal stylist services market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.
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