Are you looking to add Virtual Fitting to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Virtual Fitting statistics of 2024.
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How much of an impact will Virtual Fitting have on your day-to-day? or the day-to-day of your business? Should you invest in Virtual Fitting? We will answer all your Virtual Fitting related questions here.
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On this page, you’ll learn about the following:
Best Virtual Fitting Statistics
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- The global virtual fitting room market size was valued at USD 2.73 billion in 2020 and is expected to expand at a compound annual growth rate of 25.2% from 2021 to 2028. [0]
- Component Insights The software segment accounted for the largest revenue share of over 45.0% in 2020 and is expected to maintain its lead in the market from 2021 to 2028. [0]
- Regional Insights The European market captured the largest revenue share of over 35.0% in 2020 and is expected to maintain its lead throughout the forecast period, owing to the presence of several notable fashion brands in the region. [0]
- The virtual fitting room market is expected to grow at a compound annual growth rate of 25.2% from 2021 to 2028 to reach USD 15.43 billion by 2028. [0]
- The apparel segment dominated the virtual fitting room market with a share of 39.84% in 2020. [0]
- Out of these, apparel segment held 34.8% in terms of the virtual fitting room market share in 2020 and is set to remain at the forefront throughout the forthcoming years. [1]
- With 13% CAGR, Network Security Market Size Worth USD 53.11 Billion in 2029 Pune, India, April 28, 2024 The global network security market size was valued at USD 20.30 billion in 2021 and reached. [1]
- Based on our analysis, the global market exhibited a lower growth of 17.3% in 2020 as compared to the average yearonyear growth during 2017. [2]
- The market is projected to grow from USD 3.50 billion in 2021 to USD 12.97 billion in 2028 at a CAGR of 20.6% in the 2021. [2]
- As per McKinsey’s report, The State of Fashion 2020, the U.S. has the largest fashion market with 80% of online and offline shoppers. [2]
- The market is projected to grow at a CAGR of 20.6%. [2]
- It’s predicted that the global virtual fitting room market will grow from $3 million in 2019 to $6.5 million by 2025. [3]
- The global virtual fitting room market size was $3,128.6 million in 2019, and it is expected to reach $19,250.4 million by 2030, witnessing a CAGR of 18.5% during the forecast period. [4]
Virtual Fitting Software Statistics
- Component Insights The software segment accounted for the largest revenue share of over 45.0% in 2020 and is expected to maintain its lead in the market from 2021 to 2028. [0]
Virtual Fitting Latest Statistics
- a Free Sample Copy Click on image to enlarge End use Insights The virtual store segment held the largest revenue share of over 50.0% in 2020 and is expected to register the fastest CAGR over the forecast period. [0]
- The apparel application segment accounted for the largest revenue share of close to 40.0% in 2020 and is projected to maintain its lead over the forecast period. [0]
- Shopify, for instance, mentioned that the integration of AR is estimated to exhibit a conversion rate of 94%. [1]
- It is projected to grow from USD 3.50 billion in 2021 to USD 12.97 billion in 2028 at a CAGR of 20.6% in 2021. [1]
- Forecast Period 2021 to 2028 Forecast Period 2021 to 2028 CAGR 20.6%. [1]
- Segments Apparel Segment Held 34.8% Share in 2020. [1]
- With 12.1% CAGR, Talent Management Software Market Size Worth USD 17.66 Billion in 2029 Pune, India, April 28, 2024. [1]
- For instance, as per eShoppers, it witnessed 70% apparels return owing to size issues. [2]
- As per the recent report of Shopify, solutions with interactive AR features are expected to showcase a conversion rate of 94%. [2]
- As per the 2019 report of Neilson Global, more than 50% of respondents were ready to use this technology for retail assistance. [2]
- As per the PushOn report, 82% of shoppers need to touch the product before purchasing it. [2]
- Similarly, the exact fitting of the product in the virtual trial might not be 100% accurate. [2]
- For instance, as per the Fits.me data, the conversion rate as compared to the traditional size chart improved by 62% in virtual fitting solutions. [2]
- Also, the company witnessed a 77% reduction in exchange or return of product owing to the wrong size issue. [2]
- According to the 2020 U.S. Retail Index report by IBM Corporation, the COVID 19 pandemic boosted digital shopping by five years. [2]
- As per the 2019 report of MuleSoft, 4% of U.K. consumers have experienced virtual and augmented technology in the fashion industry. [2]
- The global Virtual Fitting Room Market is expected to reach USD 10.75 Billion by 2026, exhibiting a CAGR of 22.0% during the forecast period. [5]
- For instance, according to customer service stats conducted in 2012, in online shopping, customers return more than 25% of purchased products, with approximately 70% being for the wrong size. [5]
- – Advanced Optics Industry CAGR of 9.62% Pune, India, April 20, 2024. [5]
- Real and Compound Chocolate Market to Hit USD 42.71 Billion by 2029 – Real and Compound Chocolate Industry Exhibit a CAGR of 5.67% from 202… [5]
- Clothing products saw a 43.5% decline in retail sales during the pandemicâthe most dramatic decline of all sectors. [6]
- Some 40% of shoppers would be willing to pay more for a product if they could experience it through augmented reality. [6]
- Another 71% would shop at a retailer more often if it offered AR technology. [6]
- Either option creates an omnichannel shopping experienceâwhich has been proven to nudge in store shoppers to spend 4% more and online shoppers 10% more. [6]
- Did you know that 97% of consumers have abandoned a shopping purchase because it wasnât convenient enough?. [6]
- If you needed any more convincing 34% of shoppers think virtual fitting rooms make online shopping more fun. [6]
- Itâs estimated that 30% of ecommerce returns happen because the size is too small. [6]
- Another 22% happen because the customer ordered the item in a size thatâs too big. [6]
- Yael Vizel, co founder of Zeekit, a retail technology company, says Zeekit has seen a 36% reduction in return rates since using virtual fitting rooms. [6]
- Some 82% of shoppers said they want to view and touch products before buying them online. [6]
- The vast majority (97%). [6]
- Ralph Lauren said its virtual mirrors have an engagement rate of 90%. [6]
- 2.28 Bn US$ and will increase to 10.75 Bn US$ in 2026, with a CAGR of 22% during forecast period. [7]
- (Get Up to 80% Discount on Limited Special Offer). [7]
- More than half of all women and men no longer feel safe trying on clothes in fitting rooms, at 65% and 54%, respectively. [3]
- As of 2017, 62% of shoppers preferred shopping in store because they are able to see, touch, feel and try out items. [3]
- Before making a purchase, 88% of shoppers research online, and 49% of consumers say smartphones have changed how they shop. [3]
- (Also know that 66% of consumers will not purchase from a site when they feel the content does not speak to their specific interests.). [3]
- According to my company’s internal research, retailers have seen over 23% uplift in their average order value with AI. [3]
- According to Zeekit, early data shows the service has helped reduce return rates for partners by 36%. [8]
- In 2018, 60% of respondents of PwC’s global consumer insight survey stated they had used virtual reality in some capacity. [8]
- A survey from Coresight Research found that 42.4% of consumers in the U.S. returned unwanted products from March 2020 to March 2021, and most of that was clothing. [9]
- Consumers returned roughly $428 billion in merchandise last year, or about 10.6% of total retail sales in the U.S., according to a study by the National Retail Federation. [9]
- Clothing made up about 12.2% of that, the NRF said, adding that for every $1 billion in sales, the average retailer incurs $106 million in merchandise returns. [9]
- A survey of 401 U.S. shoppers by Coresight Research found that 42.4% returned unwanted products from March 2020 to March 2021, with clothing ranked as the most returned product category, almost double the rate of electronics. [9]
- Of the top 10 causes that consumers who make returns cite as the reason for making them, âbought just to try onâ ranked No. 7, according to a separate survey compiled by Incisiv Newmine. [9]
- Sales of apparel and footwear online rose 27.2% to $121.5 billion in 2020, according to Coresight data âHigh levels of returns eat into profitability on a product,â Weinswig said. [9]
- Tanya Zrebiec, vice president of innovation and strategy at 1822 Denim, said that the business’s return rates have dropped by roughly 48% since it partnered with 3DLook, while average order values have risen roughly 23%. [9]
- Zeekit has said that its virtual fitting rooms cut return rates by 36%. [9]
- And Forecast Virtual Fitting Room Market was valued at USD 2.56 Billion in 2020 and is projected to reach USD 10.57 Billion by 2028, growing at a CAGR of 19.29% from 2021 to 2028. [10]
- Virtual Fitting Room Market was valued at USD 2.56 Billion in 2020 and is projected to reach USD 10.57 Billion by 2028, growing at a CAGR of 19.29% from 2021 to 2028. [10]
- âIn this world of 24/7 shopping itâs very easy for retailers to focus on business needs and get caught up in the excitement of implementing the latest technologies,â said Danielle Pinnington, Managing Director at Shoppercentric. [11]
- Despite this, our research says 45% of shoppers will âalways love going to the shops, no matter what new technologies are availableâ. [11]
- The virtual fitting room isnât new of course as last year Fits.me launched claiming that retailers that use their platform see an increase in sales of close to 60% with a reduction in returns of nearly a third. [11]
- Today CSR can be responsible for 40% of a companyâs reputation according to the latest report from the Reputation Institute. [11]
- With 23% of all time online now spent on social networks, itâs not surprising that these interactions have a profound impact on the CSR of a corporation. [11]
- Additionally, in the end of 2018, there were nearly 782.3 million smartphone users, which was 55.3% of the total population of China. [4]
- According to the estimates released by the United Nationâs trade and development body, UNCTAD, online sales registered $25.6 trillion revenue, globally, in 2018, which was an increase of about 8% from 2017. [4]
- Furthermore, according to the UNCTAD, the projected ecommerce sales revenue in 2018, which included businesstoconsumer and businessto business sales, was about 30% of the global gross domestic product that year. [4]
- According to the GSM Association, there were around 5.2 billion unique mobile subscribers by the end of 2019, accounting for nearly 67% of the global population. [4]
- This number is projected to reach 5.8 billion by 2025, constituting 70% of the global population. [4]
- Among all the global mobile connections in 2019, around 65% were smartphone connections, with this share expected to increase to around 80% by 2025. [4]
- $3,128.6 Million Forecast Period CAGR 18.5%. [4]
I know you want to use Virtual Fitting Software, thus we made this list of best Virtual Fitting Software. We also wrote about how to learn Virtual Fitting Software and how to install Virtual Fitting Software. Recently we wrote how to uninstall Virtual Fitting Software for newbie users. Donât forgot to check latest Virtual Fitting statistics of 2024.
Reference
- grandviewresearch – https://www.grandviewresearch.com/industry-analysis/virtual-fitting-room-market.
- globenewswire – https://www.globenewswire.com/news-release/2021/08/19/2283199/0/en/Virtual-Fitting-Room-Market-to-Reach-USD-12-97-Billion-in-2028-Rising-Usage-by-Levi-s-Burberry-Ralph-Lauren-Gucci-and-Louis-Vuitton-to-Aid-Growth-Fortune-Business-Insights.html.
- fortunebusinessinsights – https://www.fortunebusinessinsights.com/industry-reports/virtual-fitting-room-vfr-market-100322.
- forbes – https://www.forbes.com/sites/forbestechcouncil/2021/09/16/virtual-dressing-rooms-a-guide-for-fashion-retailers/.
- psmarketresearch – https://www.psmarketresearch.com/market-analysis/virtual-fitting-room-market.
- globenewswire – https://www.globenewswire.com/news-release/2020/01/24/1974845/0/en/Virtual-Fitting-Room-Market-to-Reach-USD-10-75-Billion-by-2026-Increasing-Popularity-of-E-Commerce-to-Bolster-Healthy-Growth-says-Fortune-Business-Insights.html.
- shopify – https://www.shopify.com/retail/virtual-fitting-rooms.
- newschannelnebraska – https://southeast.newschannelnebraska.com/story/45749006/virtual-fitting-room-market-business-strategy-industry-share-supply-demand-growth-statistics-growing-trends-top-manufactures-regional-forecast.
- businessinsider – https://www.businessinsider.com/retailers-like-macys-adidas-are-turning-to-virtual-fitting-rooms-2020-8.
- cnbc – https://www.cnbc.com/2021/07/06/retailers-try-to-solve-the-fitting-room-dilemma-as-online-sales-grow.html.
- verifiedmarketresearch – https://www.verifiedmarketresearch.com/product/virtual-fitting-room-market/.
- reutersevents – https://www.reutersevents.com/marketing/customer-experience/weeks-wednesday-update-including-tescos-virtual-fitting-room-value-social.
How Useful is Virtual Fitting
One of the key benefits of virtual fitting is the convenience it offers. Gone are the days when a trip to the mall was necessary to try on clothes before making a purchase. With just a few clicks, consumers can now virtually try on items in different sizes, colors, and styles, all without leaving their homes. This not only saves time but also eliminates the hassle of dealing with crowded stores and dressing rooms.
Virtual fitting also alleviates the need for physically trying on multiple sizes of the same item. With just a few taps on a screen, consumers can see how a garment fits in various sizes and choose the one that suits them best. This not only streamlines the shopping process but also reduces the likelihood of needing to return items due to sizing issues.
In addition to helping consumers find the right fit, virtual fitting technology can also aid in making more informed purchasing decisions. By trying on clothing virtually, consumers can get a better sense of how a garment will look on their body without the need to actually try it on. This can be particularly helpful for those who may have difficulty visualizing how a garment will fit or look based on traditional size charts and product images alone.
Furthermore, virtual fitting technology can be a valuable tool for retailers looking to improve the online shopping experience for their customers. By offering virtual fitting options, retailers can enhance customer satisfaction, reduce the rate of returns, and drive sales by providing a more personalized and convenient shopping experience. This can ultimately lead to increased customer loyalty and repeat business.
While virtual fitting technology has many benefits, it is not without its limitations. One of the main challenges of virtual fitting is the inability to physically feel and touch the garment. While virtual fitting can provide a sense of how a garment will fit and look, it cannot replicate the experience of trying on clothing in person. This can make it difficult for consumers to accurately gauge the quality and comfort of a garment before making a purchase.
Despite these limitations, virtual fitting technology has proven to be a valuable tool for both consumers and retailers. By offering a convenient, efficient, and personalized shopping experience, virtual fitting has the potential to revolutionize the way we shop for clothing and accessories. As technology continues to advance, it will be interesting to see how virtual fitting evolves and improves to provide even greater benefits to consumers and retailers alike.
In Conclusion
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