Global clothing and footwear market is expected to grow at a faster rate during 2015-2020, fueled by growing demand from developing markets, mainly in Asia. In developed markets, such as the US, a change in consumer attitude to seek discounts will fuel demand for value clothing and private labels. Fast fashion will be another factor influencing sales as demand for latest runway designs at affordable price continue to rise among millennials across the globe. Online channel will benefit from these factors, offering lower price, wider product choices, cross-border shipping, and easy payment options. Growing fashion consciousness, rising disposable incomes, urbanization, and increasing access to internet, will underpin growth emerging markets, which are witnessing increased investment from specialist retailers.
Key Findings
Global clothing & footwear retail sales is forecast to surpass USD 1.9 trillion by 2020, with major impetus from developing markets
China will add USD 151.7 billion in sales during 2015-2020, which will lead it closer to the world’s largest market the US
Indonesia will make an entrance into the list of top 10 largest clothing and footwear markets in 2020, representing 2.9% share in global sales
Asian markets, Indonesia, Philippines and India, are set witness higher growth rates between 10-13% during 2015-2020
Specialist retailers will continue to be the largest channel for clothing and footwear sales, however discount stores and online are growing at a faster pace. Online will increase its share from 11.9% in 2015 to 20.2% in 2020
Considering the rising importance of online channel, retailers are adopting click-and-collect, virtual reality, contact less payments, and deploying chatbots, an interactive robotic technology, to engage with customers and offer them a swift, convenient, and personalized shopping experience
Synopsis
The “Global Clothing & Footwear Retailing, 2015-2020” report, published by Verdict Research, provides comprehensive analysis of global clothing and footwear retail sales across different channels. The report covers current and forecast retail sales data for the category in 50 countries. It also details consumer trends, competitive landscape and latest innovations occurred in the review period.
What else does this report offer?
Current market sizes and forecasts for 2020 by country with an assortment of charts that ranks countries based on market size, growth rate, value growth and channel sales
Market insights based on consumer trends, and changing economic and demographic factors on a global, regional, and country basis
Retail sales and fastest-growing markets for the category group and further sales breakdown for individual sub-categories: womenswear, menswear, childrenswear, women’s footwear, men’s footwear, children’s footwear
Qualitative and quantitative insights of changing clothing and footwear’s retail dynamics across various channels
Retail sales, market share and growth rate of channels included: clothing accessories and luxury goods specialists, department stores, online, hypermarkets, supermarkets and hard-discounters, discount stores, value, variety stores and general merchandise retailers, duty free retailers, and others
Key Topics Covered in the Report:
Global Clothing and Footwear Retail Market
Middle East Clothing and Footwear Retail Market
Africa Clothing and Footwear Market Trends
Europe Clothing and Footwear Retail Market Analysis
Global Clothing and Footwear Market Research Report
Global Clothing and Footwear Industry Research
Global Clothing and Footwear Market Size
Global Clothing and Footwear Market Growth
Global Clothing and Footwear Market Outlook
US Clothing and Footwear Market Revenue
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