Global Clothing & Accessories Stores Industry
The world apparel retail market witnessed almost 3.5% expansion in 2011 to exceed $1.2 trillion, reports MarketLine. The global apparel retail industry is expected to grow to almost $1.35 trillion by 2016, representing nearly 15% growth in five years. Womenswear represents the leading segment in the global apparel retail market, equivalent to more than 51% of the overall market in terms of value. Americas represent just over 25% of the industry, which encompasses the retail sale of clothing for women, men and children.
The clothing store industry is contained within the retail sector, and apart from selling womenswear, menswear and childrenswear, it also involves the sale of clothing accessories including ties, belts, socks and scarves. The majority of large retailers are located in independent outlets, franchised stores and clothing specialty stores. Retailers engage in direct marketing, availing of popular brands to promote their goods. Other marketing channels include broadcasts via television and fashion promotion supplements in the press.