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Topics under Clothing and Accessory Store

Global Clothing & Accessories Store Industry

The world apparel retail market witnessed almost 3.5% expansion in 2011 to exceed $1.2 trillion, reports MarketLine. The global clothing store industry analysis shows that the sector 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 specialty 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.

Market Segments

The infant, toddler and preschool clothing and footwear market benefits from constant demand as there is always a customer base with newborns to clothe. The market is, however, in a mature phase, with each year adding 4 million newborns, reports Packaged Facts. The industry, currently worth more than $18 billion is predicted to surpass the $23 billion mark in 2015. Demand continues to rise as consumer confidence grows. Prices are climbing due to the popularity of well-known fashion designers offering clothing lines for children online or through mass retail channels. Organic fabrics are also a factor involved in pushing up prices.

The world jewelry retailing industry lost ground in 2009, shrinking almost 1%, reports Verdict. However, as consumers are coming back to the habit of making discretionary purchases, the global jewelry retailing market is set to see demand climb, with the luxury segment forecast to record rising demand in particular. Asia-Pacific, apart from Japan, has outpaced the Americas to take the top regional spot in the jewelry and watch retailing market. Important market players are focusing their efforts on capturing a maximum of fast growth markets. Richemont, for example, makes a third of its profits through jewelry and watch sales in Asia Pacific, not including Japan. This figure has risen from only 20% over a five-year period.

Regional Market Share

The Asia-Pacific regional apparel retail market was worth almost $302 billion in 2011, having recorded yearly growth of 3% for the four preceding years, according to research from MarketLine. Womenswear represented the leading market segment in terms of value, generating almost $142 billion for more than 45% of the overall market. Growth is expected to slow to a yearly rate of 1% between 2011 and 2016, bringing the industry to just less than $317 billion in 2016.

The apparel retail industry in the EU represented a $412 billion industry in 2011, reports MarketLine. The EU apparel retail market recorded almost 1.5% growth yearly between 2007 and 2011. Womenswear generated the highest revenues to surpass $221 billion or almost 54% of overall market value. Growth is expected to accelerate to exceed a yearly rate of 2.5% for the five-year period ending 2016. The EU apparel retail is predicted to exceed $468 billion by the close of 2016.

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