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Global Clothing and Footwear Retailing, 2015-2020; Market Dynamics, Retail Trends, and Competitive Landscape

Global Clothing and Footwear Retailing, 2015-2020; Market Dynamics, Retail Trends, and Competitive Landscape

  • August 2016
  • 169 pages
  • ID: 4146205
  • Format: PDF
  • By GlobalData

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Global Clothing and Footwear Retailing, 2015-2020; Market Dynamics, Retail Trends, and Competitive Landscape

Summary
Emerging markets, such as India, Indonesia, and the Philippines, have a huge middle-income population which is becoming fashion conscious and seek branded clothes at affordable prices. This has resulted in astounding growth of online retail, fast fashion and value clothing & footwear. India is forecast to move up the order of the top 10 countries by sales, surpassing developed countries such as Germany, the UK, France, and Italy.

The advent of the internet has introduced international fashion trends to even the most remote locations, which is fuelling demand for the latest fashion across the globe. During 2015–2020, clothing and footwear sales will witness value growth of US$411.5 Billion, driven by rising per capita expenditure on clothing and footwear from the emerging middle-class cohort, young working professionals and expansion of the online channel.

As of 2015, clothing, footwear, accessories, and luxury goods specialists compromise the largest channel in the category at a share of 59.2% in global clothing and footwear sales. However, discount stores and online channels are growing rapidly and will increase their share in global clothing & footwear sales.

The US is the largest clothing & footwear market globally, with total sales of US$368.2 Billion in 2015. Low prices and high discounts offered by online and discount stores are attracting more customers in the US. Unfavorable economic conditions have altered consumer behavior and many now look for cheaper options. By 2020, China is set to close the gap with US$420.2 Billion in sales against US$420.9 Billion in sales in the US. Growth in the Chinese market will be underpinned by rising purchasing power of the Chinese middle-class population, growing fashion awareness, expansion of the retail network, and an increase in luxury spending. In the short-term, economic uncertainty and currency devaluation will affect consumer sentiment and spending on the clothing and footwear category in China.

Growth in global clothing and footwear market will mainly be driven by increasing demand from emerging markets, growth of value clothing and fast fashion, and continued robust sales from the online channel. Economic uncertainties in key markets will result in shoppers increasing their savings, driving sales for value retailers and discounters. On the contrary, clothing and footwear brands will increase their presence in high growth potential markets, such as India and Indonesia, with growing middle-income populations, young urban professionals and rising fashion awareness.

The report “Global Clothing and Footwear Retailing, 2015-2020; Market Dynamics, Retail Trends, and Competitive Landscape” provides comprehensive analysis of global clothing and footwear retail sales across different channels and also covers current and forecast retail sales data for the category in 50 countries.

In particular, it provides the following analysis -
- Provides detailed analysis of 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.
- Helps you to understand the retail sales and fastest-growing markets for the category group. Additionally, it provides sales breakdown for individual sub-categories: women’s wear, men’s wear, children’s wear, women’s footwear, men’s footwear, children’s footwear
- Provides qualitative and quantitative insights of changing clothing and footwear’s retail dynamics across various channels.
- Provides a comprehensive analysis about 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.

Companies mentioned in this report: H&M, New Look, C&A, Zara, Benetton, Next, P&C, Deichmann, Kik, TJ Maxx, Wal-Mart’s George, Marks & Spencer, Tesco’s F&F, Peacocks, Renner Riachuelo, Marisa, Suburbia, Milano, Azaléia, Forever 21, The Gap, TK Maxx, Marshalls, Inc., Benetton Group S.p.A., Target, H&M, Jet, Pep Stores, Mr Price, Ackermans, Foschini, Albasco, Truworths, Splash, Aldo, Bershka, Woolworths, UNIQLO, Myer, Belle International, Esprit Holdings, ABC Mart, Meters/bonwe, Target, New World Department Store China Limited.

Key Findings
- Global clothing and footwear retail sales is forecast to surpass US$1.9 trillion by 2020, with major impetus from developing markets
- China will add US$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 and Footwear Retailing, 2015-2020” report, published by GlobalData 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

Reasons To Buy
Get immediate access to -
- Get accurate and reliable retail sales data of 50 countries for 2015 and forecast for 2020 to identify the largest and fastest-growing market and to discover profitable markets for expansion/entry
- Explore an in-depth analysis of retail sales data by channels to spot important/emerging channels in clothing and footwear retail space and develop strategies for specific channels
- Gain access to retail sales data at sub-category level (womenswear, menswear, childrenswear, women’s footwear, men’s footwear, children’s footwear) across the region to target key markets for each sub-categories and to analyze their current and future growth prospects
- Learn from consumer insights and retail trends and define your strategies based on the need of consumers and retail landscape in the country
- Make regional/country level comparisons to effectively target new revenue streams and align your marketing strategies with the crucial trends influencing consumer behavior
- Track competitive landscape based on the information about store count and latest developments for key clothing and footwear retailers in different region

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