Global Men Apparel Market, Global Online Apparel Industry Analysis - Ken Research
by Ashish Kumar Market ResearcherLatest
technology, integration, innovation and personalization are the major factors
involved in the global fashion retail industry in the recent years. The year
2017 in the global apparel retail industry appears to be stable, but not a
magnificent year for the market. The maximum sales are primarily led by
direct-to-consumer channels and international growth. Studies suggest that the
apparel sector need to work harder than ever to remain a priority for the
consumers’ to spend on apparels. Globally, the younger consumers seek and spend
more on apparel services and gain more experience. In the coming years the
apparel retail market will witness innovation with new ideas in terms of
technology and experiments on the apparels. The apparel retail industry growth
will witness sales through online and offline shopping or at stores along with
consumers and stores using technology more intuitively. These improvements
attract what consumers wear, buy, shop and where to shop.
According
to the research report “Apparel
Retail Global Industry Guide 2016”,
with the increase in the competition among the online stores, some of the
online stores are likely to shut down. Few department stores continue to
struggle to survive by offering discounts, contemporary styles and fashion. The
major factor affecting the global apparel retail industry is the increasing
cost of the real estate space occupied for stocking or selling of the apparels.
The declining department store sales led to establishment of store known as
Bonobos store that showcase their products without any stocks and the customers
require to make their purchase online. Researchers say that these types of
showrooms can help solve the difficult problem of markdowns, and help retailers
limit in-store inventory.
Normally,
in a store the apparels are stocked according to size, colour and designs which
occupy more space in the inventory. Whereas, the latest Bonobos store do not
stock apparels but display more number of apparels with five styles in five
washes and with 44 sizes. The global apparel retail industry is experimenting
on various types of showrooms to evacuate the existing stores with very large
inventory and reopened smaller showroom in the same place. Majority of the
leading apparel companies in the world are looking forward to expand into their
own branded physical retail spaces in order to approach consumers directly.
Look for competitors are looking for pop-up shops and other flexible physical
channel activations to become more popular and brands are experimenting while
growing out their physical channels. Retailers are embracing artificial
intelligence for greater personalization. Leading retailers are taking
advantage of advancements in machine learning, deep analytics and AI for a more
targeted and personalized shopping experience.
The
changing fashion trend is the overall casualization of fashion that has
expressed itself as athleisure. The increased drive toward casualization across
all global apparel channels has led to the next generation of casualization
that will be pajamas as weekend wear. Pajamas are not a new concept in fashion
industry because majority of the college students worldwide have been wearing
it for years that will now go main stream. New developments and growth in
apparel industry is witnessing an explosion of sub-categories such as
athleisure highlights how retailers are evolving into lifestyle brands. Many
leading competitors launched active wear and athleisure lines collaborated with
celebrities. Customers wear relaxed clothing and majority of them are choosing
to shop at home which gives more personalized services such as tailored
subscription services. It was observed that the leading companies in apparel
retail industry are more focused on lifestyle than performance with lifestyle
brands becoming more active-oriented. Digital integration has led to big deals
across all apparel retail channels. The year 2017 is a year of the smart
stores. Internet of Things (IoT) technology is deployed in this sector at a
quicker pace that will affect systems and processes across the entire apparel
retail enterprise, particularly at the supply chain.
Retailers
are using technology to harvest data and are using it to develop solutions for
the most pressing pain points in shopping journey, including fitting room
problems, order fulfilment issues, tiresome checkout processes and others.
Automatic checkout through digital pay systems makes shopping experience more
fun for consumers. Innovative solutions in the retail supply chain include
digitally enhanced inventory transparency and searches for out-of-stock
replacements. Today’s world’s population is choosy about their mobile devices
for internet-based activities such as shopping, therefore, smart phones have
becomes the dominant platform. Majority of the apparel retailers are depending
on social media and the latest applications in virtual reality to promote their
apparels.
Global
apparel retail industry is dominated by the Asia Pacific, with a rapid growth
in the middle class, urbanization, stable economy, availability of trained manpower
at competitive cost, and local availability of most raw materials in India,
China, and Japan. The favourable demographics in the global apparel industry
are the increase in consumer spending limit, new shopping malls, and modern
lifestyles. These factors maintain the balance between price and quality which
is the biggest challenge for the industry. This trend will witness a positive
growth in the apparel retail industry in the coming years.
Key Topics Covered in the Report:
Global
Fashion Retail Industry Analysis
Global
Apparel Industry Research Report
Global
Women Apparel Market
Global
Men Apparel Market
Global
Kids Apparel Market
Global
Apparel Retail Industry Revenue Analysis
Global
Apparel Retail Industry Distribution Channels
Global
Apparel Industry Mergers and Acquisitions
Global
Apparel Sales Gross Margin Analysis
North
America Apparel Industry Analysis
Europe
Apparel Sales Market Trends
Asia
Pacific Apparel Industry Research
Global
Online Apparel Industry Analysis
Global
Apparel Industry Major Players Market Share
Global
Apparel Market Online Sales
Global
Sports Apparel Industry Research
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