Fleeting Fashion Trends Dictate Growth in the World Apparel Market
World apparel market is largely influenced by factors, such as, globalization, ever changing consumer preferences, levels of disposable incomes, dynamic business practices, fashion trends, and technological developments in fabrics.
With the mid-market segment of the apparel industry susceptible to overall macro economic conditions prevailing in a country, the present slowdown in the US economy is expected to take a little steam off the market's growth.
But as the market recovers poise in the upcoming years, in terms of consumer purchasing power, confidence & discretionary spends, brand promotions and resurgence of consumer's inherent obsession for branded products, growth is forecasted gather momentum.
Modern consumers are increasingly becoming brand conscious and are opting for apparel with brand images or logos. With fashion emerging into a means of self-expression, there exists strong demand for unique apparel designs, which make a bold fashion statement. Demand is especially high for multi-functional garments which help meet both fashion and performance needs. The modern customer is identified as a person who elects to experiment with diverse looks and ideas. Men in the age group of 25-35, with higher disposable income spend on expensive shirts and suits.
Important factors considered while purchasing garments include price, brand, shape, color and fabric. With casual clothing gaining in acceptance even in the corporate world, sales of jeans, shorts, sweatshirts, dungarees, bomber jackets, jodhpurs, long shorts, cardigans, flamenco skirts, baggy jeans and smocks are on the upswing.
Fashion Apparel Markets & Garment Trends Worldwide
The 'Friday dressing' concept is driving sales in the casual wear market, particularly in the United States. This trend is contributing to the expanding sales of shirts and T-shirts in the men's apparel segment, often at the cost of business wear. In the men's apparel market, demand for comfort wear and casual wear is rising across the world. Moving away from the traditional jeans market, tailored apparel for men has found its way into the market, in the form of improved suits, shirts and ties. This trend is particularly prevalent among young male entrepreneurs, with higher levels of disposable incomes. Men's and boy's apparel segment is influenced by changing consumer attitudes and evolving lifestyles, as seen in the rising demand for specific wear for business, casual and weekend activities. Development of innovative sportswear, incorporating novel designs and fabrics, is also finding favor among male purchasers
Rapid changes in the fashion world have a significant impact on the women's apparel market. A major growth area for the segment is emerging from 'mature' (women over 35 years) category, with manufacturers offering products for specific requirements of this lucrative segment. Additionally, the special sized garment segment is also expected to drive sales in the overall market, especially in the United States where weight gain and obesity are rampant. As the American woman becomes bigger, the women's plus-size market is forecast to boot an upward turn. Manufacturers are also focusing on providing corporate casual apparel, owing to the expanding proportion of women in executive level positions across the world. While jeans find universal appeal irrespective of gender and age, demand for designer apparel is mostly confined to affluent consumer segments, and is susceptible to constant changes in consumer preferences and fashion trends
Children Fashion Apparel Trends
Children's apparel market is a lucrative segment of the apparel industry, with children playing a critical role in the selection of clothing. Strong brand awareness among children, particularly in case of back-to-school shopping, is a major growth booster for the industry. The advent of trendier, and competitively price designer wear is also fostering sales in the kid's apparel segment. Increased indulgence in outdoor activities is additionally fostering the market for activewear, and sportswear.
A recent trend witnessed in the apparel market is the rising number of companies outsourcing distribution and inventory functions to third parties, allowing them to concentrate on design and marketing. The drive to reduce production costs is additionally leading to migration of production bases to low-cost developing countries as an increasing number of apparel manufacturers and processors shift their production sites to China and other Asian countries.
Fashion - Apparel: A Global Outlook
The report titled "Apparel: A Global Outlook" provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings
The report offers a bird's eye view of latest trends and consumer-dictated themes lending growth traction to this effervescent, ever-changing industry. The report also recapitulates recent noteworthy mergers, acquisitions, and other strategic developments
Major markets discussed in the report include United States, Mexico, Japan, Germany, UK, China, and India, among others. The report also includes an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 1,109 companies worldwide