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Clothing And Clothing Accessories Stores Global Market Report 2024 - By Report, Share, Size, Forecast To 2033
Clothing And Clothing Accessories Stores
The Business Research Company offers in-depth market insights through Clothing And Clothing Accessories Stores Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The clothing and clothing accessories stores market size has grown strongly in recent years. It will grow from $1318.16 billion in 2023 to $1424.86 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to consumer spending patterns, economic conditions, demographic changes, globalization of fashion industry, marketing and branding.
The clothing and clothing accessories stores market size is expected to see strong growth in the next few years. It will grow to $1893.45 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to sustainability practices, influence of social media, rise of circular fashion, inclusive sizing, collaborations and limited editions, societal shifts in dress codes. Major trends in the forecast period include technology-driven in-store experiences, direct-to-consumer (dtc) models, contactless and seamless checkout, rental and subscription services, localized marketing strategies.
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Market Segmentation:
The clothing and clothing accessories stores market covered in this report is segmented -
1) By Type: Clothing/Apparel Stores, Jewelry And Watch Stores, Optical Goods Stores, Footwear Stores
2) By Type of Store: Exclusive Showroom, Dealer Store
3) By Ownership: Retail Chain, Independent Retailer
4) By End-User: Men, Women, Kids or Infants
Major Driver - Embracing Data Analytics In Retailing Is A Catalyst For Growth And Customer Loyalty
Many clothing and accessories stores are adopting a robust and cohesive strategy for data analytics in management. This technology is being deployed to enhance supply chain efficiency, streamline operations to engage customers, and build loyalty. Data has become critical for most retail operations. For instance, in July 2023, according to the World Economic Forum, a Switzerland-based non-governmental organization (NGO), 60% of corporations think that big data and analytics capabilities are becoming more crucial and this technology is most likely to result in the creation of new jobs over the next 5 years. Additionally, between 2023 and 2027, data science and data analytics may create up to 1.4 million new jobs . With the rapid growth in retail data and the availability of technologies to analyze data, it would become easier for building materials and garden equipment and supplies dealers to identify and meet the needs and expectations of their customers, which is expected to drive the market going forward.
Competitive Landscape:
Major companies operating in the clothing and clothing accessories stores market report are American Apparel Inc., LVMH Moet Hennessy Louis Vuitton SE, TJX Companies Inc., Rajesh Exports Limited, Zara, Industria De Diseno Textil SA, H & M Hennes & Mauritz AB, Hennes & Mauritz AB, Associated British Foods plc, Ross Stores Inc., Fast Retailing Co. Ltd., Gap Inc., The Gap Inc., Nordstrom Inc., PVH Corp., Foot Locker Inc., L Brands Inc., Levi Strauss & Co., Victoria's Secret & Co., Tapestry Inc., Ralph Lauren Corporation, Under Armour lnc., Capri Holdings Limited, ASOS plc, American Eagle Exclusive Store, Urban Outfitters lnc., Abercrombie & Fitch Trading Co., The Columbia Sportswear Company, Guess lnc., The Children's Place lnc., Chico's FAS Inc., The Buckle Inc., Express.js
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Top Trend - Enhancing Retail Efficiency And Customer Experience Through In-Store Automation
Retail stores are increasingly using in-store automation to streamline retail shopping. Automation in retail stores is aimed at cutting costs and time involved in store operations such as container movement, merchandise scanning, inventory checking, retrieving, packaging, delivering products, and connecting with customers. Automation reduces waiting times, avoids stocking problems, enhances productivity, and improves the overall customer experience. Retailers are also focusing on using self-checkout stands for customers. Some of the major clothing retailers, such as Zara and Lifestyle, are using self-checkout systems. In June 2022, MishiPay self-checkout kiosk was launched to store 100% of store transactions all by the customers.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Clothing And Clothing Accessories Stores Market Characteristics
3. Clothing And Clothing Accessories Stores Market Trends And Strategies
4. Clothing And Clothing Accessories Stores Market - Macro Economic Scenario
5. Clothing And Clothing Accessories Stores Market Size And Growth
…..
27. Clothing And Clothing Accessories Stores Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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