Press release
Clothing/Apparel Stores Market 2024 - By Share, Current Trends, Opportunities, Growth Size And Forecast To 2033
Clothing/Apparel Stores Market
The clothing/apparel stores market size is expected to see strong growth in the next few years. It will grow to $1282.94 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to sustainability practices, health and wellness apparel, economic recovery, rise of athleisure, inclusive sizing, globalization of fashion.. Major trends in the forecast period include subscription and rental services, customization and personalization, fast fashion challenges, direct-to-consumer (dtc) brands, innovative retail technologies..
Market Overview -
Clothing or apparel stores refer to clothing shopping ventures, establishments, or businesses that sell or deal in ready-made clothing, dresses, garments, attire, garments, clothes, and any item that can be worn on the body such as hats, clothes, or bags produced by the manufacturing company. Clothing/apparel stores provide opportunities for freelance fashion designers to showcase and merchandise their work.
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Rising Textile And Clothing Demand Fuels Robust Growth In The Clothing/Apparel Store Market
The increase in demand for textiles and clothing is expected to propel the growth of the clothing/apparel store market going forward. Textiles and clothing refer to any fabric or product, such as a fiber or yarn made by knitting, felting, or weaving, for a specific kind of clothing designed to shield the user against cold, heat, or water. Textiles and clothing are used for the manufacturing of new textiles or other production chains from raw materials such as summer or winter clothes, carpets, household textiles, non-woven textiles, and fabrics, where these products are displayed and sold by the clothing/apparel store to the customers using the online or offline mode of distribution. For instance, in November 2022, the Centre for the Promotion of Imports from developing countries (CBI), a Netherland-based federal agency for foreign affairs, the value of Europe's garment import industry increased to €144.5 billion ($157.70 billion) in 2021 that equals to increase of 13.1%. Therefore, the increase in demand for textiles and clothing is driving the growth of the clothing/apparel store market.
Competitive Landscape -
Major companies operating in the clothing/apparel stores market report are Christian Dior SE, Nike Inc., Adidas Group, LVMH Moët Hennessy Louis Vuitton, Industria de Diseño Textil S.A., Hennes & Mauritz AB, Phillips-Van Heusen Corporation, Fast Retailing Co Ltd, Gap Inc., Zara International, Platoon Stores Limited, Walmart Inc., Uniqlo Co Ltd., Penney OpCo LLC, Inditex, Bath & Body Works Inc., Vanity Fair Mills, Ralph Lauren Corp, Levi Strauss & Co., Under Armour Inc., Vanity Fair Mills, American Eagle Outfitters Inc., Abercrombie & Fitch Co., Columbia Sportswear Co., The Children's Place Inc., G-III Apparel Group Ltd., Guess Inc., Perry Ellis International Inc., The Buckle Inc., Chico's FAS Inc., Express Inc., Francesca's Holdings Corp., J. Crew Group Inc., Lands' End Inc., Lululemon Athletica Inc., The TJX Companies Inc., Urban Outfitters Inc., Zumiez Inc., Eddie Bauer LLC .
Innovations In Clothing/Apparel Stores Reshape The Shopping Experience
Product innovations is the key trend gaining popularity in the clothing/apparel store market. Major companies operating in the clothing/apparel store market are introducing innovative stores to strengthen their position in the market. For instance, in July 2021, ZARA International, a Spain-based clothing retailer, introduced an innovative Store Mode feature that helps link its physical locations and digital platforms through its e-commerce and in-app offerings. Zara's Store Mode reduces crowding in stores and needless trips by allowing customers to view the available inventory of goods from the closest store, which may be available for pickup within 30 minutes using wayfinding functionality. Once the item has been located, app users can utilize a QR code to reserve fitting rooms and bypass any waiting lineups. Additionally, the app also generates a special QR code that serves as a receipt and eliminates the need to print paper copies upon checkout.
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Key Segments -
The clothing/apparel 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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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