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Leveraging AI for Enhanced Customer Experience and Inventory Management in Fashion Retail Trend: A Crucial Influence on the Fashion Retailing Market's Transformation in 2025
Fashion Retailing Market Share
The rapid growth of the working population is expected to drive the fashion retailing market. This growth is due to demographic shifts, urbanization, economic development, and a rise in the female workforce. Fashion retail provides convenient access to professional and stylish clothing, enhancing confidence in the workplace. According to the UK Office for National Statistics, the number of workforce jobs in the UK increased by 431,000 in March 2024, reaching 37.2 million, contributing to the fashion retailing market's growth.
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What Is the projected market size and growth rate for the fashion retailing market?
The fashion retailing market has grown strongly in recent years. It will grow from $92.58 billion in 2024 to $99.81 billion in 2025, at a CAGR of 7.8%. The growth can be attributed to rising disposable incomes, increased demand for fast fashion, consumer preference for online shopping, growth in business attire purchases, and the shift of big fashion brands to online retailing.
The fashion retailing market is set to grow to $133.02 billion by 2029 at a CAGR of 7.4%. This growth is driven by rising demand for fashionable products, increased online sales, a focus on innovation, growing demand for sustainable fashion, and digital payment system acceptance. Major trends include technological advancements, the growth of online fashion retailers, enhanced retail experiences, the integration of AR and VR in shopping, and eco-friendly fashion.
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What new trends are reshaping the fashion retailing market and its opportunities?
Leading companies in the fashion retailing market are leveraging artificial intelligence (AI) to gain a competitive edge. AI in fashion retail utilizes algorithms to deliver personalized shopping experiences, optimize inventory management, and enhance customer service. For example, in May 2023, Zyler, a UK-based virtual fashion try-on company, launched an AI-driven tool designed to offer customized shopping experiences. The tool analyzes customer preferences and body measurements to provide personalized outfit suggestions and virtual try-ons, delivering a realistic and engaging experience. This innovation boosts customer satisfaction by tailoring fashion recommendations and helps retailers manage stock by identifying trending items and popular sizes, minimizing overstock and stockouts.
What major market segments define the scope and growth of the fashion retailing market?
The fashion retailing market covered in this report is segmented -
1) By Product: Bag And Accessories, Clothing And Apparel, Footwear
2) By Price Range: Luxury, Mid Range, Budget
3) By Application: Department Stores, Variety Stores, Independents, Supermarkets, Discount Stores, Online, Other Applications
4) By End-User: Children, Men, Women
Subsegments
1) By Bag and Accessories: Handbags, Backpacks, Wallets, Belts, Sunglasses, Jewelry, Watches, Scarves and Gloves, Hats and Caps
2) By Clothing and Apparel: Men's Apparel, Women's Apparel, Children's Apparel, Casual Wear, Formal Wear, Sportswear, Outerwear, Lingerie and Sleepwear, Activewear
3) By Footwear: Men's Footwear, Women's Footwear, Children's Footwear, Casual Footwear, Formal Footwear, Sports Footwear, Boots, Sandals and Flip-Flops
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Which geographical regions are pioneering growth in the fashion retailing market?
North America was the largest region in the fashion retailing market in 2023. The regions covered in the fashion retailing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the fashion retailing industry growth?
Major companies operating in the fashion retailing market are Christian Dior SE, LVMH Moët Hennessy Louis Vuitton S.E., Nike Inc., Industria de Diseño Textil S.A., Adidas AG, H & M Hennes & Mauritz AB, Kering S.A., Uniqlo Co. Ltd., Chanel Inc., Gap Inc., John Lewis Partnership plc, Hermès International S.A., PVH Corp., The Swatch Group Ltd., Hanesbrands Inc., Ralph Lauren Corporation, Levi Strauss & Co., Prada S.p.A., ASOS plc, Burberry Group plc, Gildan Activewear Inc., Boohoo Group Plc, VF Corporation, Jockey International Inc., Golden Lady Company S.p.A.
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What Is Covered In The Fashion Retailing Global Market Report?
•Market Size Forecast: Examine the fashion retailing market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the fashion retailing market for a structured understanding.
•Key Players Overview: Analyze major players in the fashion retailing market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fashion retailing market.
•Segment Contributions: Evaluate how different segments drive overall growth in the fashion retailing market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fashion retailing market.
•Industry Challenges: Identify potential risks and obstacles affecting the fashion retailing market.
•Competitive Landscape: Review strategic developments in the fashion retailing market, including expansions, agreements, and new product launches.
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