Press release
Clothing/Apparel Stores Market Size Forecasted To Achieve $1381.43 Billion By 2029 With Steady Growth
Clothing/Apparel Stores
What Is the Clothing/Apparel Stores Market Size and Projected Growth Rate?
The market size for clothing/apparel stores has seen significant growth in the past few years. It is projected to increase from $969.57 billion in 2024 to $1051.67 billion in 2025, boasting a compound annual growth rate (CAGR) of 8.5%. Factors such as the rise of fast fashion, demographic shifts among consumers, the sway of social media, the expansion of e-commerce, advancements in marketing and advertising, as well as the prevalence of mall culture have all contributed to the growth during the historical period.
It is predicted that the market size for clothing/apparel stores will showcase robust growth in the subsequent years, increasing to $1381.43 billion in 2029 with a 7.1% compound annual growth rate (CAGR). This anticipated expansion in the forecast period is largely attributed to factors such as sustainability initiatives, growth in health and wellness clothing segment, economic rebound, the popularity of athleisure, introduction of inclusive sizes, and the global reach of fashion. The forecast period is set to witness prominent trends such as subscription and rental services, individualized customization, the hurdles faced by fast fashion, emergence of direct-to-consumer (DTC) brands, and breakthroughs in retail technology.
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What Are the Major Segments in the Clothing/Apparel Stores Market?
The clothing/apparel stores market covered in this report is segmented -
1) By Type: Clothing Or 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
Subsegments:
1) By Clothing Or Apparel Stores: Men's Clothing Stores, Women's Clothing Stores, Children's Clothing Stores, Unisex Clothing Stores
2) By Jewelry And Watch Stores: Fine Jewelry Stores, Costume Jewelry Stores, Watch Retailers
3) By Optical Goods Stores: Eyeglass Retailers, Contact Lens Retailers, Sunglasses Retailers
4) By Footwear Stores: Athletic Footwear Stores, Casual Footwear Stores, Formal Footwear Stores, Specialty Footwear Stores
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What Are The Driving Clothing/Apparel Stores Market Evolution?
The growing demand for textiles and clothing is predicted to stimulate the expansion of the clothing/apparel store market. The term textiles and clothing pertains to any material or item like fiber or yarn produced through processes of knitting, felting, or weaving. These materials are specifically curated for different types of clothing aimed to protect the wearer from cold, heat, or water. Such textiles and clothes are typically involved in the manufacturing of a variety of products, from new textiles to carpets, household textiles, non-woven textiles, and fabrics using raw materials. These products are showcased and sold by clothing/apparel stores to consumers via both online and offline channels. For example, in July 2023, the Confederation of Indian Textile Industry (CITI), a trade group from India representing the textile sector, reported that the nation's textile and apparel exports witnessed a growth of 4.73 percent, amounting to $2,937.56 million, in comparison to that of the same month last year. Hence, it's evident that the climbing demand for textiles and clothes is powering the growth of the clothing/apparel store market.
Which Firms Dominate The Clothing/Apparel Stores Market Segments?
Major companies operating in the clothing/apparel stores market include 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., 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
What Trends Are Expected to Dominate the Clothing/Apparel Stores Market in the Next 5 Years?
Innovations in products have become a significant trend in the clothing/apparel store market and are appreciated immensely. To solidify their market position, major corporations in the market of clothing/apparel stores are launching unique stores. For example, in September 2022, 6thStreet.com, an online shopping site based in UAE, initiated the first of its kind phygital store in the region specifically for fashion. This technologically advanced space amalgamates online buying with physical retail experiences, ensuring a smooth shopping passage for customers. The phygital store permits visitors to explore online assortments, conduct transactions digitally, and interact with the products in-store, effectively amalgamating the finest of both domains.
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Which Is The Largest Region In The Clothing/Apparel Stores Market?
Europe was the largest region in the clothing/apparel stores market in 2024. The regions covered in the clothing/apparel stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Clothing/Apparel Stores Market?
2. What is the CAGR expected in the Clothing/Apparel Stores Market?
3. What Are the Key Innovations Transforming the Clothing/Apparel Stores Industry?
4. Which Region Is Leading the Clothing/Apparel Stores Market?
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