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Womenswear, reportedly, accounts for more than half (53%) of the global retail spending. By comparison, spending on men’s clothes and children’s clothes is relatively modest – 31% and 16% respectively.
With the female segment of the society having better access to and engagement with the internet and offline market and along with their independence of decision making, the market players are continuously offering fashionable products thereby increasing the overall demand and gaining traction in the womenswear market.
Global womenswear market is expected to grow at a robust CAGR in the coming future.
The growth of this market is attributed towards factors including, the growing ratio of women to men along with the increasing number of working female population worldwide, evolving fashion trends, shift to ready-to-wear shopping and ease of retail trade, increasing and high spending power of females, the growing influence of social media and celebrities, entry of branded players and foreign brands in the clothing industry, changing consumer behavior from need-based to aspiration-based buying etc.
Additionally, global brands have been focusing on expanding their customer base, either through e-commerce sites, discounts, by celebrity endorsements, or customization of fashion to suit the growing needs.
Continuous innovation in clothing trends, ease of payment, visual merchandising and seamless shopping smooth delivery experience, magazines dedicated to fashion statements are all solitarily expected to boost the global womenswear market.
Furthermore, international and local brands are not only innovating in general but are also focusing on introducing apparel, footwear, and accessories suitable for various special occasions such as the airport look, workout look, and others.
The worldwide boom in the e-commerce sector has become of the major catalyst for the global womenswear market. The top-class and well established brands which were once limited to the upper section of the society travelling to fashion destinations have embraced women of all classes via the online channel. Women from all domains of life can be seen indulging in fashion and trends. Ease of accessibility and easy return policies are all creating an upward trend for the market.
The global economic development has entered the era of online information, which has undeniably accelerated the transformation of the global economy. Currently, e-commerce has entered a period of massive growth, which has spawned many influential online women's wear brands. These brands continue to grow through online marketing, and people's shopping methods are also influenced robustly.
The rapid developments and advancements are resulted by major crises including the emergence of fishing websites which on a serious note jeopardizes the shopping environment, the characteristics of online women's clothing brands are usually not prominent, with an exaggerated effect of clothing and high consumer turnover rate. For online women's clothing brands, to enhance the brand's core competitiveness and increase the added brand value with their efficiency, strategy formulation is a must. This has been followed since several decades. Owing to the above mentioned factors, the overall womenswear market is to propel significantly.
WOMENSWEAR MARKET SEGMENTATION:
- Top Wear
- Bottom Wear
- Sports & Active Wear
- Intimates & Sleepwear
By Distribution Channel:
- Modern Trade
Europe is currently the dominator in the womenswear market. This can be attributed to the growing economic independence of the female population and augmented fashion consciousness prevalent among its crowd. Furthermore, the purchasing power in the region is comparatively higher than most others. Europe is home to the largest global brands such as Chanel, Dior, Lacroix, Gucci, Prada, Versace, and others. Thus, the region contributes majorly on the global sales of the womenswear products.
The Asia Pacific region is expected to witness the fastest growth in the near future as a result of the growing establishment of offline and online players in the market and also the increasing ability to pay for its requirements by the people.
FEW KEY PLAYERS IN WOMENSWEAR MARKET:
- ATT Clothing
- Good Clothing Company
- Giorgio Armani
- MANOLO BAHNIK
- DOLCE & GABBANA
- Guccio Gucci
- Gianni Versace
- LOUIS VUITTON
- Indie Source
- Other Players
- In October 2020, ASOS launched a new-to-market womenswear label ‘As You’ with prices starting from just £8 and over 100 pieces to choose from and as a stand-alone brand.
- In November 2020, J.Jill Inc. , the struggling womenswear chain announced its reverse stock move where its board of directors approved a measure in which its shareholders were to receive one new share of its common stock for every five shares that they held prior to a date that was set.
- In November 2020, Cape Town-based international retail giant The Foschini Group (TFG) reportedly closed 148 outlets within TFG London, its European business which has been hardest hit in the wake of the global Covid-19 pandemic and related lockdowns.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global womenswear market by the following segments:
- Distribution Channel
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Womenswear Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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