Global Clothing and Footwear Retailing to 2015-2020: Ken Research Global clothing and footwear market is expected to grow at a faster rate during 2015-2020, fueled by growing demand from developing markets, mainly in Asia. In developed markets, such as the US, a change in consumer attitude to seek discounts will fuel demand for value clothing and private labels. Fast fashion will be another factor influencing sales as demand for latest runway designs at affordable price continue to rise among millennials across the globe. Online channel will benefit from these factors, offering lower price, wider product choices, cross-border shipping, and easy payment options. Growing fashion consciousness, rising disposable incomes, urbanization, and increasing access to internet, will underpin growth emerging markets, which are witnessing increased investment from specialist retailers. Key Findings Global clothing & footwear retail sales is forecast to surpass USD 1.9 trillion by 2020, with major impetus from developing markets China will add USD 151.7 billion in sales during 2015-2020, which will lead it closer to the world's largest market the US Indonesia will make an entrance into the list of top 10 largest clothing and footwear markets in 2020, representing 2.9% share in global sales Asian markets, Indonesia, Philippines and India, are set witness higher growth rates between 10-13% during 2015-2020 Specialist retailers will continue to be the largest channel for clothing and footwear sales, however discount stores and online are growing at a faster pace. Online will increase its share from 11.9% in 2015 to 20.2% in 2020 Considering the rising importance of online channel, retailers are adopting click-and-collect, virtual reality, contact less payments, and deploying chatbots, an interactive robotic technology, to engage with customers and offer them a swift, convenient, and personalized shopping experience Synopsis The "Global Clothing & Footwear Retailing, 2015-2020" report, published by Verdict Research, provides comprehensive analysis of global clothing and footwear retail sales across different channels. The report covers current and forecast retail sales data for the category in 50 countries. It also details consumer trends, competitive landscape and latest innovations occurred in the review period.
Europe Clothing and Footwear Retail Market Analysis - Ken Research
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