Market Situation And Development Trend Of Global Apparel Retailing Industry In 2018

The scale of global garment retailing is steadily expanding.

Driven by the global economic growth, people's disposable income has steadily increased, thus promoting the scale of the global garment retailing industry. According to Frost&Sullivan statistics, in 2018, the total retail sales of the global garment retail industry amounted to 14382 billion US dollars, and the composite annual growth rate was 4.2% over the past 2014-2018 years.

In terms of classification, global clothing can be divided into lower garments, shirts, sportswear, underwear, sweaters, coats, custom-made and others. In 2018, the global apparel retail market mainly consisted of shirts and shirts, with retail sales exceeding US $230 billion, accounting for 16.3% and 16% of total retail sales respectively.

Compared with the growth rate, the retail sales of sportswear and sportswear increased significantly over the past 2014-2018 years, with a compound annual growth rate of 5.6%. This is mainly due to the growing popularity of global health and fitness and the widespread relaxation of dress codes.

From the point of view of positioning, global clothing can be divided into luxury, high-end (bridge, excellent), middle end, and public. At present, the global apparel retail market is dominated by Zhong end and Volkswagen brands. In 2018, the retail sales amounted to 467 billion 400 million US dollars and 414 billion 300 million US dollars respectively, accounting for 32.5% and 28.8% respectively.

In terms of growth, the growth of high-end market is remarkable. In the 2014-2018 years, although the market share is not large, the compound annual growth rate of bridging and excellent market brands is 4.5% and 4.9%, respectively, thanks to the popularity of new brands. The emerging brand has a higher premium than the brand that caters to the mass consumption market.

In terms of brand names, traditional brands account for about 87.6% of the global apparel retail market, while online brand names and platforms account for about 12.4%. In the past 2014-2018 years, the global retail sales of traditional brands increased from $10755 billion to $12599 billion, with a composite annual growth rate of 4%, while the retail sales of network native brands increased from 144 billion 400 million US dollars to $178 billion 300 million in the same period, with a composite annual growth rate of 5.4% and 1.4 percentage points higher than that of traditional brands.

Global fashion retailing presents five major trends

In the future, the global apparel retailing industry will present the following trends: first, the demand of global consumers for fashion goods will be further upgraded to be interesting, ready to use, sustainable and reasonably priced, so more and more consumers are turning to clothing rental and second-hand clothing. With the continuous development of two hands, leasing and other business models, exclusive brand sales may no longer become consumers' shopping path.

Two, the younger generation, including the Z generation and the millennial generation, will become the main force of clothing retailing. This shopping main force is increasingly relying on their shopping habits, and the importance of commodities, brands and their values.

Three, speed has gradually become the industry standard, especially for online retailing. In addition to the one-stop service such as quick delivery and distribution, Amazon, an e-commerce giant, is increasingly trying to speed up the shopping process, such as integrating shopping functions in social media ports, visual recognition and shopping. From technology to service, timely and fast shopping experience is becoming a new consumption index.

Four, subversion will become one of the key words in the global apparel retailing industry. Externally, social media momentum and technological development have generated a large number of emerging brands and business models, and these roles are challenging the traditional industry. At the same time, in order to compete and maintain relevance among young consumers, more and more traditional brands are subverting to catch up with the new trend, trying to build their brand new products and business models.

Five, fashion design and fashion change are no longer a long process. Brands and businesses will use technology to speed up the frequency of product line changes. For example, automated data tools will help companies adopt flexible order production cycles and respond faster to market trends and consumer needs. Author: Ke Sufang