Global, apparel market place is now going through a
paradigm shift moving towards increased product differentiation, and customers
becoming more diverse, and demanding. What are the changing attitudes of
apparel shoppers? What are the emerging retail trends?
Global market for apparels has gone through a rapid
transformation in the recent past. Along with the market, so has the end user's
awareness, and demand of the various offerings. This makes competition in the
apparel sector tougher. As, the fads keep changing rapidly, there is no
appropriate road map for guaranteed success in the apparel market. Forecasting
the retail apparel market trends is 'a hard nut to crack' due to the drastic
changes in fashion, and simultaneously the customer preferences. However, based
on the retail, manufacturing, and fashion merchandising business, a few facts
can be predicted to be the forthcoming trends in the retail apparel market. A
few clear trends do emerge based on demographic shift, societal influences,
economic influence, and environmental concerns.
- Pressure on Retailers through restricted customer
spending:
Customers will curtail on their expenditure, and go for less
shopping is specific stores. Thus retailers who focus on loyalty programs will
be benefited. Shoppers of today are more segmented by demographics, lifestyle
attitudes, and cultures. Their 'love affair' with apparel shopping will see a
slight decline due to the swelling pressure of global economic turmoil.
- Retailers seek entry into global markets:
Apart from their own domestic market, retailers will look
for business opportunities in global markets. With the apparel markets in US,
and EU getting saturated, a paradigm shift will be seen in markets of Asia, and
South America. To be successful in the international market, retailers need to
have a strong brand image for their products. While a few barriers still
remain, they will plan to expand into foreign marketplaces with a high level of
retail market. To further accelerate the process, they will seek local
partners.
- Fast fashion and customization gain control over supply
chain:
More and more consumers will prefer to buy apparels that
will match with their status, and lifestyle, and also go with their needs and
aspirations. More efforts will be made to tailor merchandise assortments to
local markets. The trend of customization runs further than that. Retailers
will show willingness to sell on trend apparels which matches more with the consumers
needs, feelings, and comfort. Supply chain systems will be altered and
configured to suit the changing desires of the customers. Retailers will plan
to curtail excess manufacturing expenses by maintaining a balance between
demand and supply.
- Increased focus towards Sustainability:
Material trends will be going green and bright. Apparel
industry is turning greener these days with sustainable trends evolving to be a
major influence on the industry at a global level. Mounting pressure on the garment
sector to reduce environmental impacts for cultivating, processing, dyeing,
bleaching, and making of fabrics will induce the retailers towards a
sustainable path. Also there is an expectation to eliminate exploitation of
labor, remove the existing labor inequalities, and have a fashion forward
approach towards the manufacturing process. Fibres from wood pulp, bamboo, soy,
corn and many other natural fibres will become a staple fashion.
