Home / Knowledge / News / Apparel/Garments / Global apparel sales to cross $1.4 trillion
Global apparel sales to cross $1.4 trillion
09
Jul '16
Courtesy: PRnewswire
Courtesy: PRnewswire
The global apparel market, which has been experiencing a slowdown in growth since 2009, is now showing signs of recovery and sales in 2016 are expected to exceed $1.4 trillion, according to a study conducted by an e-commerce and marketing agency in China.

The U.S. market is projected to represent 1/5th of the total, which translates into more than $300 billion, while women's apparel sales are on track and expected to command 40% of total apparel sales worldwide, says the Shanghai-based agency Sinointeractive.

The agency also found that the purchasing habits of young women, the most important contributors to overall sales, are changing in that they are becoming more and more sensitive to the price: Its research said 54.6% of women in the 18 to 35 age bracket in America buy their clothes online, and the price-performance ratio is the most important factor influencing their decision to purchase.

Acknowledging the trend, Leo, the operations director at Globalegrow, a leading international apparel e-commerce supplier based in China, said that his company has already adjusted the pricing strategy as a result.

The company, he said, had developed a sophisticated pricing system: while strictly maintaining the high quality of the products, the system calculates the most reasonable prices taking into account the purchasing habits of the shoppers, the product's popularity in the region, currency exchange rates and other factors.

At present, more than half of the company's sales are women's clothes in the $20 to $50 range. These products are selling quickly, especially during peak buying seasons such as the summer break and at the end of the year.

Another important industry trend is the growing demand by shoppers for products that are personalized and customized. Leo said customer service staff report that, every day, in their conversations with shoppers, they frequently ask for customised changes or add-ons such as accessories in matching colours, name engraving, and changing some details on the garment for a personal touch.

Globalegrow, he claimed, has an independent customer service team that consists of 20 members, who regularly conduct surveys incentivized with prize giveaways with both legacy and recently acquired customers, on websites such as www.sammydress.com, www.rosegal.com, www.zaful.com, to learn more about their purchasing habits in addition to drawing conclusions based on big data collection and analysis in a move to adjust service strategies in a timely manner and meet demands from shoppers for personalization. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Apparel/Garments | On 25th Sep 2017

AAFA urges US govt to plug lacunae in military procurement

The American Apparel & Footwear Association (AAFA), an alliance of...

Apparel/Garments | On 25th Sep 2017

Amazon trying to enter Turkish home textile product market

Amazon has noticed Turkey’s potential in e-commerce and is discussing ...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search