Textile and apparel market has connected various culture across the globe. Countries are coming forward to textile trading and consumers are participating equally. Exchanging cultures has become a modern culture - a culture that appreciates every fashion across the world.
Globalization has turned the entire fashion industry; no fashion is limited to an area. This must boost up the fashion market to US$ 545 billion in 2019 and expected to reach US$ 713 Billion by 2022. Numbers are speaking for the apparel market louder than anyone else.
Todays world chases fashion like ever before and its going to be crazier in the future. Consumers are investing a handsome amount in apparel and textile. And brands are taking care of their customers by following the below-mentioned trends.
1) Globalization: The craziest trend is globalization and the one which has reshaped the fashion and apparel industry. While consumers are looking for more options, globalization has a lot to give. Consumers are curious to know what people are loving at the other side of the globe and they can now get it easily too. Globalization has given wings to fashion brands to discover the best for their consumers. Brands are now considering the demand of their consumers and adding more value to their apparels.
2) Personalization: In the world of customization, personalization has become the 1st choice of consumers. Everyone loves to be exclusive especially when it comes to fashion. And brands know how to make their consumers feel exclusive. Brands are exploring more and more on personalization end. Your Style Speaks Your Personality, consumers are chasing the brands who speaks their style best. Consumers are getting very choosy about their picks.
3) Technology: Hi-tech has left no corner of the world. Not even textile and apparel. Yes! From machinery to wearable, hi-tech solutions are uncovering new possibilities every day. A few names out of many are bio fabrication leather, Wood fibre yarn, and tech-infused wearables. Consumers are tech-advanced apparel as much as brands are loving to explore. Tech has come into the industry a few years back but going to stay for long or maybe forever. Hi-tech trends are here to change the fashion and apparel sector inside-out.
4) Sustainability: Textile and apparel industry understands the demand of industry, consumers, and environment. Brands and consumers both are paying attention to sustainability. This cause the rise of sustainability production ratio for textile. The concept of sustainability extends every innovation- from dyes to luxury fabrics and apparel all have at least one environment components. Sustainability has become an integral part of the textile and apparel industry. After all, the environment is on the top and health has become the top consumers priority.
5) Direct-to-Customer: Online shopping has changed the entire shopping model. Brands are now connected directly to their customers. Theyre no more dependent on middleman and retailers. Shopping malls and storefront are getting shut as customers can reach directly to the brands they wish to. D2C model has empowered customers and brands by connecting them directly. Many are switching rapidly to D2C business model. This also helps brand building good relations with their customers. D2C trend is surely forever.
These trends are reshaping the entire textile and apparel trading structure. Brands are taking good care of market demands and industry needs. According to MarketLine, the global apparel industry has a long way to go with the average annual growth rate of 5%. The industry is touching the new heights of success every day and night. Cheers to many more!