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

Pic: Shutterstock

Textiles | On 26th Feb 2020

Bangla Tariff Commission fears grave impact on China trade

The impact of the coronavirus outbreak on Bangladesh-China trade is...

Pic: Shutterstock

Textiles | On 26th Feb 2020

UK risks losing up to 14% of exports to EU if no deal: UN

Non-tariff measures could cause major fractures in post-exit UK-EU...

Pic: Shutterstock

Textiles | On 26th Feb 2020

Turkey's textile industry employs 1.67 mn: minister

Turkey's textile and garment industry currently employs around 1.67...

Interviews View All

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Top executives, Textile industry

Top executives
Textile industry

The new deal is better than NAFTA for the US textile industry

Milind Khandwe, Hindoostan Innovation Centre

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Marco Girola,

Marco Girola

With its commitment to innovation and deep technical expertise,...

Spring Chang,

Spring Chang

A specialist in manufacturing printing machines, <b>Wenzhou Changs</b>...

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

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

Leave your Comments


February 2020

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


Advanced Search