Market Research Reports - Ken Research Global Apparel Industry Major Players Market Share

Digital Integration and Iot another Move for Fashion Retail Industry: Ken Research
Latest technology, integration, innovation and personalization are the major factors involved in
the global fashion retail industry in the recent years. The year 2017 in the global apparel retail
industry appears to be stable, but not a magnificent year for the market. The maximum sales
are primarily led by direct-to-consumer channels and international growth. Studies suggest that
the apparel sector need to work harder than ever to remain a priority for the consumers’ to
spend on apparels. Globally, the younger consumers seek and spend more on apparel services
and gain more experience. In the coming years the apparel retail market will witness innovation
with new ideas in terms of technology and experiments on the apparels. The apparel retail
industry growth will witness sales through online and offline shopping or at stores along with
consumers and stores using technology more intuitively. These improvements attract what
consumers wear, buy, shop and where to shop.
According to the research report “Apparel Retail Global Industry Guide 2016”, with the
increase in the competition among the online stores, some of the online stores are likely to shut
down. Few department stores continue to struggle to survive by offering discounts,
contemporary styles and fashion. The major factor affecting the global apparel retail industry is
the increasing cost of the real estate space occupied for stocking or selling of the apparels. The
declining department store sales led to establishment of store known as Bonobos store that
showcase their products without any stocks and the customers require to make their purchase
online. Researchers say that these types of showrooms can help solve the difficult problem of
markdowns, and help retailers limit in-store inventory.
Normally, in a store the apparels are stocked according to size, colour and designs which
occupy more space in the inventory. Whereas, the latest Bonobos store do not stock apparels
but display more number of apparels with five styles in five washes and with 44 sizes. The
global apparel retail industry is experimenting on various types of showrooms to evacuate the
existing stores with very large inventory and reopened smaller showroom in the same place.
Majority of the leading apparel companies in the world are looking forward to expand into their
own branded physical retail spaces in order to approach consumers directly. Look for
competitors are looking for pop-up shops and other flexible physical channel activations to
become more popular and brands are experimenting while growing out their physical channels.
Retailers are embracing artificial intelligence for greater personalization. Leading retailers are
taking advantage of advancements in machine learning, deep analytics and AI for a more
targeted and personalized shopping experience.
The changing fashion trend is the overall casualization of fashion that has expressed itself as
athleisure. The increased drive toward casualization across all global apparel channels has led
to the next generation of casualization that will be pajamas as weekend wear. Pajamas are not