Market Research Reports - Ken Research Global Apparel Industry Major Players Market Share | Page 2

a new concept in fashion industry because majority of the college students worldwide have
been wearing it for years that will now go main stream. New developments and growth in
apparel industry is witnessing an explosion of sub-categories such as athleisure highlights how
retailers are evolving into lifestyle brands. Many leading competitors launched active wear and
athleisure lines collaborated with celebrities. Customers wear relaxed clothing and majority of
them are choosing to shop at home which gives more personalized services such as tailored
subscription services. It was observed that the leading companies in apparel retail industry are
more focused on lifestyle than performance with lifestyle brands becoming more active-
oriented. Digital integration has led to big deals across all apparel retail channels. The year 2017
is a year of the smart stores. Internet of Things (IoT) technology is deployed in this sector at a
quicker pace that will affect systems and processes across the entire apparel retail enterprise,
particularly at the supply chain.
Retailers are using technology to harvest data and are using it to develop solutions for the most
pressing pain points in shopping journey, including fitting room problems, order fulfilment
issues, tiresome checkout processes and others. Automatic checkout through digital pay
systems makes shopping experience more fun for consumers. Innovative solutions in the retail
supply chain include digitally enhanced inventory transparency and searches for out-of-stock
replacements. Today’s world’s population is choosy about their mobile devices for internet-
based activities such as shopping, therefore, smart phones have becomes the dominant
platform. Majority of the apparel retailers are depending on social media and the latest
applications in virtual reality to promote their apparels.
Global apparel retail industry is dominated by the Asia Pacific, with a rapid growth in the middle
class, urbanization, stable economy, availability of trained manpower at competitive cost, and
local availability of most raw materials in India, China, and Japan. The favourable demographics
in the global apparel industry are the increase in consumer spending limit, new shopping malls,
and modern lifestyles. These factors maintain the balance between price and quality which is
the biggest challenge for the industr