Apparel and Textile
Overview of the global bikes and ride-ons market for babies and children
Technavio’s market research analyst predicts the global bikes and ride-ons market for babies and children to grow at a CAGR of over 8% by 2020. The online retailing of baby and children bikes and ride-on is gaining popularity because of the emergence of off-price pricing strategy. The growing number of online shopping websites allow vendors to expand their reach and eventually tap more customers with making their range of products available online. The baby and children bikes and ride-on vendors are offering their products online as it enables prospective consumers to compare the prices and features before making the final purchase. The increase in the number of internet users and the acceptance of the internet as a safe place to make monetary transactions is fueling the growth of the online market for baby and children bikes and ride-on. Target, Toys R Us, Argos, eBay, Sears, Walmart, Halfords, First Cry, Hopscotch, BabyOye, and MyBabyCart are some of the online websites providing baby and children bikes and ride-ons.
Manufacturers are designing three-wheeled motorcycles especially for younger children. They are manufacturing electrical ride-on vehicles in the form of all-terrain vehicles (ATVs), tractors, fork lifts, quad bikes, dump trucks, go-karts, and other products. These vehicles have features such as front and rear lights, MP3 player inputs, indicators, horn, and remote control. Manufacturers are also planning to include features such as digital light emitting diodes battery meters, dashboard with cameras streaming audio and videos, and Wi-Fi. Some of the ride-on vehicles manufacturers are also incorporating solar technology in outdoor ride-on vehicles.
Competitive landscape and key vendors
The market is characterized by
Overview of the global premium denim jeans market
Technavio’s market research analyst predicts the global premium denim jeans market to grow steadily and post a CAGR of more than 8% over the forecast period. The recent rise in the number of young professionals and the provision to wear casual clothes in most workplaces are the major drivers fostering growth in the premium denim jeans market. Good fit, style, and durability are the major attributes that have increased the preference for premium denim jeans. Many manufacturers are replacing the cotton with synthetic fibers for manufacturing denim jeans owing to the growing demand for comfort stretch denim among consumers. Earlier the stretch material was only restricted to women with bottom wear products such as leggings and jeggings. However, the convenience and comfort offered by these materials have attracted the attention of many male customers. The availability of different fits and cuts in these denim satisfies different types of customers, which will further augment sales of premium denim jeans in the coming years.
As per this industry analysis, APAC will be the fastest growing market for premium denim jeans during the estimated period. In this region, China will emerge as the key revenue contributor to the region’s market. The widespread availability of premium denim jeans has resulted in the momentous growth of the market, especially through online sales channels. Factors such as the increasing penetration of premium denim jeans brands and their rising awareness among consumers are also driving the prospects for market growth in the region. Skinny jeans constitute the highest selling segment in the market due to their comfortable material, which allows flexible movement and versatility.
Competitive landscape and key vendors
Overview of the menswear market
Market research analysts at Technavio have predicted that the global menswear market will grow steadily and post a CAGR of more than 4% over the forecast period. Consumer’s desire to look fashionable and trendy is one of the primary factors driving the menswear market globally. Therefore, celebrity endorsement has a significant role to play in setting fashion trends and also helps to build product and brand awareness. For instance, brands like Adidas, Reebok, Dolce & Gabbana, Giorgio Armani, Givenchy, and Gucci invest heavily in employing popular male brand ambassadors to endorse their products. Moreover, department stores are also increasingly investing in celebrity endorsements for their retail apparel brands to attract customers and compete in terms of brand awareness and recognition. This promotional strategy is in line with the launch of international fast-fashion retailers in the global market and will boost this market’s growth in the coming years.
The increasing number of private label brands and smaller manufacturers of menswear products is one of the upcoming trends spurring this market’s growth prospects in the future. The number of private-label brands is increasing in the global menswear market, posing serious competition for global and regional vendors. Also, private labels are undercutting the retail prices of branded labels, and there has been a distinct improvement in the quality of the products offered by these private labels. In India, for instance, smaller regional manufacturers such as Arvind Textile, Garmeto, and Windmill Creations pose significant competition for fast-fashion retailers, such as Zara, H&M
Overview of the online apparel, footwear, and accessories market in the US
Technavio’s market research analyst predicts the online apparel, footwear, and accessories market in the US to grow at a CAGR of more than 16% by 2020. Free shipping and hassle-free return policies are significantly contributing to the growth of online sales in the US. Approximately 90% of the online retailers are offering free shipping and hassle-free return policies to attract customers. Few retailers like J.C. Penny and Target provide free shipping on all orders during the holiday seasons. Walmart has reduced its minimum purchase requirement for free shipping, which has made more than 90% of the items sold by Walmart's online store eligible for free shipping. Favorable policies regarding convenient returns and exchange are very crucial to attract and retain customers to the online portals as about 67% of consumers look at return policies before making a purchase. Factors such as the availability of easy and secure online payment options, facilities to track shipments, 24/7 customer support, and low costs have led to higher demand for online shopping in the US.
The market is witnessing the rising popularity of digital payment devices. The digital payment services allow consumers to make payments at the point of sale through a mobile device. Such transactions can be completed in a few steps by using a mobile device. Established players like Amazon, Google, MasterCard, PayPal, and Square are making huge investments in the digital payment technologies. Vendors are using digital payment applications to improve the consumer experience, which will help the growth of the online apparel,
Overview of the winter wear market in the US
Technavio’s market research analyst predicts the winter wear market in the US to grow at a CAGR of almost 3% by 2020. The winter wear market in the US is highly seasonal and is primarily driven by the climatic conditions of the region. Vendors are constantly coming up with new winter products, including a mix of heavy and light woolens to address the fluctuating weather patterns. Holiday season sales and the availability of online discounts are also major revenue contributors for the retailers in this market. Outdoor winter apparels form an important part of the overall winter wear market in the US. Consequently, several outdoor specialty retailers are opening their stores across the US region to increase their market presence.
Being a lucrative market for luxury and fashion-savvy businesses, several vendors across the globe are expanding into the US market. This has propelled the sales of outdoor luxury outerwear in the market. Luxurious brands like Krimson Klover and Zara are coming up with high-quality women’s apparel in its winter wear segment. Also, these brands have launched their shopping websites and are also using social networking sites to introduce their products. This recent increase in the use of social media to spread awareness about products will attract many consumers, especially the working women.
Segmentation by retail format and analysis of the winter wear market in the US
- Specialty stores
- Mass merchandisers
- Online retailing
The online retail channel is expanding rapidly largely due to the growing internet penetration and rising use of m-commerce in the US. The ease and time-saving aspects of online
Overview of the global women apparel market
Technavio’s market research analyst predicts the global women apparel market to grow at a CAGR of around 3% by 2020. At present, several apparel companies are increasingly focusing on providing their products online with the help of e-retailers. They offer a wide range of products with various price segments through third-party portals and their online shopping sites. Several apparel companies are also providing customized and personalized services online. Zara's and H&M's Android and iOS apps are some of the major digital media platforms for consumers in women's apparel products. Vendors are also resorting to social media marketing where Facebook, Twitter, Google+, and YouTube are the most popular social media sites for product promotion. Some of the successful social media campaigns for women apparel products include Zara's TRF LOOKBOOK on Pinterest, H&M’s #HMLoves-Share your Style with Us, and Nike's The Nike+ Human Race, Nike She Runs, and Make Yourself. With the growing engagement in social networking and blogs, vendors are using social media to increase awareness and promote their products, which will significantly contribute to the growth of the women apparel market over the next few years.
During 2015, Europe dominated the market and accounted for more than 33% of the total market share. The growing number of fashion-conscious consumers has driven the sales in this region. The major revenue-generating markets are the UK, Germany, France, Spain, Russia, and Italy. The specialty store retailers accounted for the largest proportion of clothes sale in the European women apparel market in 2015. The market in Europe is expected to grow
The apparel and textile industry is becoming more attractive to manufacturers, vendors, and investors. As the disposable income of consumers continues to grow, so does consumerism. Coupled with greater fashion consciousness, variety, and accessibility, the industry is poised for further growth. Many factors play a part in influencing the industry’s growth, like changing economic conditions, political scenarios, consumer preferences, and taxation policies. As emerging markets become more attractive to manufacturers, they need to develop targeted strategies to enter these markets. Ensuring they have distrubtion networks that are capable of meeting demand across diverse environments is fundamental to their success.
Technavio’s reports explore the changing dynamics of the apparel and textile industry and current and future market scenarios, offering a comprehensive view of the retail landscape.