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The non-store and online menswear market share is expected to increase to USD 59.61 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 12.5%.
This market research report provide valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (apparel and accessories and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The market report also offers information on several market vendors, including Aditya Birla Fashion and Retail Ltd., Alibaba Group Holding Ltd., Amazon.com Inc., boohoo.com UK Ltd., GANT USA Corp., Grailed Inc., Grenson Ltd., J D Williams and Co. Ltd., Kohls Corp., Landmark Group, Next Plc, Nordstrom Inc., Reliance Industries Ltd., River Island Clothing Co. Ltd., Shoppers Stop Ltd., Tata Sons Pvt. Ltd., The Gap Inc., The Kroger Co., Walmart Inc., and YOOX NET-A-PORTER GROUP among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing digital spending is notably driving the market growth, although factors such as the expanding retail space may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the non-store and online menswear industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Market Driver
Increasing digital spending is one of the key drivers fueling market growth. Fundamentally, companies spend a considerable share of their spending on improving their SEO architecture, followed by social media. This rise in spending on digital platforms has increased website traffic, user base, and repeat users. In the traditional form of advertising, companies used to spend on TV and outdoor forums such as billboards, pamphlets, and radio. However, nowadays, the trend is changing, and vendors are focusing on digital platforms to increase their customer base and drive sales. This increase in digital spending is expected to attract customers from a large base, which, in turn, will drive the sales of menswear through non-store and online channels during the forecast period.
Key Market Trend
Increasing customization is one of the key market trends supporting market growth. Several vendors are developing customized products, such as t-shirts and shirts. Vendors, such as Amazon and Walmart, offer t-shirts that can be customized according to the needs of customers. For instance, on Amazon, a customer can customize t-shirts in terms of text or quotes, pictures, colours, and font. Similarly, Walmart provides an option to choose t-shirts from various sizes, colours, and pictures to create personalized t-shirts. It helps customers to create products on their own in less time and have cost advantages in terms of free shipping and no investment. Therefore, vendors focusing on printing on-demand models and offering customized t-shirts will drive the growth of the global market during the forecast period.
Key Market Challenge
Expanding retail space is one of the factors challenging the market growth. Multi-brand retail stores sell the various brands offered by vendors, thus enabling consumers to choose from a wide variety of brands. Walmart and Kroger are some of the leading retailers that sell menswear through offline channels. For instance, on May 25, 2022, Amazon announced the launch of its first brick-and-mortar fashion retail store in Los Angeles, the US. The store has employed machine-learning technology to help customers find clothes and personalize recommendations. Moreover, the plan of establishing stores and still focusing on offline format poses competition to the online channels. Such factors can negatively impact the growth of the global market during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global non-store and online menswear market as a part of the global apparel, accessories, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as price, quality, presence of brands, discounts, and availability of products to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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34% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the non-store and online menswear market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Vendors are trying to expand their presence across countries in APAC through partnerships with logistics companies and exclusive brands, as well as M&A, which will facilitate the non-store and online menswear market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 had a negative impact on regional market growth. However, the initiation of vaccination drives by the governments, the growing trend of non-store and online menswear for various social events, and the increase in disposable incomes are the major factors expected to drive the growth of the regional market during the forecast period.
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The market share growth by the apparel segment will be significant during the forecast period. The men's category of the fast fashion industry is growing due to the demand from the youth and fashion professionals. Men belonging to these categories keep track of fashion trends and update and style themselves according to the latest fashion. Therefore, men opt for subscription services as they can get discounts on clothes on non-store and online platforms. Thus, the apparel segment will witness growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post COVID-19 impact on each segment.
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Non-store and Online Menswear Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.5% |
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Market growth 2022-2026 |
$ 59.61 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
10.68 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 34% |
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Key consumer countries |
US, China, India, Japan, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Aditya Birla Fashion and Retail Ltd., Alibaba Group Holding Ltd., Amazon.com Inc., boohoo.com UK Ltd., GANT USA Corp., Grailed Inc., Grenson Ltd., J D Williams and Co. Ltd., Kohls Corp., Landmark Group, Next Plc, Nordstrom Inc., Reliance Industries Ltd., River Island Clothing Co. Ltd., Shoppers Stop Ltd., Tata Sons Pvt. Ltd., The Gap Inc., The Kroger Co., Walmart Inc., and YOOX NET-A-PORTER GROUP |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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