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The women apparel market size is forecast to increase by USD 212.8 billion at a CAGR of 5.28% between 2023 and 2028. Market expansion hinges on multiple factors, including the emphasis on premiumization facilitated by strategically positioned brands, the growing presence of women in the global workforce, and a heightened emphasis on social media presence and celebrity endorsements. These variables collectively shape the trajectory of market growth, reflecting a confluence of branding strategies, societal shifts, and digital marketing trends. The focus on premiumization underscores the importance of brand positioning and perception in capturing consumer interest and loyalty. Concurrently, the increasing representation of women in the workforce drives changes in consumer behavior and purchasing power, influencing market dynamics. Additionally, the growing significance of social media and celebrity endorsements amplifies brand visibility and engagement, further fueling market expansion. In essence, the interplay of branding strategies, demographic shifts, and digital marketing initiatives delineates the landscape for the anticipated growth of the market. It also includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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The market embraces sustainability, offering eco-friendly options in response to evolving fashion industry demands. From everyday casual wear to stylish skirts and shorts for various occasions, versatility and comfort are prioritized. Leggings and denim remain timeless staples, while sports wear and winter wear cater to active lifestyles. Night wear trends blend comfort and elegance, inspired by celebrities and showcased on e-commerce sites. Discounts and easy internet access drive sales, while clothing trends are influenced by both online platforms and traditional magazines, reflecting the dynamic nature of women's fashion. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Premiumization through well-positioned brands is notably driving the growth of market analysis. The market offers a wide variety of products of varying quality. However, there is currently a strong preference among consumers for premium and high-end brands. Luxury brands usually represent quality, style, and status for most people. Therefore, customers choose brands that are well-positioned in the market and do not hesitate to pay extra for these brands. Premium brands such as Gap, H and M, Kering, and LVMH (with high brand awareness among customers) are positioned for wealthy customers who can afford high-quality products at high prices. Therefore, the price of premium women's clothing is significantly higher than that of ordinary generic women's clothing. This is a key factor for companies serving premium and demanding customer segments.
Moreover, the luxury women's clothing segment, which includes tops, dresses, coats, jackets, jeans, and suits, is currently growing and is expected to continue to grow. Manufacturers operating in this sector are beginning to focus on expanding their presence in the luxury segment to cover the full range of women's clothing, from tops to pants. This will drive the growth of the market during the forecast period.
Virtual reality to enhance consumers' shopping experience is a key trend influencing market growth. Virtual shopping is becoming part of the lifestyle. This new technology helps shoppers virtually try on different garments, confirming fit, color, style, and other relevant parameters before purchasing a product. It's arguably one of the best and most innovative techniques used to improve the consumer's shopping experience. The technology also helps save time, as buyers don't have to wait in line at the test room. The technology helps online shoppers visualize what products and clothing will look like given their individual body measurements. Virtual fitting rooms also address issues of size and the inconvenience of returning inappropriate products.
Moreover, a good example is Nordstrom, which enabled fitting rooms by introducing full-body mirrors with interactive screens in two of its stores. Developed by eBay, this technology allows customers to browse products and read product reviews as if they were online. It also has a barcode scanner to check product availability in stores and allows shoppers to request items to be brought into the fitting room. Therefore, virtual reality, which enhances the consumer's shopping experience, is a key trend in the growth of the market during the forecast period.
Competition from other consumer goods to capture a share of personal disposable income is challenging the market growth. Consumer disposable income is spread across the consumption of various products with different contributions, such as clothing, food, groceries, durable goods, electronic goods, and other consumer goods. Changes and fluctuations in income levels lead to changes in consumer purchasing behavior for these different commodities. The prevailing economic conditions in each region affect the ability and willingness of consumers to spend to expand their wardrobe collections.
However, economic volatility and uncertainty will force consumers to limit their spending on groceries and avoid buying non-essential items. It also encourages them to look for items that are available at discounted prices rather than full prices. In addition, women's clothing marketers face stiff competition from other consumer goods marketers. Therefore, competition with other consumer goods for a share of disposable income is likely to pose a significant challenge to the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Benetton Group Srl: The company offers a wide range of products such as loungewear, jeans, dresses, and accessories. It also offers a loose loungewear tee which is designed to be used for any occasion.
The women's apparel industry analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. Women's tops and dresses will command a major market share in the market. This segment includes blouses, dresses, shirts, T-shirts, sports shirts, tank tops, sweaters, vests, sweatshirts, and work shirts. In recent years, the demand for women's tops and dresses has increased. Women tend to buy dresses that are versatile and multifunctional. Clothes that can be used for both business and private use are popular. Products in this segment are made from cotton, polyester, or blended fabrics. The upper part is characterized by a lower unit price than the lower part.
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The offline segment was valued at USD 577.40 billion in 2018. This segment has the largest share (in terms of sales) of the global market. Demand for tops will be affected by the development of fashion trends. The high demand for dresses is due to their versatility. The dress can be worn both formally and casually, making it more appealing to female buyers. Changes in local fashion trends tend to shorten the change cycle. Therefore, the factors are expected to drive the growth of the offline segment of the market during the forecast period.
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APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. A larger population, rising income levels, changing consumer buying behavior, and changing lifestyles are some of the market drivers in the region. Countries such as China and Japan are popular destinations for international suppliers of women's clothing. Many companies are introducing lower-priced brands to attract price-sensitive consumers in the Asia-Pacific region. The number of working women has increased, and as a result, women can spend more money on goods such as clothing. companies are increasingly customizing their products to accommodate local tastes and consumer preferences. When it comes to women's clothing, the Asia-Pacific market is fragmented. Only a few countries, such as China, India, and Japan, are likely to register significant growth rates during the forecast period due to their increasing population. Hence, such factors are driving the market in APAC during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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In the market, sustainability intertwines with diverse styles and cultural influences, offering everything from ethnic wear to Indo-Western clothes. Various colors, sizes, and designs cater to individual preferences, emphasizing comfortable fabrics like nylon, rayon, and wool. With a focus on environmental impact and consumer confidence, innovative designs and recyclable cloth materials address both warmth and sun prevention across seasons. Promotional activities leverage social media influencer endorsements to reach busy lifestyles through online retail channels and fashion rental services, ensuring accessibility and affordability for millennials and Generation X alike.
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Market Scope |
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Report Coverage |
Details |
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Page number |
179 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.28% |
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Market growth 2024-2028 |
USD 212.8 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.91 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 40% |
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Key countries |
China, US, Japan, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Adidas AG, Aditya Birla Management Corp. Pvt. Ltd., Benetton Group Srl, Burberry Group Plc, Chanel Ltd., Dolce and Gabbana S.r.l., Gianni Versace Srl, Giorgio Armani S.p.A., Hennes and Mauritz AB, Hermes International SA, Industria de Diseno Textil SA, Kering SA, LVMH Group., Nike Inc., Prada Spa, PUMA SE, PVH Corp., Ralph Lauren Corp., The Gap Inc., and UNIQLO India Pvt. Ltd. |
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Market dynamics |
Parent market analysis, Market forecast, 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 market 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 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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