The clothing & clothing accessories stores subsector is a part of the retail trade sector which retails new clothing and clothing accessories merchandise from fixed point-of-sale locations. It involves enterprises primarily engaged in retailing single or combination lines of new clothing accessories, for instance hats & caps, gloves, costume jewelry, handbags, ties, toupees, wigs, and belts.
According to study, “Clothing And Clothing Accessories Stores Global Market Report 2019” the key companies operating in the global clothing and clothing accessories stores market are Abercrombie & Fitch Co., The Buckle Inc., American Eagle Outfitters Inc., Carter’s Inc., Chico’s FAS Inc., Intimate Brands Holdings Inc., Claires Boutiques Inc., Arcadia Group’s Topshop, Inditex’s Zara chain, Adidas AG, Nike, Inc., LVMH Moet Hennessy Louis Vuitton S.E, Safilo Group S.p.A., Fielmann A.G., Tapestry, Inc., Luxottica Group S.p.A, Gucci America, Inc., Fossil Group, Inc., Chanel S.A., Prada S.p.A., Burberry Group Plc. Catherines Inc., Gilt Groupe Holdings Inc., Vince Holding Corp., Charming Charlie Holdings Inc., Tory Burch LLC, Chanel Inc. Primark, TK Maxx, Asda, Tesco, New Look, Next, Sainsbury’s, H&M, Lidl, Matalan, John Lewis, Aldi, Marks & Spencer, ASOS. Large companies offer wide selections of clothing and have compensation in purchasing, distribution, and marketing while small stores compete by offering unique merchandise, providing superior customer service, targeting a specific demographic, or serving a local market
Based on type, global clothing and clothing accessories stores market is segmented into wig & hairpiece stores, department stores, costume jewelry stores, used goods stores, lingerie, swimwear, uniform & bridal stores, e-commerce & online auctions and neckwear stores. Based on product, market is segmented into belts & bandoliers, scarves, shawls, veils, mufflers and mantillas, handkerchiefs, ties & bow ties and other clothing accessories. Based on accessories types, market is segmented into buttons, zippers, and others. Based on distribution channel, market is segmented into online accessory stores and offline accessory stores. Based on application, market is segmented into uniform, sportswear, daydress, formal dress and others. In addition, based on end-user, market is segmented into men, women and kids or infants.
The clothing and clothing accessories stores market is driven by rise in consumer preference towards high quality & branded fashion accessories, followed by improvement in digital marketing & rise in use of digital media in developing economies, increase in population & rise in disposable income, increase in consumer investments in retail distribution, and rise in availability of a variety of products. However, growth in competition and trade restrictions between countries may impact the market. In addition, increase in offline-stores is a key trend for market.
Based on geography, the Asian-Pacific region holds major share in clothing and clothing accessories stores market owing to increase in penetration of designer clothing in some countries such as India. Western European region is expected to witness higher growth rate due to presence of several multinational manufacturing companies over the forecast period. Continuous improvement in distribution strategy by key manufacturers especially in distribution structure, inventory turns, available resources, and order filling technique are expected to impel the market growth during the forecast period.
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Ankur Gupta, Head Marketing & Communications