Clothing And Footwear in the US
Euromonitor International's Clothing And Footwear in the US market report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments, packaging innovations, economic/lifestyle influences, distribution or pricing issues. Forecasts illustrate how the market is set to change.
Tables: 55 | Publication date: Sep 2009
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Executive summary
Clothing and Footwear impacted by the recession
The key trend impacting clothing and footwear sales in the US in 2008 was the impact of recession on the US. Many consumers stopped shopping or were looking for deep discounts. During 2008, the housing market collapsed, unemployment started to rise significantly and consumer confidence fell dramatically. The downturn of the clothing and footwear industry was being exacerbated by uninspired fashions in stores. The lack of pressure to conform to one particular style meant that women did not feel they had to update their wardrobes..
Consumers unwilling to pay full price
After seeing good growth in 2007, consumers were largely unwilling to pay full price for products, and retailers obliged by continuing to offer sales. Despite prolonged sales, US retailers continue to struggle with weak sales. Retailers are becoming very anxious about how rampant discounts in the last six months have affected shoppers' psyches and their overall expectations.
Americans are looking to dress up
The "dressing up" trend fuelled sales growth in dresses and skirts and men’s suits. Dresses are becoming almost a uniform for women whereas men are ditching casualwear for a more polished look. The emphasis for young females in dresses is to reveal as much flesh as possible, whereas the shape for the older market is to emphasise female curves or to hide the female shape altogether.
Despite their relatively high prices, suits are again becoming something of a necessity. With unemployment rates climbing, consumers are worried about their job prospects. As a result, men are ditching the casual Friday look for dressier apparel. Men, particularly younger ones, wish to look employable and to ensure they hang on to their jobs are donning suits and ties.
Traditional Players Face New Competition
Both manufacturers and retailers are facing new competitive threats in the US market. Throughout the early part of the decade, traditional players like department stores lost share to mass merchandisers such as Wal-Mart and Target. While both are still significant players in the US clothing and footwear market, the past few years saw a rise in popularity of specialty retailers (such as H&M, Zara and Forever 21) that offer more fashionable clothing at low prices. The success of these retailers offering products under their own brand names also cut into sales of traditional own-branded retailers like Gap, and of manufacturers who sell their brands through non-specialty retail channels. In part due to these changing trends in the market, retailers are experimenting with merchandise mix and retail formats to offer a new buying proposition to consumers.
Brighter futures ahead
Sales of clothings are expected to be strong over the forecast period as people start to recover their financial stability. Manufacturers and retailers are expected to reduce their level of discount and increase their prices to a pre-recession level. They are also expected to focus their efforts on meeting the needs of women aged 35+, who have healthy disposable incomes but are increasingly dissatisfied with the fashions available to them.
Table of contents
CLOTHING AND FOOTWEAR IN THE US : MARKET INSIGHT
EXECUTIVE SUMMARY
Clothing and Footwear impacted by the recession
Consumers unwilling to pay full price
Americans are looking to dress up
Traditional Players Face New Competition
Brighter futures ahead
KEY TRENDS AND DEVELOPMENTS
The global financial crisis: America suffers economic fall-out but hope for 2010
The plus-size market
Companies looking to green up with Corporate Social Responsibility
Men becoming shopaholic?
Discounting - a double edged sword
Online retailing going strong
MARKET DATA
Table 1 Sales of Clothing and Footwear by Sector: Volume 2003-2008
Table 2 Sales of Clothing and Footwear by Sector: Value 2003-2008
Table 3 Sales of Clothing and Footwear by Sector: % Volume Growth 2003-2008
Table 4 Sales of Clothing and Footwear by Sector: % Value Growth 2003-2008
Table 5 Clothing and Footwear Company Shares 2004-2008
Table 6 Clothing and Footwear Brand Shares 2005-2008
Table 7 Sales of Clothing and Footwear by Distribution Format: % Analysis 2003-2008
Table 8 Forecast Sales of Clothing and Footwear by Sector: Volume 2008-2013
Table 9 Forecast Sales of Clothing and Footwear by Sector: Value 2008-2013
Table 10 Forecast Sales of Clothing and Footwear by Sector: % Volume Growth 2008-2013
Table 11 Forecast Sales of Clothing and Footwear by Sector: % Value Growth 2008-2013
DEFINITIONS
Summary 1 Research Sources
LOCAL COMPANY PROFILES - USA
ABERCROMBIE & FITCH CO - CLOTHING AND FOOTWEAR - USA
STRATEGIC DIRECTION
KEY FACTS
Summary 2 Abercrombie & Fitch Co: Key Facts
Summary 3 Abercrombie & Fitch Co: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 4 Abercrombie & Fitch Co: Competitive Position 2008
BROWN SHOE CO INC - CLOTHING AND FOOTWEAR - USA
STRATEGIC DIRECTION
KEY FACTS
Summary 5 Brown Shoe Co: Key Facts
Summary 6 Brown Shoe Co: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 7 Brown Shoe Co: Competitive Position 2008
GAP INC, THE - CLOTHING AND FOOTWEAR - USA
STRATEGIC DIRECTION
KEY FACTS
Summary 8 Gap Inc: Key Facts
Summary 9 Gap Inc: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 10 Gap Inc: Competitive Position 2008
JONES APPAREL GROUP - CLOTHING AND FOOTWEAR - USA
STRATEGIC DIRECTION
KEY FACTS
Summary 11 Jones Apparel Group: Key Facts
Summary 12 Jones Apparel Group: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 13 Jones Apparel Group: Competitive Position 2008
VF CORP - CLOTHING AND FOOTWEAR - USA
STRATEGIC DIRECTION
KEY FACTS
Summary 14 VF Corp: Key Facts
Summary 15 VF Corp: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 16 VF Corp: Competitive Position 2008
CLOTHING IN THE US
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 17 New Product Launches 2007- 2008
SECTOR DATA
Table 12 Sales of Clothing by Subsector: Volume 2003-2008
Table 13 Sales of Clothing by Subsector: Value 2003-2008
Table 14 Sales of Clothing by Subsector: % Volume Growth 2003-2008
Table 15 Sales of Clothing by Subsector: % Value Growth 2003-2008
Table 16 Sales of Men’s Outerwear by Type 2003-2008
Table 17 Sales of Women’s Outerwear by Type 2003-2008
Table 18 Sales of Childrenswear by Type 2003-2008
Table 19 Clothing Company Shares 2004-2008
Table 20 Clothing Brand Shares 2005-2008
Table 21 Sales of Clothing by Distribution Format: % Analysis 2003-2008
Table 22 Forecast Sales of Clothing by Subsector: Volume 2008-2013
Table 23 Forecast Sales of Clothing by Subsector: Value 2008-2013
Table 24 Forecast Sales of Clothing by Subsector: % Volume Growth 2008-2013
Table 25 Forecast Sales of Clothing by Subsector: % Value Growth 2008-2013
FOOTWEAR IN THE US
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 18 New Product Launches 2007- 2008
SECTOR DATA
Table 26 Sales of Footwear by Subsector: Volume 2003-2008
Table 27 Sales of Footwear by Subsector: Value 2003-2008
Table 28 Sales of Footwear by Subsector: % Volume Growth 2003-2008
Table 29 Sales of Footwear by Subsector: % Value Growth 2003-2008
Table 30 Sales of Footwear by Type 2003-2008
Table 31 Footwear Company Shares 2004-2008
Table 32 Footwear Brand Shares 2005-2008
Table 33 Sales of Footwear by Distribution Format: % Analysis 2003-2008
Table 34 Forecast Sales of Footwear by Subsector: Volume 2008-2013
Table 35 Forecast Sales of Footwear by Subsector: Value 2008-2013
Table 36 Forecast Sales of Footwear by Subsector: % Volume Growth 2008-2013
Table 37 Forecast Sales of Footwear by Subsector: % Value Growth 2008-2013