Signs remain negative yet companies and consumers regain trust
It is likely that Spanish players will need to wait another two years before apparel stabilises and consumers recover their purchasing power. The economic crisis changed consumers’ attitudes: Spaniards turned to price-seeking, highly informed about different offers, critical and more demanding for a fair equilibrium between price and quality. On their side, manufacturers responded with lower prices, the launch of basic apparel lines, online sales and attractive marketing campaigns. These strategies appeared to work well for those companies which decided to act with innovation and creativity.
Promotions, outlets and online sales drive consumers' choices
In order to reduce the drop in sales, manufacturers launched massive promotional campaigns, distributed throughout the whole year. Factory outlets and urban outlets became very popular as a way to shift stock. More than the half of the fashion companies present in Spain already opened their own web stores, as well as third-party online retailers and private shopping clubs.
Spanish apparel in phase of remodelling/rethinking
Despite the general negative economic conjuncture, apparel, even if maintaining negative signs, witnessed a marginal slowing of decline due to the virtuous strategies undertaken by players. As result of these last years of sales contraction, companies reorganised themselves and bet on innovative strategies. As a consequence, Spanish apparel completely changed in favour of large low-cost retailers, international brands and with online sales registering outstanding increments.
Spain faces a revolution in distribution channels
Two features defined the new distribution panorama, emerging over the review period: differentiation through multiple channels (physical and online, 24/7 or limited in time) and a concentration of branded stores in the most valuable streets of Spanish cities.
On the other hand, while small and independent multi-brand retailers are slowly disappearing, branded stores (mainly under the formula of franchising) are becoming widespread, conquering the best positions and streets in the Spanish cities.
Pricing relatively stable as consumers seek best deals
In 2012, prices of Spanish apparel were relatively stable compared to prices in 2011, with just a slight decline apparent overall. The price remains a crucial factor in purchasing decisions for customers as they seek value for money alongside the best prices and deals available. There has been a continuation of companies offering more discounts and promotions to stimulate demand.
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Discover the latest market trends and uncover sources of future market growth for the Apparel and Footwear industry in Spain with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Apparel and Footwear industry in Spain, our research will save you time and money while empowering you to make informed, profitable decisions.
The Apparel and Footwear in Spain market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Apparel and Footwear in Spain?
- What are the major brands in Spain?
- How dynamic is the growth of clothing and footwear internet sales?
- What is the performance of women’s clothing vs men’s clothing?
- What % of clothing and footwear sales goes through grocery retailers?
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This industry report originates from Passport, our Clothing and Footwear market research database.