The impact of the pandemic on the apparel and footwear industry has been such that market players are now reassessing standard operating procedures in place, from manufacturing to retail, as they need to adapt to new post-pandemic consumer lifestyles (e.g., working from home) retail preferences (e.g., digital-first mindset) or travel patterns (e.g., shifting consumption from European capitals to Chinese duty-free locations).
This report comes in PPT.
The apparel and footwear industry has been among the worst hit by the COVID-19 pandemic, which has disrupted work-life-consumption patterns globally. As the recovery gathers steam, new flexible operating models, targeted incentives for consumers and new product innovation will be critical in ensuring success.
M&A and divestment activity are accelerating as underperforming players become targets, while companies are on the lookout for new routes to market, seeking to digitally transform their operations, or to gain access to growth hotspots. Private equity funds are looking at post-crisis opportunities.
Digitalisation is completely changing the nature of traditional processes, and global sales of apparel and footwear via e- and s-commerce are set to further accelerate as companies invest in their digital transformation to innovate in terms of products and the customer experience, and to optimise their production and distribution.
The apparel and footwear industry is having to fundamentally rethink its supply chains, as the disruptions caused by the COVID-19 crisis and ensuing reputational backlash and shortages lead fashion players to consider a shorter supply chain, closer to end consumers, to mitigate risks.
The global pandemic has highlighted the negative social and environmental impact of the industry, fuelling demand for more sustainable practices, while consumers are rapidly embracing renting and resale, boosting the prospects of new business models beyond ownership.
Apparel is the aggregation of clothing and footwear. This dataset covers retail sales of apparel through both store-based retailers and non-store retailers. Excludes black market sales (i.e. untaxed, generated within informal retailing)and duty free sales (travel retail). Items must be new when sold to the consumer; second-hand/used items are excluded. Antique and/or vintage clothing and footwear is also excluded.
See All of Our DefinitionsIf you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!