The apparel and footwear industry was on the road to recovery in 2018, recording stronger value growth than in 2017. Sportswear was the star performer in terms of the strongest growth, and womenswear retained its position as the largest category in terms of dollar value.
Companies are trying to incorporate sustainability throughout the entire value chain, ranging from sourcing to supplying, in order to become more ethical. The fashion industry is one of the biggest contributors to water and waste pollution.
2018 saw many international players closing down their operations in Australia, including Gap and Esprit, while others such as Topshop and Forever 21 continue to struggle. Similarly, due to increased competition from international giants and pure online players and increased rental costs, companies such as Roger David and Metalicus were forced into administration.
With consumers’ adoption of digital platforms and raised expectations of convenience, online retailing is projected to grow. Pure e-commerce companies, such as The Iconic, have raised the bar for other fashion companies to improve their overall online experience, simply by providing next day deliveries, while Showpo has led the way in terms of its efforts to personalise its services.
Incorporation of artificial intelligence (AI) in industries like fast fashion is becoming increasingly important due to the fast-paced nature of the industry and rapidly changing consumer tastes. Australian companies are responding; for example, e-commerce player Showpo incorporated artificial intelligence to increase its conversion rates, retain customers and use behavioural data to make personalised recommendations.
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Discover the latest market trends and uncover sources of future market growth for the Apparel and Footwear industry in Australia with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Clothing and Footwear market research database.