Apparel and Footwear Specialist Retailers in Costa Rica

PROSPECTS

Global sports brands set the pace during 2018

As a result of the globalised media and fashion trends that characterise the apparel and footwear industry, in 2018 there were high rates of brand loyalty for global flagship brands regardless of socioeconomic status. This trend was particularly prevalent among sports-related brands such as Nike, adidas, New Balance and Puma.

Fast fashion brands continue to increase sales

Focusing on middle- and higher-income consumers’ expectations, fast fashion concepts continued to gain momentum in 2018; brands such as Zara, Benetton and Levi’s set the pace. These retailers capitalised on brand recognition among economically-advantaged consumers seeking relatively affordable yet trendy clothing alternatives that could be updated on a yearly basis.

Internet selling platforms anticipated to gain additional momentum by 2023

As a broader base of consumers drive demand for online shopping options, especially in the case of cross border internet retailing sites like Amazon, the popularity of the online channel is anticipated to gain additional relevance over the forecast period. Local retailers, such as Extremos and Arenas Skate and Surf, are expected to increase their attention in e-commerce expansion and invest further in the maintenance of modern e-commerce sites.

COMPETITIVE LANDSCAPE

Fragmentation defines competitive strategies

Fragmentation continued to characterise the competitive dynamics within apparel and footwear specialist retailers in Costa Rica in 2018. The FIFA World Cup set apart international sports brands such as Nike and New Balance, the Costa Rica sponsor, as categorical winners for the year.

Global and regional players anticipated to continue capitalising on brand awareness

Benefiting from historic investment in terms of design, brand awareness and fashion proposals, major global flagship apparel and footwear players are anticipated to continue to capitalise on the broad recognition of their value proposals over the forecast period. Further penetration is expected among lower- and middle-income consumers, who identify with the aspirational lifestyle concepts.

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