Value sales at apparel and footwear specialist retailers were negatively affected in 2020 by the pandemic as consumers worked and studied remotely from home, reducing the need for new apparel and footwear. On the other hand, apparel and footwear specialist retailers registered robust retail value sales growth in 2021, as quarantine restrictions eased and consumers partly returned to their workplaces, such as horeca and offices.
There was a growing number of e-commerce apparel and footwear platforms in Lithuania in 2021, which created competition to store-based apparel and footwear specialist retailers. While digitalisation is on the rise and consumers started returning to their hectic lifestyles, consumers adopted new ways of shopping.
During the last quarter of 2021 the biggest outlet shopping centre in north Europe was opened in Vilnius, which include a variety of apparel and footwear specialist retailers. Outlets were already a growing trend during the review period as many consumers seek quality apparel and footwear at affordable prices.
Apparel and footwear specialist retailers are expected to register retail value sales growth (at constant 2021 prices) during the forecast period, but sales growth will decelerate and is anticipated to be sluggish from 2024. Furthermore, retail value sales are not likely to recover to pre-pandemic retail value sales levels by the end of the forecast period.
Merchants are likely to develop and refine their e-commerce capabilities during the forecast period as e-commerce retail value sales increase. Footwear specialist retailers, in particular, are recognising the rise of e-commerce and the impact it is having on their sales figures.
More brick-and-mortar stores are anticipated to become display stores during the forecast period. Players are likely to prefer smaller outlets that need less storage space to assist owners in cutting down on expenses when strengthening their e-commerce capabilities.
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Apparel and footwear specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: clothing, footwear, and/or fashion accessories (costume jewellery, sunglasses, belts, hats, gloves, handbags, scarves, etc.). Apparel specialists include specialty apparel like wedding dress shops. Example brands include Primark, TJ Maxx, and Zara. Sportswear retailers, such as Adidas and Nike, are excluded from this channel and are included in Sports Goods Stores; this is due to the companies considering themselves sports companies as opposed to apparel companies.See All of Our Definitions
This report originates from Passport, our Apparel and Footwear Specialists research and analysis database.
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