The number of outlets of apparel and footwear specialist retailers continued growing in 2018, as most fast fashion brands continued to invest in opening stores in new shopping centres. Whilst in many other countries shopping centres and fashion retailers are closing due to the decline of traffic in stores, Mexicans still prefer to visit bricks-and-mortar stores.
The main competitors within apparel and footwear specialist retailers have confirmed moderate investment in the opening of new outlets over the forecast period, which will lead to continued sales growth. One possible threat to their expansion plans could be an increase in the exchange rate of the Mexican peso against the US dollar, which might lead companies to slow down their investment.
Although most apparel and footwear specialist retailers have online stores, their sales through this channel still represent a small proportion of their total sales, meaning that the shopping habits of Mexican consumers are changing only gradually, and not as rapidly as in other countries. However, it is important to at least have a website where consumers can find information about the collections or models available, because consumers prefer to search online before going to a store.
By the end of the review period Coppel operated 445 Coppel Canada footwear outlets, with a presence across the country. Coppel’s core business is mid-priced and affordable footwear for all ages, and consumers can pay by instalments or with the store cards or credit cards issued by Coppel and BanCoppel.
Mexico is the most important market within Latin America and the fifth globally for Inditex, Industria de Diseño Textil, and despite the uncertainty during the year, all the company’s brands saw positive performances in 2018, helping Mexico to remain its leading Latin American country. The brands that opened the most stores were Bershka, Stradivarius and Lefties, which can in part be explained because Stradivarius and Lefties were the latest arrivals, but also due to their attractive designs and affordable prices.
One of the latest trends amongst most retailers is to invest almost the same in their online stores as bricks-and-mortar stores, given that consumers are migrating to online shopping. Forever 21 is investing in both new physical stores and its online store.
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This industry report originates from Passport, our Retailing market research database.