Over the forecast period, brands in apparel and footwear specialist retailers will continue to face intense price competition. Competition will not only stem from internet retailers, but also from big box retailers such as EziBuy, Kmart and The Warehouse, which offer a wide range of apparel and footwear at affordable prices.
The intense price competition in New Zealand has led to the exit of several well-established brands. Global brand Esprit, for example, exited the market in 2018, citing intense price competition.
Sales of apparel and footwear through online and mobile platforms are expected to increase over the forecast period, driven by New Zealand’s digitally-savvy consumer base. More and more consumers are expected to browse and shop for products online, due to the availability of a wide range of products and the convenience of shopping from home and on-the-go.
In 2018, Cotton On Clothing (New Zealand) continued to lead apparel and footwear specialist retailers in value terms, ahead of Hallenstein Glasson Holdings, Premier Investments and Hellaby Holdings. The company’s lead can be attributed to the strong performance of its brands Cotton On and Supré, both of which experienced strong growth in 2018.
Similar to 2017, Swedish fast fashion brand H&M continued to see the fastest value growth in 2018. H&M’s positive performance can be attributed to its wide product portfolio.
International fast fashion brand Zara launched its New Zealand website in March 2018. As Zara only has one physical store in New Zealand, the brand’s online store allows it to reach consumers living outside Auckland.
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This industry report originates from Passport, our Retailing market research database.