Apparel and footwear registered a recovery, after suffering a slight decline in constant value sales in 2020, due to closure of outlets during the height of the pandemic. However, the pandemic did not have as a severe an impact as for many of its neighbouring countries.
In 2021, Turkish international chain LC Waikiki retained its lead, after taking the lead from H&M Hennes & Mauritz AB in 2018. LC Waikiki arrived in the country in 2015, when it opened two outlets, growing to 26 outlets in 2021, and has continued its expansion strategy since.
An increasing number pf players within apparel and footwear are offering loyalty cards. While loyalty cards are already popular within modern grocery retailers, it is a relatively novel concept within apparel and footwear.
Apparel and footwear will register moderate constant value growth over the forecast period. Growth is not expected to be as high as over the review period, as the economic toll of COVID-19, along with inflation, leads to lower disposable incomes.
There has been a significant increase in the number of apparel and footwear specialist retailers which offer the option to purchase their goods online. Some retailers even offer e-commerce only deals, where discounts on ranges are only applied when purchased through the e-commerce platform.
While small independent owners still account for significant value share in Serbia, the landscape will become more consolidated over the forecast period, with the larger global players gaining further value share. With inflation expected to rise over the forecast period, due to factors such as rising energy costs and continuing global supply disruption, consumers will be price sensitive.
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Understand the latest market trends and future growth opportunities for the Apparel and Footwear Specialists industry in Serbia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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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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