Spain has achieved worldwide recognition for the creation of innovative business models based on fast fashion, in which the country is considered a global leader. This recognition is mainly due to pioneering companies such as Inditex and Mango, which have been able to adapt to the market and the changing demands of consumers with greater speed.
In the era of hyperinformation and greater awareness, consumers being able to buy when, where and how they want is quickly turning in one of the new rules of the market, and omnichannel has become the new standard. Adapting to the needs of consumers, especially the younger generations, companies see the importance of having a presence not only in stores, but also online, where generation Z spend most of their time.
Consumption patterns are no longer based on criteria such as age, sex and income level. People of all ages in all markets feel more liberated to break with former conventions and build their own lifestyles and identities.
Inditex was by far the most important player in apparel and footwear specialist retailers in Spain in value terms in 2018. However, Primark Tiendas ranked second and continued to show strong growth.
Koker is a young Spanish company which was founded in 2016 with the premise of low prices, such as Primark and H&M, and fast fashion, such as Zara. The company has opted to expand its network both nationally and internationally, and now has 40 outlets in six countries in Europe and on the American continent.
Mango is investing strongly in online sales, which the company believes will be one of the main growth drivers in the coming years. In particular, Mango is investing in the development of mobile apps, as mobile sales are expected to drive internet retailing in the near future.
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This industry report originates from Passport, our Retailing market research database.