While e-commerce boomed during the worst of the pandemic, in 2022 consumers were keen to return to stores to see, feel, touch and try on products they considered buying. Apparel and footwear e-commerce therefore turned to decline in 2022, although e-commerce remained a key channel for sales of apparel and footwear.
The performance of apparel and footwear specialists is not only expected to be threatened by e-commerce and weak profitability in city centre locations in the forecast period. An important part of shopping for apparel and footwear by Finns takes place in other store-based channels – notably hypermarkets (especially Prisma and K-Citymarket), variety stores (notably Tokmanni), and department stores (notably Stockmann and Sokos), as well as sports goods stores for sportswear.
While fast fashion is often much criticised for not being sustainable, most Finns still pay little attention (except in words) to the sustainability or ethical values of the apparel and footwear they buy, despite many players reporting on their sustainability efforts. Nevertheless, an interesting trend in the review period, and likely to strengthen in the forecast period, is the rise of second-hand stores, such as those from The Salvation Army and other charity shops, such as Fida and UFF (classified under other non-grocery specialists).
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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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