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Strategy Briefing

Consumer Trends Shaping the Designer Apparel and Footwear Industry

41 pages, Mar 2018

US$1,325

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About This Report

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Designer apparel and footwear, like the entire luxury industry, is facing a challenging time as globally consumer preferences shift from ‘owning’ to ‘being’, and technologies reinvent the way people consume fashion and engage with brands. This may seem to pose an immediate threat for designer brands, but can also create an opportunity for them to redefine luxury around personalisation, experiences and quality, while leveraging omnichannel strategies to better engage with consumers.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

World sales bounce back after a difficult 2016

Worth over US$123 billion in retail value sales, designer apparel and footwear saw 0.1% value growth in 2017, thanks to the return of foreign tourists to some terror-hit European destinations, Chinese consumers buying both abroad and at home, and strengthening demand, combined with positive currency effects in key markets such as Japan and South Korea. However the US, the world’s largest luxury goods market, remains a question mark, negatively impacted by a strong US dollar, a cull on travel flows and more profoundly by American millennials moving away from traditional luxury brands.

China dominates international expenditure, and global price disparities cement Europe as an international shopping hub

International expenditure on designer apparel and footwear and the luxury industry in general, is largely dominated by Chinese consumers and global price disparities cement Europe as a key shopping destination for Asian travellers. This gives international luxury brands an opportunity to maximise sales in various parts of the world, by playing on product ranges and prices.

It is all about experiences, personalisation and omni-channel

As consumer preferences shift from ‘owning’ to ‘being’, the paradigms are shifting in terms of the way people consume fashion and engage with brands. In that context, omni-channel strategies have become a must, and brands are working on offering consumers more personalisation across channels, and will increasingly experiment with new technologies such as VR or 3D printing.

Sportswear, leather bags and footwear offer key growth opportunities

Designer brands are set to develop more sports-inspired designs to take advantage of the proliferation of athleisure, and consumers’ aspirations for healthy living. Designer brands are also expected to continue developing their range of accessories and footwear as fast-fashion-driven consumers increasingly choose luxury accessories over clothing.

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Introduction

Scope

Key findings

Global Overview

Designer apparel and footwear: bouncing back after difficult 2016

Cross-border expenditure is an important driver…

…largely dominated by China

Global price disparities cement Europe as the world’s shopping hub

Millennials are becoming the core target for luxury and fashion

Affordable luxury provides first taste of luxury in emerging markets…

…and is driven by consumers’ search for value globally

Regional Perspective

Western Europe remains largest region, but Asia drives growth

Western Europe bounces back…

…but is still marked by uncertainty

Japan, South Korea and China drive growth in Asia Pacific…

…but India, Indonesia, and Malaysia are key growth markets

Headwinds for designer apparel and footwear in North America

Mixed results in Eastern Europe and Middle East and Africa

Australia and Mexico boost growth in their respective regions

Global Shifts in Consumer Behaviour and Technologies

Consumer preferences shift from ‘owning’ to ‘being’

Consumers’ shifting preferences redefine global commerce

Designer brands finally join digital party

Omnichannel distribution strategies become a must

Nothing compares to the in-store experience

It’s all about personalisation: from bespoke products…

…to unprecedented level of customer insight

VR and AR could cause major disruption in future

Opportunities by Category

Women remain the cornerstone of designerwear and footwear

Sportswear continues stretching share of wallet

More image-conscious men set to spend more on high-end fashion

The mini-me trend fuels global hype around designer childrenswear

…but demand remains concentrated in three core markets

Leather goods: A key revenue stream for designer brands…

…and a core product for affordable luxury players

Footwear: the next hottest thing?

Key Recommendations

Diversify, customise, collaborate and experiment with technologies

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Megatrends

Strategy Briefing

Consumer Trends Shaping the Designer Apparel and Footwear Industry

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

World sales bounce back after a difficult 2016

China dominates international expenditure, and global price disparities cement Europe as an international shopping hub

It is all about experiences, personalisation and omni-channel

Sportswear, leather bags and footwear offer key growth opportunities

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Global Overview

Designer apparel and footwear: bouncing back after difficult 2016

Cross-border expenditure is an important driver…

…largely dominated by China

Global price disparities cement Europe as the world’s shopping hub

Millennials are becoming the core target for luxury and fashion

Affordable luxury provides first taste of luxury in emerging markets…

…and is driven by consumers’ search for value globally

Regional Perspective

Western Europe remains largest region, but Asia drives growth

Western Europe bounces back…

…but is still marked by uncertainty

Japan, South Korea and China drive growth in Asia Pacific…

…but India, Indonesia, and Malaysia are key growth markets

Headwinds for designer apparel and footwear in North America

Mixed results in Eastern Europe and Middle East and Africa

Australia and Mexico boost growth in their respective regions

Global Shifts in Consumer Behaviour and Technologies

Consumer preferences shift from ‘owning’ to ‘being’

Consumers’ shifting preferences redefine global commerce

Designer brands finally join digital party

Omnichannel distribution strategies become a must

Nothing compares to the in-store experience

It’s all about personalisation: from bespoke products…

…to unprecedented level of customer insight

VR and AR could cause major disruption in future

Opportunities by Category

Women remain the cornerstone of designerwear and footwear

Sportswear continues stretching share of wallet

More image-conscious men set to spend more on high-end fashion

The mini-me trend fuels global hype around designer childrenswear

…but demand remains concentrated in three core markets

Leather goods: A key revenue stream for designer brands…

…and a core product for affordable luxury players

Footwear: the next hottest thing?

Key Recommendations

Diversify, customise, collaborate and experiment with technologies

Why buy this report?

Want to find out more about this report?

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