Impact of Coronavirus (COVID-19) on the Global Apparel Industry
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This report provides an overview on the impact of Covid-19 on Global Apparel Market, key retailers and shopping behaviours which include year-on-year growth of the apparel market globally, top ten apprel markets and top 10 worst hit markets globally etc..
GlobalData forecasts that COVID-19 will wipe US$297bn from the global apparel market in 2020 – a 15.2% decline on 2019. The 10 worst impacted markets, in terms of value, will represent 85.0% of this total loss, with mature markets suffering the hardest – the US will account for 42% of all lost spend, which will contribute to yet more major retail chains filing for Chapter 11.
Scope
– Brands can gain consumer trust by engaging with them and adopting safety measures
– Consumers are increasingly receptive to how the world is changing around them
– Consumers exhibit extreme concerns over the global economic situation
– Preferences for credit card payments have gradually increased throughout the past 10 weeks
– Appeal of contactless convenient payments suggest e-commerce will continue to become entrenched consumer behavior
– Apparel retailers must leverage technology to offer store like shopping experience on websites to encourage customers to shop online
Reasons to Buy
– Gain a comprehensive view of the Apparel market and forecasts to 2024
– Explore new opportunities that will allow you to align your product offerings and strategies to meet demand following the impact of Covid-19 on the apparel market
– Investigate current and forecast trends in Apparel to identify the opportunities offering the most potential
– Understand who the main competitors are in the market and their price positioning
Amazon
JD.Com
Nike. Inc
ABF
Primark
Macy’s
The Gap Inc
Target Corp.
Fast Retailing
H&M
Inditex
Kohl’s Corp
Ross Stores
Nordstrom
LVMH
Kering
JC Penney
The TJX Companies
Zalando
Adidas
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