5 Top Apparel Industry Trends in 2017

Powerful forces are turning the retail apparel industry upside down.

“The retail apparel business has always been tough,” said Jack W. Plunkett, CEO of Plunkett Research Ltd, in a video on the topic. “But it’s become much worse, frankly, in recent years.”

Topics: Apparel Industry Insights

US Jewelry Spending Rises as More Consumers “Put a Ring on It”

For many people, marriage is a blessed arrangement, a dream within a dream...

For the jewelry industry, it’s a major driver of sales.

According to some estimates, 95% of couples exchange rings along with marriage vows, and the “gold standard” for the majority of US brides is a ring encrusted with at least one diamond.  

Thus, US personal consumption expenditures (in nominal terms) on jewelry are expected to advance 3.1% annually to 2020 as the number of new marriages continues to grow.  

Topics: Retail Apparel Industry Insights The Freedonia Group

The Footwear Industry: A Bright Spot in Apparel

Macy’s stock plunged 47 percent in the last year. Gap, Nordstrom, and Kohl’s also reported a drop in sales. What’s causing the slump? According to Business Insider, “Executives from nearly every company blamed a spending pullback in one common category for the declines: apparel.”

Although many consumers are reluctant to purchase new clothes, footwear is a different story. Footwear has outpaced apparel, growing at a compound annual growth rate (CAGR) of 6 percent over 2010-2015 in comparison to 4 percent for apparel, according to a report by Euromonitor

Topics: Retail Apparel Industry Insights

The Market for Smart Clothing and Textiles

In 2015, the market experienced a stampede of wearable devices. Consumers had access to some of the newest tech devices that were able to track movement, heartbeats, location, and more. However, many consumers found that these wearables came up short. Costs were high, and expectations for accuracy were not always met. Wearable devices held a 30 percent return rate and high product abandonment after six months.

This doesn’t mean consumers should give up hope. Although our main introduction to wearables has consisted of watches and wristbands, the future is looking even bigger, and is more focused on smart textiles and clothing.

Topics: Apparel Consumer Electronics Industry Insights

Publisher Spotlight: Q&A with Aroq

Through Profound, users can access the world’s leading business intelligence providers in one convenient platform. With more than 200 publishers across 700 industry sectors, Profound offers a vast array of market research reports to choose from.

In this new blog series, we’ll give you an inside look at specific publishers on Profound. You'll have the opportunity to learn more about the reports they publish and what differentiates them from other publishers on the market.

Today, we’re interviewing Aroq, publisher of just-auto, just-drinks, just-food, and just-style — a publisher that provides timely news, analysis, and market intelligence. Find out more in the Q&A below.

Topics: Food & Beverage Profound Apparel Market Research Provider

Wearable Technology in Sports/Fitness, Healthcare, and Clothing Industries

Mind Commerce sees Sports and Fitness, Healthcare, and Clothing as key markets for the early success of wearable technology. Among these three segments, Sports and Fitness is the most promising segment for wearable consumption. The segment comprises various products out of which wrist bands, wrist watches, and headgears will dominate the segment. In addition, most products in this segment will be associated with measurement and monitoring fitness and performance and will be used by both amateurs and professionals.

Topics: Computer Hardware & Networking Apparel Consumer Electronics Telecommunications & Wireless Medical Devices Knowledge Centers Big Data

Sensor Technology, Smart Apparel See Bright Future

The development of sensor technology has launched many different technology devices in the past decade. From FitBits to iWatches, the technology we see in these small devices is, simply put, incredible. As the technology becomes more accessible, we are seeing more and more industries getting involved with not just smart wearable devices, but smart apparel.

Topics: Retail Apparel Consumer Electronics Telecommunications & Wireless

Clothing Merchants to Maximize Seamless Shopping Experience Through Online-Offline Approach

Rivaling consumer electronics, clothing has become one of the most purchased physical products online in recent years. Clothing was also the leading category in global cross-border B2C E-Commerce in 2014, accounting for over a third of all cross-border online purchases. In China and Japan, online mass merchants and marketplaces have become the most popular platforms for consumers to purchase clothing. In Europe, clothing has been the leading category by share of online shoppers in countries such as the UK, Germany, Russia, Italy and Turkey. Clothing merchants stand to benefit from adoption of current market trends, including but not limited to: M-Commerce, Omnichannel and Cross-Border B2C E-Commerce. Those merchants currently operating purely online or predominantly store-based could seek to adopt these strategies in an effort to gain a share in the booming online clothing market.

Topics: E-commerce & IT Outsourcing Apparel Telecommunications & Wireless Business Services & Administration

Luxury Brands' Evolving Story: Top Trends Shaping the Luxury Consumer Market in 2015

Unity Marketing's look at the five most important trends for marketers targeting the U.S. affluent customer in 2015

In recent blogs, we’ve explored the top trends shaping the luxury consumer market in 2015.  The overriding trend that will impact all marketers at the high-end is a mood of austerity. Despite the newly revised and remarkably strong GDP growth of 5% in third quarter 2014 and the stock market topping 18,000 at year end, American affluent consumers are holding tight to their monetary gains. They are choosing to save and invest to grow even more wealth, rather than spend it on luxury indulgences. Affluent austerity doesn't mean they have given up shopping, but they are applying new more demanding standards to the purchases they make. They are getting back to basics with a taste for simplicity and view toward getting more value for less. 

Topics: Apparel Demographics Marketing

How to Use Market Research to Launch Your Clothing Line

Before launching any business, it’s imperative you do your research. According to Bloomberg, 8 out of 10 entrepreneurs who start small businesses fail within the first 18 months, a vast 80% don’t succeed. So, if you want to be a part of that successful 20%, you have to put together your SWOT (strengths, weaknesses, opportunities and threats) analysis, business plan, and marketing plan – none of which can be done without reliable and professional market research.

Topics: Academic Market Research Strategy Apparel How To's