A phenomenal change in the dynamics of the apparel industry is in play and to survive this tide of dramatic changes, apparel companies in the retail sector need to re-structure themselves by 2020. Consumers today are not only looking forward to seeing a whole new level of freshness in the products but also are keen on the whole shopping experience. The global apparel business is exponentially growing and expected to reach double digit by 2020. A majority of this growth is coming from the exploding buying capacity of the consumers who are increasingly viewing clothes as an extension of their personality and an expression of their unique lifestyle. The e-commerce revolution too has a major role to play in the booming growth!
1. Children’s fashion market is at $186 billion
2. Menswear is valued at $402 billion
3. Women’s wear is at $621 billion
Since 2015, major shifts in global consumer buying habits have been noted. The retail industry is being shaped by the rise of online shopping and low prices on high-end fashion products. Even though the apparel industry seems to be flourishing significantly, there is huge pressure on business owners due to the reduced profit margins. But the same time when profits are decreasing, consumer expectations and demands are growing stronger than ever. This disparity between the two has boosted the global wholesale clothing market because purchasing bulk products go a long way in helping retail store owners maintain a decent margin of profit while paying less for procuring the products.
The Internet is where the Money Is
It’s OK to set-up a lavish store in a posh mall or shopping center but the chunk of the target audience is glued to the internet and enjoying internet shopping to the fullest because of the ease and convenience of it. Starting an online clothing store is not that difficult, especially with reputed wholesale clothing distributors USA offering great wholesale package deals on a wide assortment of fashion, fitness and sports clothing and accessories for men and women.
But You Have to be Different…
When we say that starting an online apparel store is not difficult, we really mean it. But it would bring you great business if you can just be distinct from the rest because consumers are always on the lookout for something fresh and new. Wholesale clothing manufacturers USA not only offer a wide plethora of ready-made garments to choose from but also provide custom and private label manufacturing services that allow you to think out of the box, create your own private label clothing brand and eventually, have a separate niche for yourself.
Internet sales has risen to about 23% last year and it is expected to rise at an even greater pace in 2016. If you are an apparel retail store owner and still haven’t woken up to the fact that it is time to re-structure your business model, you might be in for a rude shock.