GLOBAL CLOTHING AND FOOTWEAR MARKET TO HIT $2 TRILLION BY 2018 26.08.14
ASB Magazine: Global clothing and footwear retail sales are forecast to surpass $2 trillion by 2018, with major impetus from developing economies, ac- cording to a report published by Conlumino. China is forecast to be the largest clothing and footwear market globally, getting ahead of the US, the largest market in 2013. Indonesia is predicted to make an entrance into the top 10 markets, according to the report. Specialist shops are set to remain the largest channel for clothing and footwear sales, however online and discount stores are growing at a faster pace, the Global Clothing and Footwear Retailing, 2013-2018 report forecasts. The report also predicts that changing technology and faster communications will speed up fashion trends. The full re- port provides clothing and footwear data by sub-categories, includ- ing men, women and children. It also highlights the largest and fastest growing markets for the clothing and footwear categories identifying key trends influencing the markets, with an emphasis on retailers across different channels. The report covers the 50 retail markets and includes 24 countries in Europe, 12 countries in Asia-Pacific, nine countries in the Americas, and five countries in the Middle East and Africa. Source: WTIN.