Tuesday, June 24, 2014

Growth of the U.S & Global Apparel Industry

Did you know that the Carbon Footprints for apparel products can be analyzed?

Carbon Footprints are the greenhouse gas emissions that are caused by an organization, event, person or a product.

Numerous firms have life-cycle inventory databases for analyzing clothing and accessory products to determine how much carbon dioxide they emit. There are life-cycle assessment software tools to carry out the research faster.

Assessing carbon footprints could be helpful for apparel companies to find turn-key solutions and produce more environment-friendly products. These organizations can also specify carbon labels in their products to make consumers aware of this issue.

The Large and Innovative Apparel Industry

Experiments like the one mentioned above are an integral part of the global apparel industry. These lead to innovation and production of apparel items by adding unique and useful elements.

Not just for people, leading apparel corporations like American Apparel has even launched hoodies for dogs! We can find numerous such instances of creative concepts developed by organizations in an endeavor to reach out to untapped markets.


Apparel Updates – U.S and Global

According to the latest update, the growth of U.S. apparel import has been increasing since March of 2014. The U.S. Department of Commerce has recently released data, which says the total apparel imports amounted to $6.7 billion during March this year. It’s a rise of 9% from March 2013.

The website predicted that the US retail sales will reach $4.732 trillion in 2014, in which the ecommerce sales will be at a greater-than-ever share of the total sales. The retail ecommerce businesses will have a steady and sustained growth.

From a global perspective, the apparel industry is likely to grow at a steady pace. As per the value forecast made by the market research website, the value of this industry will be around $ 1,162.8 billion with a growth rate of 2.2%.

In terms of apparel product segmentation, the market for global children’s wear is expected to go beyond $186 billion in 2014. Out of which, American companies will hold close to 40% of the market share.

In 2014, the global menswear industry is likely to hit beyond the $402 billion mark. Here too, the U.S. companies will have 35% of the total market share.

Finally, for women’s wear, this industry is expected to do maximum business by exceeding $621 billion in 2014. The widespread apparel industry around the globe is fragmented and highly competitive as even local companies are coming up to tap the regional market and establish their niche.

Setting up an apparel business does not require a large capital expenditure. Many individuals run such businesses successfully with a single, independent retail store. Such convenience is accelerating the growth process, especially in countries like India and China, where the average income is much lower than the western countries.

Leading retail stores such as GAP, H&M, Levis and TJX have their outlets in many countries across the world. They are collaborating with the popular local brands to increase their products’ appeal to consumers. The growth process of this industry is expected to continue with innovative and flexible business strategies.

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