The Latest Apparel Industry Statistics That You Should Know About

If you have ever thought about starting a fashion brand, now may be a great time. Most Americans even consider themselves stylish and use shopping as a form of self-care.

But are there enough fashion consumers? There are so many consumers who consider themselves stylish.

Do you need to launch a clothing line? Consider looking at apparel industry statistics. If you are wondering what the latest apparel industry statistics are, you need to look here. Let’s dig in!

Apparel Sales By Region

The apparel industry is one of the largest and most important in the world. It’s critical to stay up to date on the latest trends and developments in the apparel industry.

According to recent research, apparel sales by region increased by 1.5% between 2017 and 2018, with increases in North America, Asia, and Europe.

In addition, apparel sales have grown 6% in the United States alone, with the majority of those sales coming from internet sales. Furthermore, the global apparel market is growing, with an estimated value of over $2 trillion.

These statistics show how consumers are becoming more aware of the trends in apparel and how more global brands are emerging in the industry.

By understanding these statistics and staying informed, businesses in the industry can make wise business decisions and remain competitive in the market.

Activewear & Athleisure

Activewear & Athleisure reported the highest growth rate of 9.5% among all subsectors of the fashion industry in 2019, compared to only 5.4% for other apparel items.

Furthermore, the athleisure segment is expected to see an additional 9.2% growth in 2020 as consumer demand increases for comfortable, fashionable items.

Also, Viking pants have seen a most affordable fashion and an 11% increase in online sales, with more customers opting for online purchasing options.

Digital Transformation

More than 81% of shoppers are now researching products online before making an in-store purchase.

Similarly, over 80% of apparel companies have adopted a digital-first strategy, with the majority of those companies believing that technology can help them improve customer relationships, increase sales, and reduce costs.

As we move further into the digital age, these helpful statistics demonstrate both the potential and the necessity of transformation for apparel companies.

Production Costs

Currently, apparel production costs make up around 44 percent of total apparel costs, with raw materials accounting for 68 percent and labor costs accounting for 32 percent.

On the bright side, many apparel companies have responded to rising production costs by developing innovative supply chain models and optimizing their manufacturing processes, leading to cost savings and increased efficiency.

As a result, they can remain competitive while still providing consumers with the products they desire.

A Guide to the Latest Apparel Industry Statistics Today

Learning the latest industry statistics can give businesses and entrepreneurs insight into how the sector is trending, so they can make smart decisions moving forward.

Be sure to take advantage of the resources available to stay up-to-date on the apparel industry, and capitalize on opportunities presented by these trends.

So what are you waiting for? Get started today!

Did you find this article helpful? Check out the rest of our blogs!