The global apparel industry market generated significant revenue in 2018 with a remarkable CAGR for the last few years. The growth has resulted from the increasing demand from emerging markets. In addition, growth in the e-commerce industry and supportive government regulations on the manufacturing of apparel and clothing drove the global apparel industry. However, the recent outbreak of COVID-19 had a dual impact on the global apparel industry. The novel COVID-19 has impacted the apparel industry in most of the regions including North America, Europe, Asia-Pacific, Rest of the World.
Coronavirus has gradually increased across the globe since it originated in the Wuhan City of China. Many cities all across the globe are in partial or total lock down for preventing the spread of the virus. It has created a negative impact on the apparel industry and caused brands and design houses to close down and postpone upcoming runway shows. Department store including Neiman Marcus, Macy's, Nordstrom, Selfridges, and Saks Fifth Avenue have shut their operations. In addition, major events such as the CFDA Awards and the Met Gala have been postponed indefinitely.
The prominent players studied in the global apparel industry include Nike Inc., Adidas AG, Ralph Lauren Corp., PVH Corp., VF Corp., and The TJX Companies Inc., among others. Due to the outbreak of the coronavirus pandemic, sales and revenue generation of these companies are largely affected as these players had to shut down their stores due to lock down. For instance, effective on March 19, the TJX Companies Inc. closed all of its stores in the US, Canada, Europe, and Australia for two weeks. In addition, the company is closing its online business, distribution centers, and offices. Moreover, after temporarily closing down its corporate headquarters in Beaverton, Oregon, Nike has now closed many of its retail stores across the US due to the coronavirus outbreak. The retail giant announced to shutter all of its stores in the US, Canada, Australia, Western Europe, and New Zealand for limiting the spread of coronavirus.
The study on the apparel industry is incorporated by extensive primary and secondary research conducted by the research team. In secondary research, different approaches have been adopted to derive the market value, market growth rate and analyze trends in the industry due to the COVID-19 pandemic. In the report, the analysis of the country is provided by analyzing various regional players, laws & policies, consumer behavior, macro-economic factors and impact of the pandemic.
Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures. Besides, an expected recovery timeline of the industry will also be provided with the best- and worst-case scenario which will aid the companies to take their future steps in the global industry.
The Report Covers
Comprehensive research methodology of the Global Apparel Industry.
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the Global Apparel Industry.
Insights about market determinants that are stimulating the Global Apparel Industry.
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.
Key Topics Covered:
1. Report Summary 1.1. Research Methods and Tools
2. Market Overview and Insights 2.1. Scope of the Report 2.2. Analyst Insight & Current Market Trends 2.2.1. Key Findings 2.2.2. Recommendations 2.2.3. Conclusion 2.3. Government support/bailout packages for the Apparel industry 2.4. Supply & Demand Analysis
3. Industry Overview 3.1. Historical market growth estimation in Apparel industry excluding COVID-19 pandemic effect 3.2. Deviations in the Apparel industry growth rate due to COVID-19 pandemic
4. Market Segmentation 4.1. By Apparel Type 4.2. By Distribution Channel
5. Regional Analysis 5.1. North America 5.2. Europe 5.3. Asia-Pacific
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