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Fast Fashion Retail Market By Gender (Women's Wear,Men's Wear) By Age (Adults Wear, Teens Wear, Kids Wear) By Type (Pants, Coat, Skirt, Other) By Distribution (Channel, Online, Offline) - Growth, Future Prospects & Competitive Analysis, 2016 - 2028

About this report

The global fast fashion retail market study examines the sector critically, utilizing important characteristics. The paper includes investment ideas, the necessity for investments in the fast fashion retail business, and the numerous benefits to investors. Importantly, this report outlines significant changes in global technical regulations for the fast fashion retail industry, as well as how economic and non-economic barriers are aiding market growth. Furthermore, the paper examines historical and predicted market sizes at the global, regional, and national levels. The research also includes a thorough examination of major investment propositions, the demand and supply gap, competition positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technical advances, as well as additional assessments such as value chain analysis, Porter's five forces analysis, PESTEL analysis, and so on.

REPORT ATTRIBUTE DETAILS

Fast Fashion Retail Market by Volume

Yes

Market by Value

Yes

Market, Tornado Analysis

Yes

Market, STAR Analysis

Yes

Market, SRC Analysis

Yes

Market, Import-Export Data

Yes (On Demand)

Market Pricing Analysis

Yes (On Demand)

Market Segment Analysis

By Gender (Women's Wear and Men's Wear)

By Age (Adults Wear, Teens Wear, Kids Wear and Other Ages)

By Type (Pants, Coat, Skirt, and Other Types)

By Distribution Channel (Online and Offline)

Market, Regional Analysis

North America (US and Canada)

Europe (Germany, UK, France, Italy, Spain, and Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, South East Asia, and Rest of Asia Pacific)

Latin America (Brazil, Mexico, and Rest of Latin America)

Middle East and Africa (GCC Countries, South Africa, and Rest of Middle East and Africa)

Market Key Companies

Zara SA (Spain), Hennes & Mauritz AB (Sweden), The Gap, Inc. (US), Uniqlo Co., Ltd (Japan), Topshop (UK), Stradivarius (Spain), Primark (UK),

Urban Outfitters, Inc. (US), Guess (US), New Look (UK), and Forever 21 (US).

Market Competitive Landscape

Market Share Analysis

Competitive Benchmarking

Key Players Market Positioning

Geographical Presence Analysis

Major Strategies Adopted

 

Key Highlights of the Report

How are the major segments performing in the fast fashion retail market?

  • In 2021, the online distribution channel held the biggest market share, and this trend is anticipated to hold during the study period. This can be due to consumers' growing preference for online clothing shopping, which is easy and time-saving.
  • In 2021, compared to men and children, women were more likely to engage in compulsive spending because they placed a higher importance on purchasing.

Which region was the leader in the fast fashion retail market?

Throughout the forecast period, Asia Pacific had the highest rate in the global fast fashion retail market in 2021.Given their educational backgrounds and exposure to media and technology, the young population in APAC is naturally inclined to adopt new trends and explore them. This background demonstrated a chance for home consumption in the shape of organized retail, branded behavior, and product designs. This will encourage the fast fashion retail market to expand quickly, creating profitable growth opportunities for the business in the ensuing years.

How is the US market performing in the fast fashion retail market?

The rising trend of fast fashion and thrift shopping among young people drives the demand for fast fashion retail in the US. It is one of the key markets for quick fashion. Some multinational companies that have outsourced their manufacturing to lower costs are also running short-run replenishment facilities in the US to keep up with the rapidly shifting retail industry trends and to create garments quickly. Throughout the supply chain, top manufacturers are implementing new technology and automation. These are the elements boosting the US market's expansion.

What is the competitive environment of the fast fashion retail market?

The fast fashion retail industry's competitive environment gives information on the economic profit made by businesses and suppliers, the fast fashion retail market share globally, the business organization summary, and the opportunities for the fast fashion retail market. The growth strategy of a major player is concentrated on improving its commercial presence in the e-commerce industry through investments and endeavors toward creating cutting-edge technical solutions to combine the physical stores and the online marketplace or platform.

Executive Summary

What is the market definition of the fast fashion retail market?

Sales of fashionable clothing and apparel, as well as related services, make up the fast-fashion market. To keep up with the latest trends, clothing is referred to as "fast fashion." Fashion Week's most recent fashion trends are the foundation for fast-fashion apparel lines. Pants, coats, skirts, and other items are the primary categories of quick fashion. A skirt is a woman's or girl's clothing item that is fastened at the waist and hangs around the legs. It comes in several age groups, including adult, teen, and children's clothing, as well as clothing for all genders, such as women's and men's clothing.

Which are the key investments by the fast fashion retail market players?

Leading players operating in the fast fashion retail market are focusing on the growth in production capacities for fast fashion apparel. Players also concentrate on strategic mergers, acquisitions, and collaborations to gain a competitive edge. For instance, in June 2020, Inditex said it would invest $1 billion over the following three years to upgrade its online shopping infrastructure and adopt cutting-edge technical solutions. Chufy x Mango, a new limited-edition line created by Sofia Sanchez de Betak, was introduced by Mango in May 2021. Sofia has worked with Mango for more than four years as a fashion director, adviser, and designer for the company "Chufy," which bears her name. She posed for several advertisements and wore a Mango design at the 2019 Met Gala. A Spanish brand attended the most esteemed event in the fashion business for the first time.

Some major players in the fast fashion retail market are Zara SA (Spain), Hennes & Mauritz AB (Sweden), The Gap, Inc. (US), Uniqlo Co., Ltd. (Japan), Topshop (UK), Stradivarius (Spain), Primark (UK), Urban Outfitters, Inc. (US), Guess (US), New Look (UK), and Forever 21 (US).

What are the major driving factors for the fast fashion retail market?

Young people's growing need for inexpensive apparel propelled the fast-fashion retail industry. The young market is drawn to distinctive, fashionable, and affordable clothing. Clothing manufacturers are focused on bringing fashionable clothing based on the most recent fashion trends shown at fashion week.Young people's growing demand for inexpensive, quick-fashion clothing fueled the fast-fashion retail industry. However, the growth of fast fashion retail is constrained by poor working conditions and low living incomes. Fashion awareness has expanded along with the accessibility of high-end brands and limited-edition goods due to the Internet's and e-increased commerce's visibility. The use of influencers impacts how businesses market their goods and work to boost sales. This element is also increasing the market's demand.

fast-fashion-retail-market

What are the major risks for the fast fashion retail market?

The fashion industry underpays its workers, especially women, who make up over 80% of the world's garment workers. Workplace harassment also affects women. Aside from poor working conditions, low pay, and overtime, which all contribute to inefficiency, female garment workers in Asia's leading fast fashion companies also endure abuse and harassment. Most people won't want to work in the fashion industry. As a result, low wages and unfavorable working conditions limit the expansion of the fast-fashion retail industry.

Which is the key distribution channel in the fast fashion retail market?

The global fast fashion retail market has been segmented offline and online based on distribution channels. Across the projected timeframe, the online category is anticipated to increase the fastest. One of the main reasons that the internet is becoming the chosen distribution method is the pandemic, rising sales, need for convenience, discounts, and offers. Fast fashion companies like H&M, Zara, and Chanel have adopted digital strategies to broaden their customer base. They are anticipated to keep doing so as profits from online and general e-commerce rise in the years to come.

How is the fast fashion retail market performing in regions?

North America dominated the industry with a 38% market share in 2021. The rising trend of fast apparel and thrift shopping among young people drives the need for quick fashion in the area. It is one of the key markets for quick fashion. To keep prices down, some large companies are also running short-run replenishment facilities in the area to make apparel quickly and to keep up with the retail industry's rapidly changing trends. Throughout the supply chain, top manufacturers are implementing new technology and automation. These are the elements fueling the expansion of the local market.

However, the Asia Pacific fast fashion retail market is expected to grow significantly through the projection period. The factors promoting market expansion in this region include the presence of significant manufacturers, greater investment, and rising production. The Asia Pacific region's fast fashion retail industry is expanding due to rising standards of living, rising disposable income, social media influencers, rising awareness of fast fashion, and rising population in nations like China, Japan, India, etc.

What is the Market Size of Fast Fashion Retail regarding value?

The fast-fashion retail market is to grow at a substantial CAGR of 8.5% in the upcoming years. The global fast fashion retail industry was estimated to be worth USD 92.3 million in 2021 and was expected to be worth USD 150.6 million by 2028.

What are the major players planning for the future of the fast fashion retail market?

Fast fashion firms use artificial intelligence (AI) and machine learning to identify colors, styles, shapes, and client sentiment trends. It assists in trend forecasting, which supports the design team's intuition and creativity by predicting which trends will succeed or fail. For instance, San Francisco-based Stitch Fix will use AI in March 2022 to deliver apparel to customers through online stylists. To fill in the gaps in its inventory, Stitch Fix is now developing clothes using algorithms combining consumer preferences for their preferred colors, patterns, and materials with AI systems.

Segmentation of Global Fast Fashion Retail Market-

Global Fast Fashion Retail Market – By Gender

  • Women's Wear
  • Men's Wear

Global Fast Fashion Retail Market – By Age

  • Adults Wear
  • Teens Wear
  • Kids Wear
  • Other

Global Fast Fashion Retail Market – By Type

  • Pants
  • Coat
  • Skirt
  • Other

Global Fast Fashion Retail Market – By Distribution Channel

  • Online
  • Offline

Global Fast Fashion Retail Market – By Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • UK.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently asked questions about the global fast fashion retail market

Sales fell due to the widespread retail closures caused by the COVID-19 epidemic. Despite a rise in online sales, the COVID-19 virus had a significant financial impact on businesses and merchants.

In 2021, North America held the highest share of the global fast fashion retail market.

Increasing disposable income and rising demand for affordable clothes among youths drive the fast fashion retail market.

The women's wear category had a major share in the global fast fashion retail market in 2021.

In 2021, the online category had a major share in the global fast fashion retail market.

Fast Fashion Retail Market Scope

Report Attribute Details
Market Value in 2021 USD 92.3 million
Market Value in 2028 USD 150.6 million
CAGR 8.5%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Dec 2022
Category:  Consumer Goods
Report ID:   60834
Report Format:   PDF
Pages:   140
Rating:    4.6 (50)
Delivery Time: 24 Hours to 48 Hours   
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