Sep 08, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Fast Fashion Retail Market.
It was estimated prior to this unanticipated outbreak that the Fast Fashion Retail Market was expected to grow at a CAGR of XX% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Fast fashion retail is defined as the availability of clothing designs from the catwalk to stores in a very short period to meet the new trend in the clothing sector. The clothing designs are often based on the designs showcased at recent fashion week events. These clothes are produced in bulk and are available at relatively low costs. Zara and H&M are the leading players in the fast fashion retail market.
Growing demand for trendy and stylish clothing coupled with rising per capita disposable income of the consumers are driving the growth of the global fast fashion retail market. Growth of the media industry, growing young population, and increased expenditure on fashion clothes are some of the key factors contributing significantly to the growth of the fast fashion retail market. Innovations in supply chain management are anticipated to bolster the growth of the fast fashion retail industry at a significant rate in the coming years.
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Online distribution channel accounted for the largest market share in 2020 The fast fashion retail market has been divided into offline and online. Online distribution channel accounted for the largest market share in 2020 and is expected to continue its dominance over the review period. This can be attributed to increasing consumer preference to buy clothes online as it is convenient and save time. Factors such as easy internet access, rising awareness and presence of various e-commerce giants are driving the segment growth further.
Europe held the largest market share in 2020. This can be attributed to huge spending on trendy clothes by business tycoons and presence of key market players such as Zara SA (Spain) and Topshop (UK). Rising consumer awareness and brand consciousness among consumers coupled with increasing purchasing power in the developing countries is likely to further drive the product consumption.
Key players operating in the global Fast Fashion Retail Market are-
- Zara SA (Spain)
- Hennes & Mauritz AB (Sweden),
- The Gap, Inc. (The U.S.),
- Uniqlo Co., Ltd (Japan),
- Topshop (UK),
- Stradivarius (Spain),
- Primark (UK),
- Urban Outfitters, Inc. (The U.S.),
- Guess (The U.S.),
- New Look (UK), and
- Forever 21 (The U.S.).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Fast Fashion Retail analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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