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What You Need to Know About the US Apparel Market

What-You-Need-to-Know-About-the-US-Apparel-Market

What You Need to Know About the US Apparel Market

 

Fashion discussions are important because of the industry's size and impact. According to statistics, the fashion industry is the fourth largest in the world. This means it greatly impacts the environment, society, and economy.

 

The Global Apparel Market

 

The apparel market is the market that covers all clothing. This includes sportswear, businesswear, value clothing, and luxury pieces. The market saw some difficulty in 2020 due to the coronavirus pandemic, but global demand for clothing and shoes is expected to rise again.

 

The global apparel market is growing rapidly, with a predicted increase in revenue from 1.5 trillion US dollars in 2021 to two trillion dollars by 2026. The US and China are the largest markets for apparel, accounting for a significant proportion of global demand. These two countries also play a major role in international trade, with China leading the way in terms of value of exports and the US second only to the EU in terms of value of imports.

 

The apparel market consists of many different types of clothing, from sportswear to business attire, and caters to various budgets, from discount to luxury. In 2021, the global apparel market was worth 1.5 trillion US dollars and was expected to grow to two trillion by 2026. The United States has the largest apparel market of any country.

 

The US Apparel Market

 

The United States apparel market is huge, with leading retailers such as TJX and Macy’s each bringing in over 20 billion US dollars in sales. Specialist store-based clothing retailing was valued at over 300 billion US dollars in 2021, while e-commerce brought in over 180.5 million US dollars in the same year.

 

The internet is increasingly influencing social and economic activities, so the e-commerce market for retail goods is expected to grow steadily. In contrast, employment within the United States apparel manufacturing industry decreased rapidly over the past several decades as manufacturing sectors generally transitioned to other regions in search of cheaper labor.

 

Women’s Clothing Retail

 

The retail sales of women’s clothing stores reached about 28 billion US dollars in 2020. The revenue for the women's apparel market in the United States that year was almost 134 billion US dollars. In comparison, retail sales from men's clothing stores dropped to five billion US dollars, with the total market revenue for men’s clothing being 82.2 billion US dollars.

 

Although the coronavirus pandemic caused many stores to close in 2020, sales improved in 2021. In November 2021, monthly clothing store sales rose to 30 billion dollars, considerably more than sales from the same month in previous years.

 

Job Creation in the Fashion Industry

 

The fashion industry employs people of all levels of skill and training, from those with the highest level of technical training to those without formal education. Fashion designers are highly paid professionals who work in the fashion industry, typically in manufacturing or wholesale merchandising.

 

They earn an average of $78,870 per year. The apparel manufacturing industry employs a large number of people in the United States, including many who have traditionally worked in the industry. These workers include sewing machine operators, tailors, textile machine operators, and patternmakers.

 

Conclusion


The US apparel market is highly fragmented, with many small and medium-sized businesses competing for market share. The industry is characterized by low entry and exit barriers and a high degree of competition. A number of trends are currently shaping the US apparel market, including the increasing importance of online retail, the growing popularity of athleisure wear, and the declining popularity of fast fashion.

 

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