Global clothing and clothing accessories store market

New York, July 8 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “2022 Global Clothing and Apparel Accessories Stores Market Report” – https://www.reportlinker.com/p06282499/?utm_source=GNW
Ltd, Inditex, The Gap Inc., Associated British Foods plc and L Brands Inc.

The global apparel and wearable accessories store market is expected to grow from $1,090.04 billion in 2021 to $1,212.34 billion in 2022 at a compound annual growth rate (CAGR) of 11.2%. The market is expected to reach $1,732.61 billion in 2026 at a compound annual growth rate (CAGR) of 9.3%.

The apparel and apparel accessories store market includes sales of apparel and apparel accessories by entities (organizations, independent traders, and partnerships) that sell apparel and apparel accessories to end users from fixed locations . The clothing and clothing accessories store market includes establishments that sell men’s, women’s and children’s clothing, hats and caps, jewelry, wigs and hairpieces, ties, shoes and other products similar.

The main types of clothing and clothing accessories are clothing/clothing stores, jewelry and watch stores, optical goods stores and shoe stores. Dress/Clothing Stores refers to stores that sell dresses, clothes, and apparel like shoes and other costume related items.

Ownership types are retail chain and independent retailer selling through an exclusive showroom and reseller store.

Western Europe was the largest region in the clothing and clothing accessories stores market in 2021. North America was the second largest region in the clothing and clothing accessories stores market.

Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Many clothing and clothing accessories stores adopt a robust and consistent strategy for data analytics in management. This technology is being deployed to improve supply chain efficiency, streamline operations to engage customers and retain customers. Data has become essential for most retail operations.

For example, the global retail analytics market reached $5.1 billion in 2020. With the rapid growth of retail data and the availability of technologies to analyze the data, it will become more easy for building materials and garden equipment and supply dealers to identify and meet needs. and expectations of their customers, so it is expected to drive the market in the future

The coronavirus disease (COVID-19) outbreak acted as a massive restriction on the clothing and clothing accessories market in 2020 as supply chains were disrupted due to trade restrictions and consumption has declined due to lockdowns imposed by governments around the world. an infectious disease with flu-like symptoms including fever, cough and difficulty breathing.

The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China, and has spread around the world, including Western Europe, North America and Asia. Measures taken by national governments to contain transmission have led to a drop in manufacturing and trade in non-essential goods and an overall decline in economic activity, with countries entering a state of “lockdown” and the outbreak has had a negative impact on businesses throughout 2020 and into 2021.

However, the apparel and clothing accessories store market is expected to recover from the shock throughout the forecast period as it is a “black swan” event and not related to persistent or fundamental weaknesses in the market or the global economy.

Retail stores are increasingly using in-store automation to streamline retail purchases. Automation in retail stores aims to reduce cost and time involved in store operations such as container movement, scanning of goods, inventory checking, retrieval, packaging, product delivery and connecting with customers.

Automation reduces wait times, avoids storage issues, improves productivity, and improves the overall customer experience. Retailers are also focusing on using self-checkouts for customers.

Some of the major clothing retailers such as Zara and Lifestyle use self-service payment systems. In 2019, Lifestyle introduced self-service checkout kiosks in a few key stores and also added features like mobile POS, fitting room assistance, and more. to improve their in-store experience.

The countries covered by the clothing and clothing accessories store market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela and Viet Nam.

Read the full report: https://www.reportlinker.com/p06282499/?utm_source=GNW

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Dora W. Clawson