A favorite choice of gift-givers this holiday season? New clothes. The apparel category had its biggest year-over-year performance since 2010.
Fast fashion—design trends quickly and cheaply translated for the masses—has had a strong year so far. But unless you're a young woman who takes style cues from social media, many of the more successful online retailers in this space might be foreign to you. According to a September 2018 Hitwise study that looks at fast fashion, mid-tier and premium categories, visits to fast fashion sites grew 20% or more monthly between March-June 2018.
In 2015, Amazon made retail industry headlines when Cowen and Company forecast that the company would dethrone Macy's, the No. 1 clothing retailer, by 2017. Fast forward a few years, and by many measures, that did come to pass.
Multiple studies have shown price plays a strong role in shopping decisions. It's why dollar stores have thrived for the past decade and why many consumers choose to shop online instead of in-store. Still, for many brands, there is a risk in being perceived too strongly for value.
The apparel market hasn’t reached crisis mode, but shopping behavior has changed in ways that are affecting clothing retailers. Athleisure is now the norm, and many consumers care less about physical goods.
Apparel is one of the most popular retail ecommerce product categories, and online sales are growing faster than offline.
Thrifting used to mean sifting through piles of cast-off clothing at Goodwill, but newer upstarts are attempting to take used goods into the digital age.
Recent data releases from The NPD Group and Coresight Research signal a variety of trends driving the apparel market, but the growth of ecommerce is the most significant.
In the latest edition of eMarketer's "Behind the Numbers" podcast, analysts Yory Wurmser and Krista Garcia discuss the state of digital apparel selling, and what retailers are doing online and off to keep up with changing customer expectations.
Department stores, specialty clothing and other brick-and-mortar apparel retailers have been battling increased online competition and consumers’ spending shift toward gadgets and experiences. But a confluence of factors, in particular the launch of the iPhone X, suggests the fight is going to get even tougher this holiday season.