Clothing Stores Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 2/12/2024
SIC Codes: 5611, 5621, 5632, 5641, 5651, 5661, 5699
NAICS Codes: 4481
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
View Full Sample Add To Cart

Excerpt from Clothing Stores Industry Profile

Companies in this industry operate establishments primarily engaged in retailing new clothing. Major companies include Gap, TJX Companies, and Victoria's Secret (all based in the US), along with Asos (the UK), H&M (Sweden), and Zara (Spain).

Revenue for the global apparel and footwear industry is forecast to reach more than 3 trillion by 2030, according to Statista. In 2022, about 18 retailers in the US were at risk of bankruptcy, according to Retail Dive. Key growth drivers include sportswear sales and demand from emerging markets.

The US clothing store industry includes more than 95,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $190 billion.

COMPETITIVE LANDSCAPE

Personal income and fashion trends drive demand for clothing. The profitability of individual companies depends heavily on effective merchandising and marketing. Large companies can offer wide selections of clothing and have advantages in purchasing, distribution, and marketing. Small stores can compete by offering unique merchandise, targeting a specific demographic, providing superior customer service, or serving a local market. The US industry is concentrated: the 50 largest companies account for about 70% of industry revenue.

Competition for the clothing store industry includes department stores, discount and outlet stores, and internet and catalog retailers. The online and off-price apparel sales channels are growing rapidly -- especially among younger women who are major consumers of apparel -- primarily at the expense of specialty apparel ...

 
View Full Sample Add To Cart Return to the Industry Profile Menu

Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

Learn More About Subscription Options