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Impact of COVID 19 on the North American Apparel Market

  • ID: 5013547
  • Report
  • March 2020
  • Region: North America, United States
  • Orion Market Research Private Limited
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FEATURED COMPANIES

  • Adidas AG
  • Fila Holdings Corp.
  • Hanesbrands Inc.
  • NIKE, Inc.
  • Puma SE
  • PVH Corp.
  • MORE
North American Market Size, Share & Trends Analysis Report by Apparel Type (Men’s Wear, Women’s Wear, and Kid’s Wear), By Distribution Channel (Online Distribution Channel and Offline Distribution Channel), Impact of COVID-19 on North American Apparel Industry, and Forecast 2019-2025.

The apparel industry comprises sales of apparel by entities (organizations and sole traders) that manufacture apparel. The three main categories of apparel that include women’s wear, men’s wear, and kid’s wear. Fashion shows across the region such as in Los Angeles and New York have made sure to garnish men’s fashion with apt attention and publicity. In addition, fashion magazines such as GQ Magazine and D'Marge Magazine are significantly contributing to the growth of the men’s apparel industry. Additionally, the women’s wear market is influenced by continuous innovation in clothing trends, magazines dedicated to fashion statements, and celebrity endorsements. Apart from this, social media and celebrities are the major influencers of the apparel industry.

The North American apparel industry market generated significant value in 2018 with a remarkable CAGR for the last few years. North America, specifically the US is home to some of the major designer labels of the globe such as Ralph Lauren, Michael Kors, and Calvin Klein. Historically, sever4al fashion trends have been led by the US such as the emergence of denim jeans by Levi Strauss, a San Francisco-based German merchant in the 1800s. In addition, current trends such as athleisure and sportswear were popularized by Nike, an American company. In addition, growth in the e-commerce industry and supportive government regulations on the manufacturing of apparel and clothing drove the North American apparel industry. However, the recent outbreak of COVID-19 had a dual impact on the North American apparel industry and propelled major brands and design houses to close their doors and postpone upcoming runway shows. In addition, major events such as the CFDA Awards and the Met Gala have been postponed indefinitely. Moreover, the department store across the region have shut their doors.

Some of the major players covered in the North American apparel industry include Ralph Lauren Corp., Nike Inc., VF Corp., PVH Corp., and The TJX Companies Inc., among others. The outbreak of the pandemic coronavirus has significantly affected the sales of these players and these players are compelled to shut their stores due to lockdown. For instance, effective on March 19, The TJX Companies Inc. closed all of its stores in the North American countries, Australia, and Europe for two weeks. In addition, the company has announced to close its online business, distribution centers, and offices. Moreover, after temporarily closing down its corporate headquarters in Beaverton, Oregon, Nike has now closed many of its retail stores across the US due to coronavirus outbreak. The retail giant announced to shutter all of its stores in the US, Canada, Australia, Western Europe, and New Zealand for limiting the spread of coronavirus. These stores will be closed through March 27.

Research Methodology

The study on the North American apparel industry is incorporated by extensive primary and secondary research conducted by the research team. In secondary research, different approaches have been adopted to derive the market value, market growth rate and analysis trends in the industry due to the COVID-19 pandemic. In the report, the analysis of the country is provided by analyzing various regional players, laws & policies, consumer behavior, macro-economic factors and impact of the pandemic.

Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures. Besides, an expected recovery timeline of the industry will also be provided with the best- and worst-case scenario which will aid the companies to take their future steps in the global entertainment industry.

Sources Include
  • Financial reports of companies involved in the market
  • Whitepapers, research-papers, and news blogs
  • Company websites and their product catalog
  • Government Organizations Reports
The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers
  • Comprehensive research methodology of the North American Apparel Industry.
  • This report also includes a detailed and extensive market overview with key analyst insights.
  • An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
  • Analysis of regional regulations and other government policies impacting the North American Apparel Industry.
  • Insights about market determinants that are stimulating North American Apparel Industry.
  • Detailed and extensive market segments with regional distribution of forecasted revenues.
  • Extensive profiles and recent developments of market players.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Adidas AG
  • Fila Holdings Corp.
  • Hanesbrands Inc.
  • NIKE, Inc.
  • Puma SE
  • PVH Corp.
  • MORE
Report Summary
  • Research Methods and Tools
  • Market Overview and Insights
  • Scope of the Report
  • Analyst Insight & Current Market Trends
  • Key Findings
  • Recommendations
  • Conclusion
  • Government support/Bailout Packages for the apparel industry
  • Supply & Demand Analysis
Market Overview
  • Historical market growth estimation in apparel industry excluding COVID-19 pandemic effect
  • Deviations in the apparel industry growth rate due to COVID-19 pandemic
Segmentation By Apparel Type
  • Men’s Wear
  • Women’s Wear
  • Kid’s Wear
Segmentation By Distribution Channel
  • Online Distribution Channel
  • Offline Distribution Channel
Impact of COVID-19 on major economies
  • United States
  • Canada
Companies Studied
  • Adidas AG
  • Fila Holdings Corp.
  • Hanesbrands Inc.
  • NIKE, Inc.
  • Puma SE
  • PVH Corp.
  • Ralph Lauren Corp.
  • The TJX Companies, Inc.
  • Under Armour, Inc.
  • VF Corp.
Note: Product cover images may vary from those shown
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  • Adidas AG
  • Fila Holdings Corp.
  • Hanesbrands Inc.
  • NIKE, Inc.
  • Puma SE
  • PVH Corp.
  • Ralph Lauren Corp.
  • The TJX Companies, Inc.
  • Under Armour, Inc.
  • VF Corp.
Note: Product cover images may vary from those shown
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