Coronavirus (COVID-19) Impact on Global Apparel Industry - Sector Impact Analysis

Summary

This report provides an overview on the impact of COVID-19 on Global Apparel Market, key retailers and shopping behaviours which include year-on-year growth of the apparel market globally, top ten apprel markets and top 10 worst hit markets globally etc..

The publisher forecasts that COVID-19 will wipe US$297bn from the global apparel market in 2020 - a 15.2% decline on 2019. The 10 worst impacted markets, in terms of value, will represent 85.0% of this total loss, with mature markets suffering the hardest - the US will account for 42% of all lost spend, which will contribute to yet more major retail chains filing for Chapter 11.

Scope

• Brands can gain consumer trust by engaging with them and adopting safety measures
• Consumers are increasingly receptive to how the world is changing around them
• Consumers exhibit extreme concerns over the global economic situation
• Preferences for credit card payments have gradually increased throughout the past 10 weeks
• Appeal of contactless convenient payments suggest e-commerce will continue to become entrenched consumer behavior
• Apparel retailers must leverage technology to offer store like shopping experience on websites to encourage customers to shop online

Reasons to Buy

• Gain a comprehensive view of the Apparel market and forecasts to 2024
• Explore new opportunities that will allow you to align your product offerings and strategies to meet demand following the impact of COVID-19 on the apparel market
• Investigate current and forecast trends in Apparel to identify the opportunities offering the most potential
• Understand who the main competitors are in the market and their price positioning