World Apparel Indastry

WORLD APPAREL INDUSTRY

The global apparel retail industry, which in 2011 was valued at $1.175 trillion and is forecast to reach an estimated value of $1.348 trillion in 2016, according to the report "Apparel Retail: Global Industry Almanac, MarketLine," published by Reportlinker.com.

When it comes to retail sales, gloom in the West and boom in the East are finely balanced. Global retail sales will expand by around 3% after adjusting for inflation, a similar rate to the previous year. Marketing efforts will focus on appealing to the aspirations of consumers in emerging markets; maintaining relevance among shoppers in developed countries will require an emphasis on value and loyalty. 1

Also supply chains have become more significant than ever before as customers have become much more selective. Efficient costs and speed have become necessary to maintain competitiveness. The internet also has brought about many changes in the way people shop for clothes, making the industry further competitive.

After the expiry of the Multi-Fibre trade agreement in 2004, most tariffs are disappearing and firms can now gain from the global trade of apparel. For buyers, it means many vendors located globally and hence, the cheapest and most efficient suppliers. Many changes have taken place since, including the emergence of South Asia as a supplier region.

After the world recovers from the economic downturn, it seems that the clothing retail industry has a positive outlook. Keeping that in mind, this report will look into the worlds 2nd largest clothing and footwear retailer, H&M.

COMPANY OVERVIEW

H&M