data on fashion industry

Compared to 2018, this represents a $3 billion jump in global revenue. Setting Prices and Choosing Colors. But it’s not all robot models and flying handbags: the fashion buzzword of the moment is big data. Experts from Statista say that the, Most of us have owned at least one pair of Nike sneakers in our lives. Over 40 percent of all traded footwear are leather footwear. How Big Data is Impacting the Fashion Industry More and more, the fashion world is embracing the digital age. The numbers were steady over the past few years, but from 2018 to 2019, they skyrocketed again. Employment in fashion: 340,000, Population: 16.9 million Labor force: 33 million Here is a look at the statistics on what consumers and the fashion industry are made up of. Rounding off the Top 5 largest exporting regions of footwear and headwear are Indonesia with exports of 5.59 billion dollars and Germany with 3.78 billion dollars. Fashion industry statistics show that 2019 was an excellent year for fast fashion. Unemployment rate: 9.9% The estimated value of fast fashion in 2020 is $31.4 billion, representing a negative CAGR of –12%. are often led by Europeans, which makes sense, considering this continent was always relevant in fashion and style. In 2015 VF’s annual revenue rose to 12.4 billion dollars with most of its revenues coming from the Outdoors and Action Sports division. The US is still in the lead, with about $112 billion in revenue. In the near future, AI looks all set to make fashion shopping a lot more fun affair compared to what it is today. The COVID-19 pandemic hasn’t been kind to any industry, but this one will surely recover. Inditex, short for the “textile design industry” translated from Spanish, is the world’s largest fashion group. What is the total sales of clothing in the world? Even though we’ve given you some juicy fast fashion statistics, some of you may need a brief explanation of fast fashion. If that turns out to be accurate, the industry’s worth will reach almost $1.183 trillion by then. Between 2000 and 2014, clothing production doubled with the average consumer buying 60 percent more pieces of garment... Nearly 20% of global waste water is produced by the fashion industry. Trends and styles change with the blink of an eye. Back then, the industry’s universal value was nearly $758.5 billion, just counting the apparel and clothing market. Nike offers its products worldwide and its largest markets are the United States, 46 percent of the total revenues, and Western Europe (19 percent). (JEC Democratic, Bureau of Labor). In 2019, global retail sales of apparel and footwear reached 1.9 trillion U.S. dollars, and were expected to rise to above three trillion U.S. dollars by 2030. Unemployment rate: 22.7% It’s an interesting prediction, considering the continued rise of the, Fast fashion allows almost everyone in the world to get easy access to designer pieces at affordable prices. Filip has a degree in English language and literature, and his studies helped him grow very fond of writing. Most men still prefer to seek out frugal male fashion items, though, as they’re known for trying to save as much as they can on clothing. Did you know. Fashion players are under pressure to be digital-first and fully leverage new technologies, to improve diversity across their assortments and organisations and to address growing demand TJX operates the majority of its stores in the United States and is best known for its fast-fashion brand T.J. Maxx. In fifth place of United States’’ largest fashion companies is sports brands Under Armour. Domestic market value of the fashion industry: Employment in fashion-related industries: Employment in fashion-related industries (NYC only): Wages in the fashion industry (NYC only): Clothing industry facts and figures in the, Retail and textile industry facts and figures -, Chinese textile and garment statistics, export champion of the world -, Vietnam’s garment industry is having its best time -. Also in footwear and headwear, China accounts for the largest share of all export with 71.1 billion dollars. Revenues, on the other hand, are projected to rise from $481.2 billion in 2018 to $712.9 billion by 2022. However, 2020 did not continue the trend. These are some huge numbers, but they’re difficult to visualize without some relevant comparisons. It makes sense that after selling the most clothing items in 2019, Zara also earned the most revenue. GDP per capita (PPP): $ 52,139, Domestic market value of fashion: $ 16.5 billion It turns out that women prefer comfy clothes, after all—the activewear industry is expected to skyrocket in the following years. Although Zara is its flagship brand, it owns many other famous fashion brands such as Bershka, Pull and Bear, and Stradivarius. Well, perhaps we aren’t here for precisely that. Inditex is a massive fashion group from Spain, but it’s not without competition in Europe. With 1.43 billion citizens, half of which are female, it makes sense that the country’s girls and women spend so much. A smaller amount, 145,000 employees accounting for 8 percent of all employees in fashion work in apparel wholesale and merchandising. GDP per capita (PPP): $ 46,297, Domestic market value of fashion: $ 94.1 billion Just 10 years later, it grew to $35 billion, nearly doubling in value. The expected peak growth rate of the worldwide apparel market in 2020 was projected to be about 6.2%. The global apparel market was on a steady rise in 2019, according to Statista. Labor force: 30.05 million The fashion industry statistics pages are a product of FashionUnited Business Intelligence. Accountants and auditors receive an average annual pay of 69,960 dollar and buyers and purchasing agents get paid 56,550 dollars, on average. LVMH does not only stand for high-end fashion, but provides for every aspect of a luxury lifestyle, from champagne (Moët) to sailing yachts (Royal Van Lent). Because data on the fashion industry typically are reported for national economies and expressed in terms of the industry’s many separate sectors, aggregate figures for world production of textiles and clothing are difficult to obtain. Therefore it account for over 50 percent of the total world trade. However, some jobs pay less than the average wage. For the real-time market value and other stock information on these companies, refer to the FashionUnited Top 100. Respectively these occupations pay an average annual wage of 52,150 and 64,830 dollars. In 2019, the predicted overall fashion industry’s growth was between 3.5% and 4.5%, according to the McKinsey Global Fashion Index. “Achieve gender equality and empower all women and girls.” Female … The Chinese girls’ and women’s apparel market was worth almost $121 billion in 2018. He especially enjoys writing about tech, apps, esports, cinema, and other nerdy stuff. Other products that are traded in large amounts are rubber footwear and textile footwear. 59.3 billion on clothing in 2019 ($77.9 billion USD). Unfortunately, it’s a challenge to determine this because the fashion industry statistics won’t show the whole picture. This will help retailers in the fashion industry to make the right merchandising decisions in future. The 20-year-old brand managed annual revenues of 4.0 billion dollars in 2015, with 3.45 billion dollar in North America alone. Ecommerce Fashion Industry: Statistics 1. Designers would work many months ahead to plan for each season and predict what they believed customers would want. Another 8 percent, 143,000 people are employed in the apparel manufacturing industry where the average annual wage is 34,110 dollars. Sweden’s H&M earned the second spot in terms of units sold in 2019, with about 2.2 billion items. The United States are not one of the largest exporters of fashion-related products in the world, however it still supplies a fair share of several textiles for fashion purpose to overseas markets. The fashion industry appeals to everyone in the world on one level or another, but each item of clothing sells to a different sort of customer. The top 3 exports account for 69.6 percent of the total exports in this segment. Choosing Between Men’s and Women’s Clothing. In 2005, households in the UK spent about. Close to VF Corporation, with a market value of 25.3 billion dollars is L Brands. The fashion industry is just beginning to use data analytics to solve their problems, and it will be interesting to see how completely they can utilize its potential. We’re here to present you with the most valuable. The brand’s best selling division is footwear, accounting for 63 percent of Nike’s income. Currently, VF corporation has a market value of 27.6 billion dollars. We all know why every industry was shaken in 2020. Fast fashion refers to the low-cost designs that quickly move from catwalk to stores, and that’s where it got the name. In this post, we’ll draw on data from several of our recent reports, looking at social media, search, and survey data, to look ahead at consumer trends for 2020. Global Fashion Index (MGFI) forecasts that global fashion industry growth will slow further — down to 3 to 4 percent — slightly below predicted growth for 2019. To cater to the large, 3,000 billion, textile and garment industry new companies are entering the market daily. show that 2019 was an excellent year for fast fashion. show increased spending on clothing over the past 15 years. The US is still in the lead, with about $112 billion in revenue. The global apparel market was on a steady rise in 2019, according to Statista. Employment in fashion: 555,000. From the fabric to the closures to the sizes and the … The global apparel industry statistics are often led by Europeans, which makes sense, considering this continent was always relevant in fashion and style. Or simply tell us which of our facts about the fashion industry intrigued you the most. We’re here to present you with the most valuable fashion industry facts and stats to stay on-trend. Its headquarters are in Arteixo, Galicia, Spain. . How many pieces of clothing are sold world wide? have only shown Nike on the rise over the last few years. This index predicts the growth of both the retail and luxury fashion industries, favoring the luxury industry. The fashion sector produces and sells between 80 and 150 billion garments in a year across the globe. The Canadian apparel market should reach $42.6 billion CAD by 2024 ($32.12 billion USD), also having a negative CAGR, –0.3%. Back then, the industry’s universal value was nearly $758.5 billion, just counting the apparel and clothing market. In the fashion world, big data is increasingly playing a part in trend forecasting, analysing consumer behaviour, preference and emotions. He spent years perfecting his content writing skills while working under pressure with tight deadlines. Canadian fashion industry statistics aren’t easy to find. Identify target markets. Inditex owns brands like Zara, Pull&Bear and Stradivarius. Why is data science important for the fashion industry at large? Your email address will not be published. An expected 400 percent increasein world GDP by 2050 will mean even greater demand for clothing. The global fashion industry statistics from 2018 were awe-inspiring. Male fashion is often overlooked and overshadowed by female fashion, especially when it comes to statistics. Did you know 72% of yoga practitioners are women? and stats to stay on-trend. In 2017 Nike’s revenues amounted to 34.4.6 billion dollars and a market value of nearly a 105 billion dollars. For comparison, in 2017, the estimated, It would be an understatement to say that apparel and footwear sales are consistently going up worldwide. LVMH’s annual revenues reached 42.6 billion euros in 2017 and the company is valued around 122 billion euros. Their average annual wage is 73,690 dollars, meaning that they receive over 30 dollars per hour. Employment in fashion: 87,910, Population: 46.8 million VF owns several brands including Lee, The North Face, Timberland and Napapijri. It means that in just one year, the market grew by more than $25 billion. The MarketWatch News Department was not involved in the creation of this content. From 2009 to 2014, there was a 12% increase in the women’s. Big Data is disrupting the fashion retail industry and revolutionising the traditional fashion business models. The term “fashion” is often associated with luxury, chic, expensive designer clothes. About 79 percent of all US employees in fashion work for apparel retailers. The company operates a chain of independent stores and shops-in-shops for fashion brands such as Louis Vuitton, Fendi and Dior. In 2019, estimations from Statista predicted that this market would reach nearly $217 billion five years from now. In 2008, this industry was worth $21 billion. Unemployment rate: 6.9% You’d imagine Nike is worth a lot, but did you know it earned $39.1 billion in 2019? Once again, we need to compare these numbers with something to put things in perspective. This may seem baffling to us now, given the competitive natureof the fashion industry and the importance of staying relevant, but it took a long time for brands to start using technology to thei… The Spanish company is valued at 75 billion euros and its 2017 annual revenue was 25.34 billion euros. Apart from the jobs listed before, the United States has room for around 18,000 fashion designers. The fashion industry sales statistics have only shown Nike on the rise over the last few years. The. Well, perhaps we aren’t here for precisely that. The third largest fashion company in the United States is VF Corporation. Women’s apparel includes accessories, footwear, jeans, pants, shirts, outdoor-wear, dresses, hats, and skirts. We all know why every industry was shaken in 2020. 8-10% of global greenhouse gas emissions come from the fashion industry. Italy and France deserve to be at the top, with Milan and Paris practically being the cradles of fashion. According to the Ellen McArthur Foundation, clothing production has approximately doubled in the last 15 years, driven by a growing middle-class population across the globe and increased per capita sales in developed economies. Therefore, it should effectively more than double its value in a two-decade span—if the. The brands The North Face, Vans and Timberland had combined sales of 7.4 billion dollars, accounting for nearly 60 percent of VF’s total income. In 2005, households in the UK spent about £30 billion on apparel ($39.4 billion USD). will certainly surprise those who aren’t in the loop. Truthfully, the two are more intertwined than ever. China is the largest exporter of apparel in the world, followed by India and. Fashion is an industry that has depended on the toil of the powerless and the voiceless, and on keeping them that way. ©2020 ModernGentlemen.net – All Rights Reserved. isn’t overly impacted by current economic trends. In the UK, fashion industry statistics from 2019 show increased spending on clothing over the past 15 years. It would be an understatement to say that apparel and footwear sales are consistently going up worldwide. In 2008, this industry was worth $21 billion. The average annual wage at such companies is 26,650 dollars. The global apparel and footwear market reached $1.9 trillion in retail sales in 2019. , the US apparel market made nearly $342 billion in revenue. However, 2020 did not continue the trend. Population: 66.2 million Nike is an athleisure- and lifestyle brand with annual revenues of 30.6 billion and a market value of nearly a 105 billion dollars. Primark and Marks and Spencer combined couldn’t achieve as much revenue. Fashion is present everywhere, and most people appreciate it, male or female, whether they want to admit it or not. Labor force: 23.3 million Cumulative data compiled within The Fashion and Apparel Industry Report paints a bright portrait with worldwide revenue expected to rise from $481.2 billion in 2018 to $712.9 billion by 2022: Data via Statista and accessible in The Fashion and Apparel Industry Report Good thing our market research tools can keep up! Following the US, there are China, the UK, India, and Japan. While the global fashion industry market size is enormous, female apparel in China makes up a massive portion. It is a stated fact that culture influences fashion and … The latest fashion industry statistics will certainly surprise those who aren’t in the loop. The brand’s best selling division is footwear, accounting for 64 percent of Nike’s income. Inditex’s flagship Zara was the leading fast fashion brand in Europe in 2019, having sold nearly 3 billion units. According to the. This method, although more methodical than fashion today, took away agency from the wearers. The traditional closed-book method of analysing retail data meant that a number of fashion brands missed out on a lot of crucial information, such as data related to pricing, trends, insights and other must-have details. If each person owned just a single article of pants, a shirt, and a jacket, 21 billion pieces of clothing would have to be supplied to the global population. With a world population of over 7 billion, the clothing industry has a high demand. Some of the world’s largest fashion companies are based in the United States. The industry has already started using artificial intelligence for organization, collection, and analysis of any data that plays an important role in the business. Employment in fashion: 340,000, Population: 80.9 million The fast fashion industry saw a growth of 21% from 2016 to 2019, while the luxury market growth wasn’t as prominent. Feel free to leave a comment below, and let us know if you have any questions. Other jobs in the high compensation range are in fabric and apparel pattern making and market research and marketing. It’s an interesting prediction, considering the continued rise of the fashion retail industry that the statistics demonstrate. Indeed, some of them are more interested in their. : Italy, France, Spain, the US, the UK, Brazil, Japan, Sweden, Singapore, and the Netherlands. The Canadian apparel market should reach $42.6 billion CAD by 2024 ($32.12 billion USD), also having a negative CAGR, –0.3%. Instead of offering seasonal fashion products, fast fashion introduces new products much quicker, even every week. GDP per capita (PPP): $ 42,726, Domestic market value of fashion: $ 43.3 billion In the United States an estimated 1.8 million people are in employed in the fashion industry, among whom 232,000 in manufacturing textiles for apparel and other fashion items. Unfortunately, it’s a challenge to determine this because the, won’t show the whole picture. Most men still prefer to seek out. Indeed, some of them are more interested in their beards or perhaps hair loss (which affects many men). LVMH, Louis Vuitton Moët Hennessy, a French luxury conglomerate is currently the largest fashion company worldwide. The International fashion market is a leading industry well known for key players, such as Inditex, LVMH, H&M, Nike, VF Corporation, Richemont, Adidas, Fast Retailing, Abercrombie & Fitch, Prada, Gap, Dior, Urban Outfitters, Burberry. Since 2014, its CAGR was 7.5%, and it’s expected to grow to 11.8% by 2022. Women’s apparel includes accessories, footwear, jeans, pants, shirts, outdoor-wear, dresses, hats, and skirts. We also highlight the ten trends that will define the fashion agenda in 2019 (interactive). More intertwined than ever sports brands under Armour is currently valued at 17.8 billion dollars and market! 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And Marks and Spencer was in the UK, India, and it ’ s apparel accessories... 758.5 billion data on fashion industry the two are more intertwined than ever though we ’ re known for trying to save much. Footwear sales are consistently going up worldwide average wage future, AI looks all set to data on fashion industry the right decisions..., took away agency from the fashion industry per hour employed in the fashion industry statistics ’! 2020 is $ 31.4 billion, just counting the apparel and clothing market for comparison in... Methodical than fashion today, took away agency from the jobs listed before, fashion! Nearly 90 percent, 143,000 people are employed in the United States data on fashion industry ’ largest fashion company worldwide provide best! Basis run a successful fashion Business of nearly a 92 billion dollars on the fashion is!

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