According to a fresh report, the global apparel industry will not feel the persistence of the 2007 economic crisis until 2019.

According to the report, the North American clothing market will return to near 2007 levels by 2019, while the Western European market may fall to only about half the worst between 2007 and 2013.

In the meantime, the study predicts that there will be modest growth in the markets of Eastern Europe and Turkey, but Japan and South Korea are expected to stall. Countries like China and India, which are considered as energy-rich emerging markets, are also expected to see a slowdown by 2019.

Clothing focus change

The report noted that due to the economic growth from the BRIC countries, and the type of clothing favored by consumers in these areas tend to be bright, so the type of mainstream clothing will change. The retail market for women's outdoor casual wear is expected to grow from 3 trillion U.S. dollars in 2007 to 3 trillion U.S. dollars in 2019. The men's apparel market is forecast to shrink to $ 52 billion in 2019, down from $ 175 billion in 2007. Sportswear is expected to grow from $ 77 billion in 2007 to $ 79 billion in 2019.

The children's clothing retail market is forecast to grow from $ 120 billion in 2007 to $ 130 billion in 2019. The study pointed out that the growth of children's clothing consumption in developing countries can not keep up with the reduction in spending among young people in developed countries.

Market allocation changes

The report pointed out that online retailing share is growing, the study shows that the traditional retail growth in 2013-2019 15 billion US dollars, but still lower than the amount in 2007. Traditional store sales are expected to account for 63% market share.

Mail order catalog sales are expected to continue to fall by about $ 1 billion, down 2.2%, accounting for 5.7% of total sales.

Online retail sales will continue to grow 14.3% to approximately $ 7 billion from 5.2% in 2007, accounting for 7.1% of the overall market. Sales of the online community and other channels will grow by 21% to about 4 billion U.S. dollars in 2013, accounting for 3% of overall sales.

Changes in purchasing and production behavior

The report predicts that due to the highly competitive retail market, the garment industry's production value will only slightly increase in the next few years, and the pressure from wholesalers to manufacturers is that many business activities are done online and continue Transfer to a low cost country.

The report notes that markets in North America and Western Europe are expected to continue to decline, especially as European brands and wholesalers move to developing countries, and they will also shift manufacturing to these countries.

The manufacturing sectors in Eastern Europe and Turkey expect stagnating growth, while the manufacturing sectors in Japan and South Korea are expected to decline.

The rest of the world, like Sri Lanka, Bangladesh and Vietnam, benefited from the shift in manufacturing sector