Global Women Apparel Market - Mass Customization and Personalization to Promote Growth | Technavio
The latest market research report by Technavio on the global women apparel market predicts a CAGR of around 4% during the period 2018-2022.
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Technavio has published a new market research report on the global women apparel market from 2018-2022. (Graphic: Business Wire)
The report segments the global women apparel market by product (tops, bottom wear, intimates and sleepwear, dresses, coats, jackets, and suits) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global women apparel market, according to Technavio consumer and retail researchers:
- Premiumization through well-positioned brands: a major market driver
- Mass customization and personalization: emerging market trend
- The EMEA region held approximately 37% of the overall market share in 2017
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Premiumization through well-positioned brands: a major market driver
Premiumization through well-positioned brands is one of the major factors driving the global women apparel market. An extensive range of products of different qualities are available in the global women apparel market. But, the consumer inclination toward premium and high-end brands is high at present. The high-end brands usually symbolize quality, style, and status to most people. Thus, customers choose brands that are well-positioned in the market and do not hesitate to pay an additional price for these brands. The price of premium women apparel is quite high when compared with non-branded regular women apparel. This is a major factor for companies, which cater to the premium and aspirational customer segments.
According to a senior analyst at Technavio for research on apparel and textile, “The premium women apparel segment is growing and is anticipated to witness further growth in the coming years. The manufacturers operating in this space have started concentrating on expanding their presence in the luxury segment to cover the full spectrum of women apparel. These factors are driving the market for premium women apparel.”
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Mass customization and personalization: emerging market trend
The evolution of different women apparel has demanded vendors to concentrate on strategies such as faster delivery processes and mass customization and personalization. Mass customization and personalization have been gaining importance in the apparel and footwear industry. These factors are being driven by technology, supply chain transformation, and organizational restructuring. There have been major advancements in the technological front at various stages of the product lifecycle, starting from looking out for consumers' measurements to final product development and delivery. There has been wide adoption of mass customization processes by vendors at large.
Global market opportunities
The EMEA region held approximately 37% of the overall market share in 2017. It was followed by the Americas and APAC respectively. The growth of the women apparel market is steady in EMEA. However, the market in APAC is expected to witness the highest growth rate among the regions during the forecast period. The growth of the market in APAC is attributed to the increase in the number of working women and income levels in countries such as Japan, China, and India.
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