Saturday, 8 February 2020

Global fashion market to grow 3.9% per year by 2025

Kantar, the market and prospective analysis specialist, has just released its 2025 predictions and trends for the retail industry. The report has taken more than 1,500 of the largest worldwide distributors into account, across all sectors. In terms of clothing, the global market should increase by 3.9% each year until 2025, totaling 64 billion dollars in five years.

According to Kantar, approximately half of this increase will be generated by five major players: Japan's Fast Retailing, owner of Uniqlo; Spanish company Inditex; H&M, from Sweden; and American brands TJX and Old Navy. Globally, the worldwide fashion retail market is valued at 300 billion dollars in 2020. This amount could reach 360 billion dollars in 2025.

An overall analysis of global retail, including hypermarkets, brands, and discounters, reveals that the market could reach 6,700 billion dollars in sales in 2020, an increase of 4.8% in one year, bolstered by e-commerce which will jump 15.7% this year, reaching 861 billion dollars. The online market will certainly lead to future growth. Online sales, which represent 12% global retail sales today should increase four times faster than the physical transactions within five years. In 2021, the 1 trillion dollars generated revenue line will be crossed. This number will reach 1,600 billion in 2025, according to Kantar’s projections.

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