Children's wear market revenues forecast to increase by 5.36% CAGR during 2013 to 2018
Global Children's Wear Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-30 08:07:02
Over the past few years, children in developed economies in the Americas and Europe have become highly fashion-conscious. These children are treated like adults and they are continually exposed to fashion media and branded clothing. In addition, increased international travel and awareness about branded clothing among their peers is also contributing to awareness about luxury and designer brands among children. Wealthy parents, celebrities, and high-profile businesspeople also prefer to clothe their children in luxury brands for numerous reasons. The growing desire among children to dress like adults and experience the newest fashion trends is inspiring several luxury brands to create miniature versions of adult clothing for children. Therefore, the increasing demand for luxury children´s wear in developed economies is a trend that is expected to lead to the growth of the Global Children´s Wear market during the forecast period.
Parents are increasingly spending more on their children´s wear due to reasons such as peer pressure and the need to maintain their social status. Currently, across the globe, an average family spends approximately US$105 annually on their child´s clothing. Spending extravagantly on children has become an important consideration in their upbringing. Higher disposable income is another reason for the increasing spending on children´s wear by families. The availability of newer designer children´s clothing and footwear has also increased consumer spending on children´s wear, which is adding to the market growth.
Further, vendors in the Global Children´s Wear market are witnessing a decline in their profit margins owing to the increasing competition among vendors and the rising cost of raw materials. The market has also been attracting new vendors owing to its continual growth. These vendors are more focused on customer requirements and are developing new designs/varieties of children´s wear based on their requirements. In addition, cost-driven customers prefer to spend money on low-cost apparel and footwear than designer and luxury brands. This further reduces the sales potential and profit margins of vendors selling premium brands. Hence, the increasing vendor competition is a key challenge that is hindering the growth of the Global Children´s Wear market.
The key players operating in the global children´s wear market include Benetton Group S.p.A., Carter´s Inc., Children´s Place Retail Store Inc., Esprit Holdings Ltd., Gap Inc., and The Walt Disney Co.
The global children´s wear market is forecast to increase at a CAGR of 5.36 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing consumer spending on children´s wear. The Global Children´s Wear market has also been witnessing the increasing demand for luxury children´s wear in developed economies. However, the increasing vendor competition could pose a challenge to the growth of this market.
Other vendors operating in the market are Bossini International Holdings Ltd., Diesel S.p.A., Dolce & Gabbana S.r.l., Donna Karan International Inc., Gianni Versace S.p.A., Giordano International Ltd., Gymboree Corp., Industria de DiseÃ±o Textil SA, J. Crew Group Inc., Kering, Levi Strauss & Co., Linmark Group Ltd., Moiselle International Holdings Ltd., Mothercare plc, Provogue India Ltd., U-RIGHT International Holdings Ltd., VF Corp., and YGM Trading Ltd.
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