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Apparel Specialist Retailers in the US

United States apparel specialist retailers market: $200 billion industry in 2012


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2014-02-25 20:39:02 - Apparel Specialist Retailers in the US - a new market research report on companiesandmarkets.com

Overall store growth was flat as some major chains in the United States apparel specialist retailers market are aiming to improve store productivity by closing underperforming locations and independents and growing chains seek out new opportunities to expand. Off-price retailers outpaced the rest of the apparel specialist retailer category in 2012. Many consumers remain cautious and buying name brand apparel at value prices is a considerable draw. Major off-price apparel retailers TJX and Ross Stores were well-managed and well-marketed in 2012, and they experienced strong growth, as did several others. Thanks to the opportunistic, treasure hunt model at these stores, the bricks-and-mortar format has a significant advantage to an internet sale, much as in variety stores, so the growth opportunity

 

 

at off-price apparel specialist retailers is more insulated from growth in internet retailing.

Within apparel categories, sales of footwear outpaced overall apparel, and mens apparel outperformed womens. Propelled by strong growth of sports footwear of 9%, the footwear category was boosted by higher average selling prices and the premiumisation of consumer expectations. Mens apparel again registered a strong performance in 2012 as a growing interest in fashion and commodity inflation acted in concert to drive prices higher.

Growth of sportswear in 2012 was strong as health and wellness trends influence lifestyle and apparel buying decisions. Sportswear brand Lululemon Athletica enjoyed the greatest rate of growth in 2012 with a 40% increase in sales from the prior year. The retailer is at the forefront of the fitness trend that has taken hold of US consumers and female athletes in particular. Driving this trend are women who demand apparel with the same technical performance aspects that their male counterparts have as well as more fashionable design.

Key Headlines

- Value sales of apparel specialist retailers in 2012 increase 5% to reach US$200 billion
- Off-price retailers continue to outpace the rest of the category
- TJX holds the leading position, with an 8% value share in 2012, followed by Gap with a 5% value share
- Retail sales of apparel specialist retailers are expected to grow by a CAGR of 2% to reach US$220 billion in constant value terms in 2017

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Author:
Mike King
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