The global apparel and accessories retail market is forecast to experience modest growth over the next five years, reaching an estimated market value of US $1,369 billion by 2017, growing at an compound annual growth rate (CAGR) of 4%.
Growth within the global apparel and accessories retail market is set to be driven by favourable demographics, rising consumer incomes, new shopping malls, and changing lifestyles. The market, does however, face the challenge of maintaining the correct balance between price and quality.
Clothing is not only big business but a necessity. Everyone needs clothes and the accessories that go along with them like shoes, handbags and hats. Regardless of where we live or the season of the year, there are clothing appropriate choices to be made.
The global apparel and accessories retail market is a competitive and sometimes unstable business, trends can be here today and gone tomorrow.
APAC dominates the global apparel and accessories retail market and is expected to grow at the highest rate through to 2017.
A rapidly growing middle class, market oriented stable economy, availability of trained manpower at competitive cost, and local availability of most raw materials in India, China, and Japan is expected to drive the market in Asia.
For more information on the global apparel and accessories retail market, see the latest research: Global Apparel and Accessories Retail Market Report
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