Market Outlook: Apparel and Footwear in the US, the UK and China—Strong US Recovery

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In this Market Outlook, we discuss the continuing recovery of the apparel and footwear market in a pandemic-impacted retail environment, with a focus on the US, the UK and China. We provide an update on our market sizing estimates for 2021 and beyond, and consider the primary trends that will drive demand. This report also explores e-commerce penetration, the competitive landscape, US retail innovators and key themes in the market—including a shift to DTC, the importance of sustainability and the rise of athleisure.

We predict that the value of China’s apparel market will surpass the US apparel market by 2025

Coresight Research sourced US and UK apparel consumer spending data to measure the US and UK apparel market. The US personal consumption expenditures are seasonally adjusted at annual rates. The UK household expenditures are not seasonally adjusted. For the China market, we sourced Euromonitor International data for better comparison.
Source: Euromonitor International Limited 2021 © All rights reserved/UK Office for National Statistics/US BEA/Coresight Research

GDP: Change from Preceding Quarter (Annualized; %) – The US

Source: US BEA

GDP: Change from Preceding Quarter (Annualized; %) – The UK

Source: UK Office for National Statistics

GDP: Change from Preceding Quarter (Annualized; %) – China

Source: National Bureau of Statistics of China

US, UK and China: E-Commerce Penetration Rate in the Apparel and Footwear Market (% of Total Apparel and Footwear Sales)

Note: All UK and China e-commerce data, and US e-commerce data prior to 2020, are sourced from Euromonitor (US data for 2020 and thereafter are Coresight Research estimates). For comparability, e-commerce market sizes are represented as proportions of the total apparel and footwear market sizes recorded by Euromonitor (US market size adjusted by Coresight Research for 2020 and thereafter). For the UK and US, these base market sizes differ from the consumer spending figures cited earlier in this report, which are from different source.
Source: Euromonitor International Limited 2021 © All rights reserved/Coresight Research

Top 10 Global Apparel and Footwear Brands: Market Share, 2020 (%)