In this Market Outlook, we discuss the performance and outlook for the apparel and footwear specialty retail market, with a focus on the US, the UK and China. We provide our market sizing estimates for 2021 and beyond, and we consider the primary trends that will drive demand. This report also explores e-commerce penetration, the competitive landscape, US retail innovators and key themes—including demand for activewear, sustainability initiatives and the growth of DTC (direct-to-consumer).
We predict a post-crisis bounce in 2021, with projected YoY growth of 34% for the US, 13.6% for the UK and 7.5% for China
Source: US Census Bureau/UK Office for National Statistics/National Bureau of Statistics of China/Coresight Research
US Apparel and Footwear Specialists’ Sales Versus Total Apparel and Footwear Consumer Spending (YoY % Change)
Source: US Census Bureau/Bureau of Economic Analysis/UK Office for National Statistics/ National Bureau of Statistics of China/Coresight Research