Technavio Identifies Three Key Trends Impacting the Global Children’s Wear Market Through 2019
LONDON–(BUSINESS WIRE)–Technavio’s latest global
children’s wear market report highlights three key emerging
trends predicted to impact market growth through 2019. Technavio
defines an emerging trend as something that has potential for
significant impact on the market and contributes to its growth or
decline.
“Increased spending by baby boomers is predicted to significantly impact
the global children’s wear market until 2019. Consumer spending on
children’s wear is increasing worldwide. In 2014, the average family
spending in developed countries accounted for approximately USD 105
annually on children’s clothing needs. Growing disposable income in
developed countries is another reason for the increase in spending on
children’s wear. The availability of designer children’s clothing and
footwear is has also increased consumer spending on children’s wear and
this trend will likely continue over the forecast period,” said Vijay
Sarathi, one of Technavio’s lead industry analysts for apparel
and textiles research.
“Globally, it is also estimated that baby boomers spend more on
expensive and luxurious products. In the US, baby boomers accounted for
close to 70% of the total disposable income and their daily spending
increased at a CAGR of 13.81% from 2009 and reached USD 105 in 2014. It
is also estimated that baby boomers in the US will spend close to USD 35
billion on their grandchildren in 2015.”
Technavio’s market research study identifies the following three
emerging trends that are expected to propel the growth of the global
children’s wear market:
- Demand for luxury children’s wear in developed economies
- Growth of online retailing
- Growth in organized retail
Demand for luxury children’s wear in developed economies
Children’s wear is not restricted to only comfort dressing but is
evolving into fashion clothing. Fashion-consciousness among children in
developed economies like the Americas and Europe has increased
significantly over the past decade. It is largely driven by increased
fashion consciousness of parents in developed economies.
Rising income has also played a major role in fueling the demand for
luxury children’s wear. The UK’s household disposable income increased
by approximately 4% from the fourth quarter of 2014 to the first quarter
of 2015. In 2014, the personal disposable income in the US increased by
approximately 2.5% compared to 2013. The growing desire among children,
especially in high-income households, in developed countries to follow
the latest fashion trends. To cater to their needs, leading retail
clothing companies like H&M and Zara have tasted success in replicating
adult designs for their children’s range. Luxury brands such as Burberry
and Dolce&Gabbana are also investing in premium children’s wear. The
growing demand for luxury children’s wear in developed economies is
therefore expected to significantly support the growth of global
children’s wear market during the forecast period.
Growth of online retailing
With a steady year-on-year increase in the number of internet users, the
global children’s wear market is witness a growing demand for faster
shipping, and it will continue to be a key trend during the forecast
period. Easy access to smartphones and rise in the use of e-banking have
made the online channel popular.
Low prices and discounts are other factors expected to further drive the
popularity of these platforms over the next four years. In 2014, the
global online retailing market accounted for close to 6% of the total
retail sales, and it is expected to reach almost 9% by 2018. Market
vendors have reaped immense benefits from the online channel and have
increased their customer base to a considerable extent. This trend will
likely continue and boost the sales of children’s wear products until
2019.
Growth in organized retail
The retail sector in developing countries such as China, India, and
Brazil is undergoing rapid transition with the rise of organized retail.
Organized retailers like specialty stores and supermarkets provide a
large number of products under one roof and it help customers save
significant time. In 2014, organized retail accounted for close to 8% of
the total retail expenditure in India, of which the apparel segment
accounted for 35% of the total sales. Therefore, the transformation of
unorganized retail into an organized one is predicted to have a
far-reaching impact on manufacturers and retailers of branded apparel
during the forecast period. Some examples of popular department stores
selling children’s wear are Macy’s in the US, F&F in Korea, and Shoppers
Stop in India. Mom & Me, FirstCry, and Kiddicare have emerged as popular
specialist stores for children’s merchandise and this trend is expected
to encourage many other vendors to venture into the market during the
forecast period.
Browse related reports:
— Baby
Clothing Market in the US 2015-2019
— Children’s
Footwear Market In China 2015-2019
— Global
Baby Electronic Toys Market 2015-2019
Purchase any three reports for the price of one by becoming a
Technavio subscriber. Subscribing to Technavio’s reports allows you to
download any three reports per month for the price of one. Contact enquiry@technavio.com
with your requirements and a link to our subscription platform.
About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
If you are interested in more information, please contact our media team
at media@technavio.com.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com
