Winter wear: Key market research findings
- Increase in sales during festive seasons
- Seasonal product launches
- Leading market players are C&A, H&M, Inditex, Marks and Spencer, Primark, and Walmart
Technavio’s market research analysts predict the winter wear market in Europe to reach revenues around $170 billion by 2020. Product innovations will be one of the major growth factors in the winter wear market in Europe over the forecast period. Several manufacturers are continuously inventing new winter clothes and footwear in terms of quality, raw materials, designs, and textiles. Nike is one of the largest apparel makers worldwide and a pioneer in introducing innovative offerings in the market. Recently, Nike has introduced a new workout gear, Therma-Sphere Max, which is designed to be used in cold temperatures. Moreover, vendors are also offering end-of-season sales and are giving huge discounts on winter products, which will lead to significant growth of the winter wear market in Europe in the coming years.
The new market research report from Technavio provides a breakdown and analysis of the winter wear segments by technology.
“One of the latest trends boosting the growth of this market will be seasonal launches of new winter collections of apparels and footwear. Several vendors come up with their new collections through autumn/winter collection, and fall/winter collection. For instance, ZARA’s autumn/winter collection has launched new and tailored trousers and winter coats with color pop leather skirts and distressed denim. Moreover, the vendors are also increasingly using social media platforms like Facebook, Pinterest, and Twitter to augment their brand visibility and attract more consumers,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research
The apparel segment will to dominate this market during the forecast period and is anticipated to occupy more than 92% of the total market share by 2020. Jackets and coats are the highest-selling apparels during the winter season. Much of this segment’s growth can be attributed to new product launches by vendors. Apparel accessories are expected to register a high growth rate during the forecast period, primarily due to the high preference among consumers for fashion clothing products.
The key vendors in the winter wear market in Europe include C&A, H&M, Inditex, Marks and Spencer, Primark, and Walmart. The market is highly fragmented due to the presence of both domestic and international vendors. The manufacturers are coming up with new innovations in the market to meet the growing and changing demands of consumers. Competition in the market is expected to gain momentum during the forecast period, with several product launches and price wars.
A more detailed analysis is available in the Technavio report, Winter Wear Market in Europe 2016-2020.
We can customize reports by other regions and specific segments upon request.
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