TechNavio recognizes the following companies as the key players in Global Children’s Wear Market: Benetton Group S.p.A., Carter’s Inc., Children’s Place Retail Store Inc., Esprit Holdings Ltd., Gap Inc., and The Walt Disney Co.
Commenting on the report, an analyst from TechNavio’s team said: “Over the past few years, children in developed economies in the Americas and Europe have become highly fashion-conscious. These children are treated like adults and they are continually exposed to fashion media and branded clothing. In addition, increased international travel and awareness about branded clothing among their peers is also contributing to awareness about luxury and designer brands among children. Wealthy parents, celebrities, and high-profile businesspeople also prefer to clothe their children in luxury brands for numerous reasons. The growing desire among children to dress like adults and experience the newest fashion trends is inspiring several luxury brands to create miniature versions of adult clothing for children. Therefore, the increasing demand for luxury children’s wear in developed economies is a trend that is expected to lead to the growth of the Global Children’s Wear market during the forecast period.”
According to the report, parents are increasingly spending more on their children’s wear due to reasons such as peer pressure and the need to maintain their social status. Currently, across the globe, an average family spends approximately US$105 annually on their child’s clothing. Spending extravagantly on children has become an important consideration in their upbringing. Higher disposable income is another reason for the increasing spending on children’s wear by families. The availability of newer designer children’s clothing and footwear has also increased consumer spending on children’s wear, which is adding to the market growth.
Further, the report states that vendors in the Global Children’s Wear market are witnessing a decline in their profit margins owing to the increasing competition among vendors and the rising cost of raw materials. The market has also been attracting new vendors owing to its continual growth. These vendors are more focused on customer requirements and are developing new designs/varieties of children’s wear based on their requirements. In addition, cost-driven customers prefer to spend money on low-cost apparel and footwear than designer and luxury brands. This further reduces the sales potential and profit margins of vendors selling premium brands. Hence, the increasing vendor competition is a key challenge that is hindering the growth of the Global Children’s Wear market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-childrens-wear-market-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report – Global Children's Wear Market 2014-2018
