Sector Overview: Apparel & Footwear — Consumer Connectivity Changing Sector Landscape

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Key Points

Each of our Sector Overview reports provides an essential briefing on a sector or market. 

  • Connectivity and a health and wellness focus are the consumer lifestyles underpinning changing trends in the apparel and footwear sector. 
  • The global apparel and footwear market achieved a 3.9% five-year CAGR in the 2013-2018 period, as fast fashion curtailed value growth. 
  • Sports footwear drove sector growth and has become the social currency of today’s youth, benefiting from high profile collaborations across brands and celebrities/sports figures. 
  • Industry growth is projected to accelerate in the 2018-2023 period, reflecting a growing global middle class, with India and Asia driving much of the increment as per capita apparel and footwear ownership increases. 

New digital marketplaces have made the apparel and footwear market truly global, giving consumers access to brands and products once available only by traveling. Brands are bringing products to neighborhoods that previously had very little access to the latest fashion trends.

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