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Most of us have owned at least one pair of Nike sneakers in our lives. Whereas computer occupations, such as information analysts, are paid the highest annual wage of 73,220 on average, textile bleaching and dyeing machine operators only receive 26,440 per annum. While the global fashion industry market size is enormous, female apparel in China makes up a massive portion. ©2020 ModernGentlemen.net – All Rights Reserved. If you fall into this group, don’t worry. This will help retailers in the fashion industry to make the right merchandising decisions in future. The average annual wage at such companies is 26,650 dollars. Indeed, the fashion industry statistics look optimistic and seem to show growing numbers. The International fashion market is a leading industry well known for key players, such as Inditex, LVMH, H&M, Nike, VF Corporation, Richemont, Adidas, Fast Retailing, Abercrombie & Fitch, Prada, Gap, Dior, Urban Outfitters, Burberry. 8-10% of global greenhouse gas emissions come from the fashion industry. We’re here to present you with the most valuable fashion industry facts and stats to stay on-trend. In 2008, this industry was worth $21 billion. The Spanish company is valued at 75 billion euros and its 2017 annual revenue was 25.34 billion euros. Unemployment rate: 22.7% The fast fashion industry saw a growth of 21% from 2016 to 2019, while the luxury market growth wasn’t as prominent. All of these countries have colossal fashion names and brands associated with them. will certainly surprise those who aren’t in the loop. We all know why every industry was shaken in 2020. The fashion industry sales statistics have only shown Nike on the rise over the last few years. The remaining 10 percent comes from Converse, which is a subsidiary of Nike. Identify target markets. For facts and figures of the fashion industry in other countries and regions, see below. Therefore it account for over 50 percent of the total world trade. Employment in fashion: 555,000. Here is a look at the statistics on what consumers and the fashion industry are made up of. The numbers were steady over the past few years, but from 2018 to 2019, they skyrocketed again. The fashion industry is constantly changing. With a world population of over 7 billion, the clothing industry has a high demand. The wages for tailors, dressmakers and sewers are also in the low range with 27,510 dollars, on average. Read these and other jewelry and luxury fashion industry statistics below to see how designer and luxury goods are standing out in a crowded industry. It mostly imports manufactured apparel. . The global men’s apparel market revenue is about $580 billion in 2020. If you fall into this group, don’t worry. Labor force: 33 million However, 2020 did not continue the trend. Inditex’s flagship Zara was the leading fast fashion brand in Europe in 2019, having sold nearly 3 billion units. Over 40 percent of all traded footwear are leather footwear. show increased spending on clothing over the past 15 years. From 2009 to 2014, there was a 12% increase in the women’s fashion industry market. Fast fashion allows almost everyone in the world to get easy access to designer pieces at affordable prices. We’re here to present you with the most valuable. Indeed, some of them are more interested in their. Setting Prices and Choosing Colors. The global apparel market was on a steady rise in 2019, according to Statista. Women’s apparel includes accessories, footwear, jeans, pants, shirts, outdoor-wear, dresses, hats, and skirts. The industry has already started using artificial intelligence for organization, collection, and analysis of any data that plays an important role in the business. The global apparel industry statistics are often led by Europeans, which makes sense, considering this continent was always relevant in fashion and style. The fashion sector produces and sells between 80 and 150 billion garments in a year across the globe. Fascinating Fashion Industry Stats (Editor’s Choice) 4% of global waste comes from the fashion industry. If each person owned just a single article of pants, a shirt, and a jacket, 21 billion pieces of clothing would have to be supplied to the global population. However, some jobs pay less than the average wage. However, by any measure, the industry inarguably accounts for a significant share of world economic output. The largest export products among textile and clothing of the United States are: The United States are the largest importer of fashion-related products in the world. According to the. The remaining 6 percent comes from Converse, which is a subsidiary of Nike. In 2005, households in the UK spent about £30 billion on apparel ($39.4 billion USD). In 2017 Nike’s revenues amounted to 34.4.6 billion dollars and a market value of nearly a 105 billion dollars. Domestic market value of the fashion industry: Employment in fashion-related industries: Employment in fashion-related industries (NYC only): Wages in the fashion industry (NYC only): Clothing industry facts and figures in the, Retail and textile industry facts and figures -, Chinese textile and garment statistics, export champion of the world -, Vietnam’s garment industry is having its best time -. But it’s not all robot models and flying handbags: the fashion buzzword of the moment is big data. The fashion industry statistics pages are a product of FashionUnited Business Intelligence. In the fashion world, big data is increasingly playing a part in trend forecasting, analysing consumer behaviour, preference and emotions. Unfortunately, it’s a challenge to determine this because the fashion industry statistics won’t show the whole picture. Nike offers its products worldwide and its largest markets are the United States, accounting for 46 percent of the total revenues, and Western Europe (19 percent). In hope of motivating and providing direction to fashion retail managers, industry experts, and … Most of these companies remain rather unknown to the consumer audience, better known are the individual brands that are part of these global fashion companies. In 2019, global retail sales of apparel and footwear reached 1.9 trillion U.S. dollars, and were expected to rise to above three trillion U.S. dollars by 2030. The fast fashion industry saw a growth of 21% from 2016 to 2019, while the luxury market growth wasn’t as prominent. This is the FashionUnited page with Facts and Figures about the global and US fashion industry. Experts from Statista say that the global apparel market size could reach $3.3 trillion by 2030. is undeniable. Another 8 percent, 143,000 people are employed in the apparel manufacturing industry where the average annual wage is 34,110 dollars. It makes sense that after selling the most clothing items in 2019, Zara also earned the most revenue. Most of Nike’s income, nearly 94 percent, comes from the Nike brand. In the near future, AI looks all set to make fashion shopping a lot more fun affair compared to what it is today. Marketing and sales managers at apparel retailers have the highest average annual wage of 84,600 dollars. (JEC Democratic, Bureau of Labor). The market’s CAGR for the following five years is forecast to grow by about 5.5% a year. Well, perhaps we aren’t here for precisely that. Due to environmental impact, more consumers and fashion brands are turning to the concept of “slow fashion” and away from the long and costly manufacturing process. He spent years perfecting his content writing skills while working under pressure with tight deadlines. Cumulative data compiled within The Fashion and Apparel Industry Report paints a bright portrait with worldwide revenue expected to rise from $481.2 billion in 2018 to $712.9 billion by 2022: Data via Statista and accessible in The Fashion and Apparel Industry Report A lot of big fashion brands have e-commerce platforms, which generate a lot of data for data scientists to exploit. A smaller amount, 145,000 employees accounting for 8 percent of all employees in fashion work in apparel wholesale and merchandising. , some of you may need a brief explanation of fast fashion. The fashion industry is a global industry, where fashion designers, manufacturers, merchandisers, and retailers from all over the world collaborate to design, manufacture, and sell clothing, shoes, and accessories. The 20-year-old brand managed annual revenues of 4.0 billion dollars in 2015, with 3.45 billion dollar in North America alone. How many people work in the international fashion industry? It turns out that women prefer comfy clothes, after all—the activewear industry is expected to skyrocket in the following years. Fashion players are under pressure to be digital-first and fully leverage new technologies, to improve diversity across their assortments and organisations and to address growing demand LVMH does not only stand for high-end fashion, but provides for every aspect of a luxury lifestyle, from champagne (Moët) to sailing yachts (Royal Van Lent). Instead of offering seasonal fashion products, fast fashion introduces new products much quicker, even every week. Let’s roll out the red carpet and start the show. For the real-time market value and other stock information on these companies, refer to the FashionUnited Top 100. Moreover, the currently largest fashion company globally, Nike, is American. In the United States an estimated 1.8 million people are in employed in the fashion industry, among whom 232,000 in manufacturing textiles for apparel and other fashion items. Employment in fashion: 340,000, Population: 80.9 million Fashion Business Data FashionUnited Business Intelligence provides apparel market data and analytics. The Chinese girls’ and women’s apparel market was worth almost $121 billion in 2018. With 1.43 billion citizens, half of which are female, it makes sense that the country’s girls and women spend so much. Unemployment rate: 6.3% Well, perhaps we aren’t here for precisely that. For other data, such as the FashionUnited Top 100, the FashionUnited Facebook Index and the List of Richestest People in Fashion, refer to the FashionUnited Top 100. www.FashionUnited.info © FashionUnited 2020. is often overlooked and overshadowed by female fashion, especially when it comes to statistics. These are some huge numbers, but they’re difficult to visualize without some relevant comparisons. Fast fashion industry growth has been remarkable. For comparison, in 2017, the estimated fashion industry growth rate was 5.46%. It is a stated fact that culture influences fashion and … With the fashion industry, every possible facet of a piece of clothing is under scrutiny. Just 10 years later, it grew to $35 billion, nearly doubling in value. Employment in fashion: 87,910, Population: 46.8 million Fashion designers and companies use data on a daily basis run a successful fashion business. 30 billion on apparel ($39.4 billion USD). Close to VF Corporation, with a market value of 25.3 billion dollars is L Brands. However, Market Research estimates a relatively bad CAGR of –0.2% until 2024. GDP per capita (PPP): $ 42,726, Domestic market value of fashion: $ 43.3 billion Experts from Statista say that the, Most of us have owned at least one pair of Nike sneakers in our lives. However, as you’ve just learned, retail fashion is just as lucrative as luxury fashion. LVMH’s annual revenues reached 42.6 billion euros in 2017 and the company is valued around 122 billion euros. Did you know 72% of yoga practitioners are women? How Big Data is Impacting the Fashion Industry More and more, the fashion world is embracing the digital age. Your email address will not be published. Here are some invaluable facts on the fashion industry. His range is very broad, and thanks to that, he can write about almost any topic. Although Zara is its flagship brand, it owns many other famous fashion brands such as Bershka, Pull and Bear, and Stradivarius. Trends and styles change with the blink of an eye. Indeed, the. Canadian fashion industry statistics aren’t easy to find. In fifth place of United States’’ largest fashion companies is sports brands Under Armour. It would be an understatement to say that apparel and footwear sales are consistently going up worldwide. The company is also active on the Canadian and European market with its brands T.K. Average annual wages in fashion range from 26,440 dollars, for textile bleaching and dyeing machine operators, to 84,600 dollars for marketing and sales managers in fashion. Fashion is present everywhere, and most people appreciate it, male or female, whether they want to admit it or not. Labor force: 30.05 million The global apparel market was on a steady rise in 2019, according to Statista. An expected 400 percent increasein world GDP by 2050 will mean even greater demand for clothing. The estimated value of fast fashion in 2020 is $31.4 billion, representing a negative CAGR of –12%. Just 10 years later, it grew to $35 billion, nearly doubling in value. For comparison, in 2017, the estimated, It would be an understatement to say that apparel and footwear sales are consistently going up worldwide. LVMH, Louis Vuitton Moët Hennessy, a French luxury conglomerate is currently the largest fashion company worldwide. The fashion industry, up until the mid-twentieth century, ran on four seasons a year: fall, winter, spring, and summer. Even though we’ve given you some juicy fast fashion statistics, some of you may need a brief explanation of fast fashion. From the fabric to the closures to the sizes and the … Jobs in production, planning and expediting, with average wages of 47,680, and in installation, maintenance and repair, with average annual wages of 43,430, also pay less than average within apparel wholesale merchandising. This may seem baffling to us now, given the competitive natureof the fashion industry and the importance of staying relevant, but it took a long time for brands to start using technology to thei… It’s an interesting prediction, considering the continued rise of the fashion retail industry that the statistics demonstrate. The. Filip has a degree in English language and literature, and his studies helped him grow very fond of writing. Nike is an athleisure- and lifestyle brand with annual revenues of 30.6 billion and a market value of nearly a 105 billion dollars. 59.3 billion on clothing in 2019 ($77.9 billion USD). Fashion industry statistics show that 2019 was an excellent year for fast fashion. How many pieces of clothing are sold world wide? It means that in just one year, the market grew by more than $25 billion. Apart from the jobs listed before, the United States has room for around 18,000 fashion designers. However, Market Research estimates a relatively bad CAGR of –0.2% until 2024. To cater to the large, 3,000 billion, textile and garment industry new companies are entering the market daily. We all know why every industry was shaken in 2020. GDP per capita (PPP): $ 46,297, Domestic market value of fashion: $ 94.1 billion Its headquarters are in Arteixo, Galicia, Spain. Between 2000 and 2014, clothing production doubled with the average consumer buying 60 percent more pieces of garment... Nearly 20% of global waste water is produced by the fashion industry. In this post, we’ll draw on data from several of our recent reports, looking at social media, search, and survey data, to look ahead at consumer trends for 2020. Unemployment rate: 6.9% The forecast for the next 10 years, based on this growth, projects that the fast fashion industry will be worth $44 billion by 2028. The market’s CAGR for the following five years is forecast to grow by about 5.5% a year. The COVID-19 pandemic hasn’t been kind to any industry, but this one will surely recover. Inditex, short for the “textile design industry” translated from Spanish, is the world’s largest fashion group. have only shown Nike on the rise over the last few years. In the UK, fashion industry statistics from 2019 show increased spending on clothing over the past 15 years. Employment in fashion: 340,000, Population: 16.9 million Ecommerce Fashion Industry: Statistics 1. The top 3 exports account for 69.6 percent of the total exports in this segment. The brand’s best selling division is footwear, accounting for 64 percent of Nike’s income. The US is still in the lead, with about $112 billion in revenue. Their average annual wage is 73,690 dollars, meaning that they receive over 30 dollars per hour. Choosing Between Men’s and Women’s Clothing. Indeed, some of them are more interested in their beards or perhaps hair loss (which affects many men). In 2019, estimations from Statista predicted that this market would reach nearly $217 billion five years from now. I comment the large, 3,000 billion, at a CAGR of 6.7.... Female apparel in the loop for 8 percent, with Milan and practically. Retailers in the lead, with about $ 112 billion in revenue fashion and style 4.0 billion and. Bershka, Pull & Bear and Stradivarius grow by about 5.5 % year... India and at apparel retailers Spain, but it ’ s fashion industry statistics will surprise. 217 billion five years from now over 30 dollars per hour to find large, 3,000 billion representing. Big data is disrupting the fashion industry is 52,350 dollars largest share of world economic output amount. 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