Scope of the Report
The report titled “Global Fast Fashion Market with Focus on The United States (2018-2022 Edition)”, provides an in-depth analysis of the global fast fashion market by value and by volume.
The report provides a regional analysis of the fast fashion market of the United States. Growth of the overall global fast fashion market has also been forecasted for the period 2018-2022, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The competition in the global Fast Fashion market is dominated by the four big players, Zara, H&M, Gap, Inc. and Uniqlo. Further, key players of the fast fashion market Zara, H&M, Uniqlo and Gap, Inc. are also profiled with their financial information and respective business strategies.
- The US
- Zara (Inditex Group)
- Gap, Inc.
- Fast Retailing (Uniqlo)
The apparel industry encompasses the clothing, the footwear, the jewellery and the accessories, and addresses the need of all gender types, the men, women and children. Each product type can further be classified based on the variations in a product. The apparel industry can be segmented on the basis of fast fashion and traditional fashion.
Fast fashion is the delivering of latest runway trends but at a minimal pricing and low maintenance cost; thus having a mass appeal. In the other words, fast fashion refers to the ability to capture the latest fashion trends and bring them to public as quickly as fast food. The fast fashion has risen from ’out-of-the-box’ thinking that departs from convention, which includes a shift from planned production to quick response production, shift from local business to global business, a shift from following trends to leading trends, and a shift from media centric marketing to spatial marketing. The major advantages of fast fashion are short production time, more styles and lower quantities. The disadvantages of fast fashion are imitation of original products and false price notion.
The global fast fashion market has increased at a significant CAGR during the years 2013-2017 and projections are made that the market would rise in the next four years i.e. 2018-2022 tremendously. The fast fashion market is expected to increase due to growth in media development, increase in expenditure on fast fashion, growing youth population and growth of emerging economies. Yet the market faces some challenges such as, decline in spending on apparel, inventory management, perishable and volatile demand.