Fast Fashion Retail Market Report

Market Insights

The Global Fast Fashion Retail Market is estimated to grow from USD xx billion in 2020 to USD xx billion by 2026 at a healthy CAGR of x% during the forecast period.

Figure: Global Fast Fashion Retail Market Size, 2020-2026 (USD Billion)

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What is Fast Fashion Retail Market?

Fast fashion retail is defined as the availability of clothing designs from the catwalk to stores in a very short period to meet the new trend in the clothing sector. The clothing designs are often based on the designs showcased at recent fashion week events. These clothes are produced in bulk and are available at relatively low costs. Zara and H&M are the leading players in the fast fashion retail market.

Key players

Key players operating in the global fast fashion retail market are –

• Zara SA (Spain)
• Hennes & Mauritz AB (Sweden),
• The Gap, Inc. (The U.S.),
• Uniqlo Co., Ltd (Japan),
• Topshop (UK),
• Stradivarius (Spain),
• Primark (UK),
• Urban Outfitters, Inc. (The U.S.),
• Guess (The U.S.),
• New Look (UK), and
• Forever 21 (The U.S.).

Market Dynamics

Growing demand for trendy and stylish clothing coupled with rising per capita disposable income of the consumers are driving the growth of the global fast fashion retail market.

• Growth of the media industry, growing young population, and increased expenditure on fashion clothes are some of the key factors contributing significantly to the growth of the fast fashion retail market.
• Innovations in supply chain management are anticipated to bolster the growth of the fast fashion retail industry at a significant rate in the coming years.

Distribution Channel Trends

Online distribution channel accounted for the largest market share in 2020

• The fast fashion retail market has been divided into offline and online.
• Online distribution channel accounted for the largest market share in 2020 and is expected to continue its dominance over the review period.
• This can be attributed to increasing consumer preference to buy clothes online as it is convenient and save time.
• Factors such as easy internet access, rising awareness and presence of various e-commerce giants are driving the segment growth further.

Regional Trends

Europe held the largest market share in 2020.

This can be attributed to huge spending on trendy clothes by business tycoons and presence of key market players such as Zara SA (Spain) and Topshop (UK). Rising consumer awareness and brand consciousness among consumers coupled with increasing purchasing power in the developing countries is likely to further drive the product consumption.

COVID-19 Impact on Global Fast Fashion Retail market

The global fashion industry has been hit due to the outbreak of coronavirus.

Sales plunged due to widespread store closure amid covid-19 outbreak. The economic magnitude of the COVID-19 virus on retailers and brands were high, although online sales of the product increased. Furthermore, this industry is likely to gain normalcy and prove resilient in the near future. Additionally, supply chain disruptions because of lockdown across geographies further affected the product demand.

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Critical Questions Answered in the Report

• What are the key trends in the global fast fashion retail market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on global fast fashion retail market?
• What are the key strategies adopted by the major vendors to lead in the global fast fashion retail market?
• What is the market share of the top vendors?

Target Audience

Here is the list of the group of customers that the Fast fashion retail market hopes to have the greatest opportunity to convert-

• Fast fashion retail distributors
• Fast fashion retail suppliers
• Fast fashion retail manufacturers
• Logistics organizations
• Government Bodies

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