Clothing business is considered to be one of the most lucrative trades if done right. The consumers will always be on the lookout for new clothes and it is the responsibility of the clothing businesses to stay updated about the needs and demands of their buyers. If you are a startup or a flourishing enterprise in the clothing business, these are some of the facts you should not ignore.
- The US is the largest importer of garments in the world.
- Over two billion t-shirts are sold every single year because it is one of the most popular items of clothing in the world.
- Social media is considered to be the most effective medium for clothing businesses to drive customer engagement and brand visibility. Notably, Instagram tops the list over Pinterest, Facebook and LinkedIn.
- About 25% of fashion executives said that investing in brand building to increase full-price sell-through is one of their top five focus areas for sales and growth.
- According to The Fashion and Apparel Industry Report, the worldwide revenue is expected to rise from $481.2 billion in 2018 to $712.9 billion by 2022.
- Some of the biggest threat of big clothing brands includes losing brand loyalty due to market fragmentation, not able to manufacture on-demand styles on time, and diminishing brand engagement on social media.
- Over 75% of consumers prefer clothing brands that offer personalized messaging, offers, and experiences.
- The largest e-commerce market in the world is China followed by United States, United Kingdom, Japan and Germany.
- The brand logo plays a key role in influencing the purchasing decision of the buyers. It takes about 10 seconds and 7 impressions to create an impact on the psyche of the consumers.
- Many consumers don’t buy an item if the clothing label has no care instructions.
- By 2030, apparel consumption is expected to rise by 63%.
- Over 33% of the top global brands use the color blue in their logo.
- Over 75% of mobile phone users are more likely to go directly to a retailer after researching the brand online.
- China is the largest textile exporter in the world.
- Cotton. Linen, polyester, and rayon are the five most favorite fashion clothes fabrics for consumers.
- Whether online or offline, it is imperative to maintain good customer service as 95% of consumers share bad experiences with other people.
- Most of the clothing brands prefer monochromatic logo over Bi-color or multicolor scheme.
- The global textile mills market is likely to reach $842.6 billion in value in 2020.
Sources: Shopify, Entrepreneur, Treehugger, Paragon Financial Group
Find out more interesting facts and tips about labels for clothing here.