LONDON–(BUSINESS WIRE)–As the summer vacations come to an end and students gear up to get back to school, there is an increase in demand for trendy and fashionable apparels. Apparel companies are all set to cater to this demand with the launch of stylish new products and introduction of attractive back to school sales. However, the biggest challenge lies in delivering this merchandise to the target audience. Generation Z or the linkster generation consists of individual’s born post 2002, who have grown up with social media, smartphones, and apps. This generation is surrounded by the help, expertise, and pressures of social media, the internet, and advanced technology. Therefore, generation Z is not very keen about searching for back to school supplies in physical stores. They have greater trust in the online channels, which helps them to identify fashion trends and make purchases from the comfort of their home.
Market research analysts at Technavio predict that the global online apparel retailing market will grow steadily over the next few years and post a CAGR of around 14% until 2021. This market research analysis highlights the increase in smartphone penetration as one of the primary factors benefitting the global online apparel retailing market. Tech-savvy users prefer to buy goods online due to the ease, convenience, and time saving advantages offered by online retail.
According to a senior analyst at Technavio for apparel and textile research, “Increased security features for online payments, free delivery, easy returns, responsive customer service, and user-friendly design of shopping websites are factors that encourage customers to shop online.”
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Market research firm Technavio has identified the key trends and drivers which are likely to drive the bottom lines of the online apparel retailing market. For instance, technological advances such as 3D printing, interactive product configurators, flexible sizing, and pricing algorithms have enabled brands to incorporate customization in their e-commerce models. This will enable them to offer consumers a wide variety of designs and fits at different prices. Several manufacturers allow users to upload images and create their own clothing design. They also provide digital printing and other personalization techniques for the designing process. All these developments are expected to gain popularity with generation Z, which will lead to the growth of the online apparel retailing market.
Technavio’s market research provides a competitive analysis of the market by product type (upper wear and bottom wear), by end user (men, women, and children), and by geography (APAC, Europe, North America, and ROW). This research report will thus provide a thorough understanding of the market augmented with actionable insights. It will help market players refine their strategies to win a bigger share of the market during the period 2017-2021.
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