About Winter Wear in the US
The market is highly seasonal and is driven by the climatic conditions of the region. With climate change having become a key issue the world over in the last few years and the increasingly warm winters in the country, vendors are likely to be unable to anticipate demand trends accurately. The warm winters experienced in late 2015, for instance, have had significant negative effects on sales, leading to revenue losses and stock pile-ups for retailers. Continuous product launches, including a mix of heavy and light woolens to address the fluctuating weather patterns, will be key to the growth of the market. Holiday season sales are also major revenue contributors for the retailers.
Technavio’s analysts forecast the winter wear market in the US to grow at a CAGR of 2.81% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the winter wear market in the US for 2016-2020. To calculate the market size, Technavio considers the revenue generated from retail sales of winter apparel and footwear.
The market is divided into the following segments based on retail format:
Technavio Announces the Publication of its Research Report – Winter Wear Market in the US 2016-2020
Technavio recognizes the following companies as the key players in the winter wear market in the US: Gap, Macy's, TJX, VF, Wal-Mart, Backwoods Retail, Moosejaw, Peter Glenn, Recreational Equipment, and Vestis Retail.
Other Prominent Vendors in the market are: Amazon, American Eagle Outfitters, Backcountry, Best Buy, CustomInk, Factory Green, H&M, Ideel, Inditex, J.C. Penney, Kohl's, LVMH, and LVMH.
Commenting on the report, an analyst from Technavio’s team said: “Growth in luxury fashion will be a key trend for market growth. The US market has been a lucrative one for luxury and fashion businesses, particularly in 2014 and 2015, after the country's recovery from the economic recession of 2008-2009 and the ensuing downturns of the early 2010s. Consequently, many foreign luxury players are expanding into the US market. The total sales in the outdoor luxury outerwear industry maintained a growth at around 5.5% to 6.5% in 2015 from the previous year.”
According to the report, rise in online spending will be a key driver for market growth. In the US, the number of online transactions and the average amount of money spent per online transaction is increasing. An increase in the number of Internet users and the buy it now attitude of these users are contributing to the market growth. In addition, the time-saving aspects and ease of online shopping, along with the wide range of products available, are encouraging consumers to buy things online rather in a physical store. The online retail spends per user grew by 6.5% in 2014.
Further, the report states that threat from counterfeit products will be a challenge for the market. Counterfeit products affect the revenue and the brand image of original brands. According to the US government, China continues to be the primary source of counterfeit goods. Counterfeits of Moncler jackets have been sold on eBay, with people paying $500-$1,000 for these products, unaware that these are fakes. Most of the sellers of these counterfeit products on eBay US are from European countries such as Bulgaria, Turkey, Hungary, Germany, and the Russian Federation.
Gap, Macy's, TJX, VF, Wal-Mart, Backwoods Retail, Moosejaw, Peter Glenn, Recreational Equipment, Vestis Retail, Amazon, American Eagle Outfitters, Backcountry, Best Buy, CustomInk, Factory Green, H&M, Ideel, Inditex, J.C. Penney, Kohl's, LVMH, LVMH.
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