About Winter Wear in Europe
Product sales in this particular market depends on seasons, and is driven by the climatic conditions of a region. Winter seasons that are relatively warmer can hamper the sale of winter wear to a significant extent. The warm winters experienced in late 2015, for example, affected the sale of winter wear considerably, which impacted the business of retailers. Popular fashion shows like the Milan Fashion Week and the London Fashion Week are massive platforms for fashion designers and brands to showcase their offerings. Apart from such platforms, vendors also focus on digital platforms such as social media to increase their brand visibility and connect with their customers, as most European consumers actively use these digital platforms to increase their awareness of the different brands available in the market.
Technavio’s analysts forecast the winter wear market in Europe to grow at a CAGR of 1.81% 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 Europe for 2016-2020. To calculate the market size, Technavio considers the revenue generated through retail sales of products like winter wear and footwear.
The market is divided into the following segments based on store formats:
Technavio Announces the Publication of its Research Report – Winter Wear Market in Europe 2016-2020
Technavio recognizes the following companies as the key players in the winter wear market in Europe: C&A, H&M, Inditex, Marks and Spencer, Primark, and Wal-Mart.
Other Prominent Vendors in the market are: Adidas, Amazon, American Eagle Outfitters, Arcadia Group, ASOS.com, Benetton Group, Debenhams, El Corte Inglés, Espirit Holdings, GAP, Kering, LVMH, Mango, Next, Ralph Lauren, and TJX.
Commenting on the report, an analyst from Technavio’s team said: “Marketing tactics and social media will be a key trend for market growth. Marketing stands as one of the major factors in increasing customer base for any vendor. With diminutive differentiating factor among products, marketing of winter apparels and footwear will help in driving the market. For instance, H&M showcased its innovative fall/winter mannequins in 2014, whereby the company swapped the heads and hands of the window display mannequins for giant knitted versions. The display effectively helped in generating high consumer interest.”
According to the report, one of the key drivers for market growth will be increase in sales during festive seasons. Winter festivals are considered to be of prime importance for the market sales where consumer spending on products, including winter clothing and footwear, increases significantly. December is considered to be the most celebrated time of the year for consumers in Europe, with festivals like the Christmas and Thanksgiving. Consumers in countries like Germany, France, the UK, Austria, and Belgium spend heavily on Christmas shopping. For instance, in 2014, Germany recorded Christmas sales of approximately $3 billion while France recorded $1 billion.
Further, the report states that one of the major challenges against the market growth will be dependency on climatic condition. One of the major challenges faced by vendors in the market at large is the dependency on climatic conditions. Heavy snowfall, hurricanes, or other severe weather events in areas where the retail stores are located may decrease customer traffic and reduce the sales and profitability. If severe weather conditions force the closure of or disrupt operations at the distribution centers, it could incur higher costs and lead to prolonged time to distribute products to the retail stores, wholesale customers, or e-commerce customers. Such extreme weather conditions can adversely affect the business, financial condition, and results of business operations of vendors.
C&A, H&M, Inditex, Marks and Spencer, Primark, Wal-Mart, Adidas, Amazon, American Eagle Outfitters, Arcadia Group, ASOS.com, Benetton Group, Debenhams, El Corte Inglés, Espirit Holdings, GAP, Kering, LVMH, Mango, Next, Ralph Lauren, TJX.
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