It covers all private household spendings meant for consumption at home. The State of Fashion 2020 CONTRIBUTORS ACHIM BERG Based in Frankfurt, Achim Berg leads McKinsey’s Global Apparel, Fashion & Luxury group and is active in all relevant sectors including clothing, textiles, footwear, athletic wear, beauty, accessories and retailers spanning from the value end to luxury. In the United States alone, consumers spent nearly $380 billion on apparel and footwear in 2017. Showing an increase of 22% in nominal terms. By 2020, the market size of the apparel industry is expected to reach a mind-boggling $1.65 trillion sales in US dollars worldwide. I delved into the annual The State of Fashion 2021 Report with heightened anticipation after a year of global health … | Source: Statista, based on ITU, Estimated share of the total population using a smartphone | Source: Statista, Number of people in the selected region using the internet | Source: Statista, based on ITU and national statistical offices, Average per capita sales of laptops and tablets in units | Source: Statista Consumer Market Outlook, Average revenue of laptops and tablets per capita | Source: Statista Consumer Market Outlook, The indicator shows the estimated average per capita sales of Desktop-PCs in units. Today, underwear makes up 4% of womenswear products currently retailing online across the US and UK markets combined. Honor Code| Global Furniture Market by Type5.1. Klarna). This comprises of all retail sales through clothing specialists. Apr. •    directly employs 816,000 people across a wide range of jobs and is the largest employer of all the creative industries The COICOP definition varies from the market definitions employed in the Consumer Market Outlook. Revenue is expected to show an annual growth rate (CAGR 2020-2025) of 4.2%, resulting in a projected market volume of US$39,946m by 2025. Directly accessible data for 170 industries from 50 countries It includes two streams of data relating to the clothing market: consumer spending and retail sales. Retrieved December 21, 2020, from https://www.statista.com/outlook/244/156/fashion/united-kingdom, "Fashion - United Kingdom." Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Fast-fashion retailer Next Plc is the second largest fashion company in the United Kingdom, based on its market value of 7.16 billion pounds. in the Fashion market Here you can find more studies and statistics about "Fashion". •    the (long term) need to incentivise and encourage growth of UK manufacturing base Reading Support You can find the source in the data box in the lower left corner. May. Reading Support in percent. Reading Support Also, the purchase or resale of used apparel articles is not included in this market segment. Men's, women's and children's clothing (from 4 years), Leather goods (e.g. hats, scarves and gloves), All the important data on the Fashion market, including market size, forecasts, and regional comparisons, Information about key players and insights about start-ups. User penetration in the Apparel segment will be at 60.5% in 2020. E-invoice: the electronic invoice is issued at the checkout by the payment provider, who performs an instant credit check and carries the fraud risk. I was shocked when I discovered this as it amounts to a whopping 60% increase in the market size since the $1.05 trillion dollar pool in 2011. in the Fashion market From historic fashion houses huge donations to fashion weeks going digital, this is how the fashion industry is reacting to the Covid-19 pandemic 12/05/2020 Christian Vierig Getty Images 12. Now the UK’s Fashion industry is worth £26 billion & 800,000 jobs to the economy , making it the UK’s largest creative industry. It covers all private household spendings meant for consumption at home. The “Penetration Rate” box shows the share of active paying customers (or accounts) from the total population of the selected market (market segment, region) for each year. Jul. Minister for the Creative Industries, Ed Vaizey said: The average annual wage at such companies is 26,650 … It includes outerwear, underwear and fashion accessories, but excludes footwear and jewellery. | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for housing, water, electricity, gas and other fuels (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for furnishings, household equipment and routine maintenance of the house (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for health (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for transport (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). The market for Alcoholic, Non-Alcoholic and Hot Drinks not only include sales for at-home consumption (off-trade) but also sales to the on-trade sector (restaurants, bars, cafés). •    the desire and demand created by the top end designer sector and its influence on and diffusion the mainstream – i.e. in percent. The UK music industry is set to halve in size this year as issues including an effective shutdown of concerts, gigs and festivals strip £3bn from its contribution to the economy. The Fashion segment is expected to show a revenue growth of 7.2% in 2021. in percent. One of the leading trends is the direct integration of shopping functionality into the content display on social media, enabling high-speed, "inspire and sell" customer conversion (e.g., Instagram Checkout). 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