The apparel industry had sales worth more than $ 26.8 billion in 2019, and the value of textile industry imports was estimated at more than $ 2 billion. It has been a boom and increase in the sale of both men’s and women’s clothing; however, the increase in sales of men’s clothing has surprisingly outpaced women’s clothing sales.
Amid COVID-19, Canada has also suffered greatly in almost all the running industries but mainly clothing.Large clothing and footwear retail companies such as Marshalls, Winners, Mark’s, Reitman, and Le Chateau successfully achieved half of their total retail sales target. However, consumers have shifted their shopping habits from physical stores to online purchases pandemic era. The fastest-growing distribution channel for apparel retail is e-commerce, which grew from 6% in 2018 to more than 18% in 2021.
Here Ilissa Watnik will shed light on some of the facts in the fashion industry in 2021 and its consequences.
Some of the emerging trends in the Fashion industry are:
Ilissa Watnik says Sportswear and footwear (athleisure): it was one of the fastest growing in 2017. Brands such as Adidas, Nike and Under Armor have established themselves as leaders in this market by investing in innovative technology to improve the functionality of the product. Athleisure outfits include yoga pants, leggings, athletic shoes, leggings, and shorts, which are considered dress wear and exercise wear, which is why they are taking up more and more space in people’s everyday clothes closets. people
Innovation in supplies: the industry has been developing innovative fabrics that offer superior quality to the consumer with less environmental impact.
Using Augmented Reality – You are helping consumers to shop online more conveniently. For example, virtual fitting rooms have great potential to dramatically boost industry e-commerce sales by solving size and fit concerns.
Application of social responsibility criteria by corporations: Consumers demand that companies be transparent and safeguard workers’ rights and have a responsible and sustainable position in the entire garment manufacturing process.
Ilissa Watnik says in recent years, the fashion industry in Canada has boomed in topics such as design, clothing, swimwear, jewelry, accessories, footwear, men’s fashion, and athleisure are two of the trend categories where the sector participates.
Currently, the sector directs its offer to markets such as the United States, Guatemala, Colombia, Peru, and Panama; However, it is important for Canadian exporters to constantly search for new markets, new niches, and channels to diversify their presence increase their sales.
COMPETITORS AND FASHION
Ilissa Watnik says likewise, the renown of Canada in terms of nature can be used as a differentiating factor compared to competitors in this segment, taking into account consumers’ concern for the environment, their interest in reconnecting with nature by the help of intuitive fashion trends and pointing to the trend of use of inputs. With the less environmental impact of Canada than exposes the note.
Ilissa Watnik thinks that keeping track of rapidly changing fashion trends is the norm. These can be perceived by visiting fairs and exhibitions, reviewing catalogues of competitors in the market, magazines, and accessing studies of companies that forecast trends.