The global apparel market is valued at 3 trillion dollars, 3,000 billion, and accounts for 2 percent of the world’s Gross Domestic Product (GDP). In 2019, online fashion sales accounted for 28.24% of total retail e-commerce sales in the United States (Statista). However in certain occupations the average wages are a lot higher. And some are known as the individual brands that … It mostly imports manufactured apparel. So whether you’re writing a report on the global fashion industry, completing a fashion-related assignment for school or just interested to learn more about fast fashion, here are 69 facts and statistics about fast fashion that will shock you… and hopefully inspire you towards ethical shopping and sustainable fashion consumption. GlobalData Fashion Retailer Survey: 50 U.S. fashion (apparel, accessories, footwear) retailers were surveyed from December 12, 2019 to January 6, 2020 about their Circular Fashion goals. More than two-thirds of surveyed fashion executives expect North America to provide more opportunities with Europe coming in second at 30%. Employment in fashion: 340,000, Population: 16.9 million Apart from the jobs listed before, the United States has room for around 18,000 fashion designers. 2 Million Women Considering Leaving the Workforce in U.S. Bitcoin Cash USD On Bearish Momentum: 4.17% Down In The Last…, Litecoin On Bearish Momentum: 7.31% Down In The Last 24 Hours, PS Business Parks, Inc. And 4 Other Stocks Have Very High…, BBQ Holdings, Inc. And 6 Other Stocks Have High Sales…, Bitcoin Cash USD On Bullish Momentum: 12.13% Up In The Last…. Environmental impact of the textile and clothing industry . CTRL + SPACE for auto-complete. However, the market size will increase from $96 billion in 2018 to $135 billion by 2022. FASHION INDUSTRY 2019 UPDATE The 2019 Pulse Score1 shows that the fash-ion industry has improved its social and environmental performance in the past year, but at a slower rate than the previous year. Share. The UK fashion industry has seen a 22% increase in direct value increases since 2009, contributing nearly 800,000 jobs to the economy. Unemployment rate: 5.3% Marketing and sales managers at apparel retailers have the highest average annual wage of 84,600 dollars. Labor force: 42.0 million Currently, VF corporation has a market value of 27.6 billion dollars. Consider that: Making a pair of jeans produces as much greenhouse gases as driving a car more than 80 miles. Inditex has stores is every major city in Europe, which also account for the majority of the company’s revenue. Revenues, on the other hand, are projected to rise from $481.2 billion in 2018 to $712.9 billion by 2022. About 79 percent of all US employees in fashion work for apparel retailers. ” Researchers further broke people in the fashion industry into two groups: The “insiders” and “outsiders.” Prizing variety, … To cater to the large, 3,000 billion, textile and garment industry new companies are entering the market daily. Fashion companies across the globe will adjust according to changing trends in consumer styling. The shared mobility industry has very quickly lost both passengers and profits as a result of the coronavirus outbreak but it can make a strong comeback with the right strategies, says McKinsey... Technology has played a critical role in helping us adapt to the maelstrom of disruption caused by the coronavirus pandemic and the new realities of daily life. First used in the early 1990s to describe Zara’s business model, fast fashion now dominates the industry.Many major retailers like TopShop, Primark, Forever21 and Mammut are able to turn an idea in a designers mind to the high street shelves in a matter of weeks. E-Commerce transactions are expected to make up 36% of total fashion retail by 2022 (Forrester). TJX operates the majority of its stores in the United States and is best known for its fast-fashion brand T.J. Maxx. In New York, FABSCRAP runs a textile waste reducing service for the fashion industry, interior design, costumes departments for Broadway, and now TV/movie sets. However, there is a large range within this sub industry of fashion. Flying has nothing on the carbon footprint of the fashion industry. Forecast And Trends That Will Define 2019 Fashion Industry Growth, AI Driving Real Estate Revival With Personalized 3D Tours, AI in 2020: No Increase in Adoption But Far From Stalled, COVID-19 Forcing Petrochemical Leaders to Rethink Industry’s Future, Lisbon’s Short-Term Rentals: Occupancy Plummets, But Some Signs of Recovery, New Investment Opportunities in ASEAN’s Healthcare Sector, Digital Is the Wave of the Future for B2B Sales, COVID-19 Stifles Supply of New Short-Term Rental Listings in Portugal, 9 New Automation Projects Focused on U.S. COVID-19 Recovery. The report claims that “these statistics are simply not enough. The immediate effects of the coronavirus outbreak and the ensuing lockdowns exacted a heavy toll on the global economy and presented the greatest challenge in a decade for the auto sector. Its US sales account for 86 percent, with 26.7 billion dollars. The third largest fashion company in the United States is VF Corporation. Jobs in production, planning and expediting, with average wages of 47,680, and in installation, maintenance and repair, with average annual wages of 43,430, also pay less than average within apparel wholesale merchandising. ... Mar 2, 2019, 07:30am EST. The UK’s fashion and textile manufacturing sector produces £9.1 billion of product ranging from designer creations seen at the leading catwalks to fabrics used in medical, defence and transport industries. About sharing. There will be comebacks, self-disruption, end of ownership, and more. Is Facebook Stock Still a Buy After the Advertising Boycott? Fashion players are under pressure to be digital-first and fully leverage new technologies, to improve diversity across their assortments and organisations and to address growing demand Established brands will have to spend more on the development of new brands as well as marketing to safeguard their competitive edge in the industry. The company is also active on the Canadian and European market with its brands T.K. Inditex owns brands like Zara, Pull&Bear and Stradivarius. The Spanish company is valued at 75 billion euros and its 2017 annual revenue was 25.34 billion euros. (JEC Democratic, Bureau of Labor) Average annual wages in fashion range from 26,440 dollars, for textile bleaching and dyeing machine operators, to 84,600 dollars for marketing and sales managers in fashion. Share page. The advertising boycott on Facebook has resulted in a 12% dive in the stock price since Friday. Whereas computer occupations, such as information analysts, are paid the highest annual wage of 73,220 on average, textile bleaching and dyeing machine operators only receive 26,440 per annum. In 2015 VF’s annual revenue rose to 12.4 billion dollars with most of its revenues coming from the Outdoors and Action Sports division. Unemployment rate: 9.9% In March 2019, The Fashion Spot published its seasonal diversity report, which measures diversity of race, gender and size on the Fashion Week catwalks. Under Armour is currently valued at 17.8 billion dollars on the New York Stock Exchange. Growth is poised to shrink from double digits of 13.6% as of 2017 to 10.8% by the end of the year. In New York, FABSCRAP runs a textile waste reducing service for the fashion industry, interior design, costumes departments for Broadway, and now TV/movie sets. For the personal luxury goods industry (luxury fashion, luxury accessories, luxury watches, luxury jewelry, and high-end beauty), we estimate a global revenue contraction of –35 to –39 percent in 2020 year-on-year, but positive growth of 1 to 4 percent in 2021 (compared with the 2019 baseline figure). The three-month on three-month growth rate for volume sales begins to slow down from June 2019 and decline from November 2019 with five consecutive falls up to March 2020. It aims to provide the best available overview of the global fashion industry. The average annual wage in this sub industry is 52,350 dollars. ” Researchers further broke people in the fashion industry into two groups: The “insiders” and “outsiders.” The remaining 10 percent comes from Converse, which is a subsidiary of Nike. In 2017 Nike’s revenues amounted to 34.4.6 billion dollars and a market value of nearly a 105 billion dollars. Fast fashion is a business model that promotes rapid production of cheap clothing to meet the most recent fashion trends. E-Commerce transactions are expected to make up 36% of total fashion retail by 2022 (Forrester). "Even as the … Another 8 percent, 143,000 people are employed in the apparel manufacturing industry where the average annual wage is 34,110 dollars. The State of Fashion 2019 Imran Amed As founder, editor-in-chief and CEO of The Business of Fashion, Imran Amed is one of the fashion industry’s leading writers, thinkers and commentators. McKinsey and Business of Fashion surveyed 300 fashion executives and found that over 40% expect business conditions to worsen in 2019. Read the full report to find out more or keep scrolling to view the highlights. Maxx, HomeSense, Winners and Marshalls. Bitcoin Cash USD is currently on bearish momentum. Export. Also in footwear and headwear, China accounts for the largest share of all export with 71.1 billion dollars. The company operates a chain of independent stores and shops-in-shops for fashion brands such as Louis Vuitton, Fendi and Dior. What’s Direction Of Global Mortgage Brokers Industry? Economic expansion is happening across Asia, but we expect that 2019 … Automated news with a human touch. Markets, Analysis, Interviews, Close to VF Corporation, with a market value of 25.3 billion dollars is L Brands. In 2018, apparel accounted for 65% of the market, followed by footwear (25%) and bags and accessories (10%). Despite this improvement, the fash-ion industry is still far from sustainable. At this pace, the fashion industry’s greenhouse gas emissions will surge more than 50 % by 2030. The average annual wage at such companies is 26,650 … Maintenance and industrial machinery is paid around the average of this sub industry with annual wages of 36,610 dollars. Fashion Industry Statistics. Indeed, India’s ascent is one of ten trends the fashion industry should watch in 2019, highlighted in our latest State of Fashion report, written in partnership with the Business of Fashion (BoF). The remaining 6 percent comes from Converse, which is a subsidiary of Nike. Respectively these occupations pay an average annual wage of 52,150 and 64,830 dollars. Global Fashion Index (MGFI) forecasts that global fashion industry growth will slow further — down to 3 to 4 percent — slightly below predicted growth for 2019. For other data, such as the FashionUnited Top 100, the FashionUnited Facebook Index and the List of Richestest People in Fashion, refer to the FashionUnited Top 100. www.FashionUnited.info © FashionUnited 2020. Employment in fashion: 340,000, Population: 80.9 million Also the retail sale of footwear and leather goods provides a fair amount of jobs in fashion, about 11 … Bitcoin Cash USD On Bearish Momentum: 4.17% Down In The Last... PS Business Parks, Inc. And 4 Other Stocks Have Very High... BBQ Holdings, Inc. And 6 Other Stocks Have High Sales... Bitcoin Cash USD On Bullish Momentum: 12.13% Up In The Last... Bitcoin Cash USD On Bullish Momentum: 11.74% Up In The Last... FedEx Stock Went Down By Over 5% So Far Today. Market fragmentation with the entry of new players thanks to increased e-commerce should continue to harm brand loyalty. Cost of combating online returns of as much as 50% is another headwind that established brands will have to contend with in addition to growing pressures on the use of ethically sourced and green manufacturing materials. Almost 75% of the world’s fashion market is concentrated in Europe, USA, China and Japan. UK fashion and textile exports continued to perform well in 2017, continuing the upward trajectory to stand at £9.7bn. Shared Mobility Poised to Make a Comeback After COVID-19, Take a Selfie and Open a Bank Account in El Salvador, Future of Work: Millions Of Women Could Lose Jobs as Automation Takes Over, Here’s What You Need to Know About Global Media and Entertainment Industry. The three-month on three-month growth rate for volume sales begins to slow down from June 2019 and decline from November 2019 with five consecutive falls up to March 2020. Here is a look at the statistics on what consumers and the fashion industry are made up of. However, most of these companies remain unknown to the consumer audience. While McKinsey and Company are projecting strong growth in the industry in 2019, companies that respond to changes in the broader industry are the only ones that will be able to survive. The shared mobility industry has very quickly lost both passengers and profits as a result of the coronavirus outbreak but it can... Write CSS OR LESS and hit save. Coronavirus Made Startups Get Real About Their Business Models: Virtuleap’s CEO, Ripatrip: Adventure Travel Search Platform With a Personalized Touch, Startup Lisboa: An 8-Year Journey to Promote Spirit of Community, COVID-19 Is Accelerating Fintech Evolution. (JEC Democratic, Bureau of Labor). The monthly growth rate fell sharply in March 2020 at negative 5.1% as many stores ceased trading during the coronavirus pandemic. Including the FashionUnited Top100, Facebook fashion index, Twitter fashion index, Fashion fortune 200, Retail statistics (monthly, Q, H, annual), commodity news, stock news, country statistics, company directory and more. Global Support Activities for Mining Industry: Should Investors Hope for Better Returns? The fashion industry is also the second-largest consumer of water worldwide. ... 2019. 24 April 2019. For the real-time market value and other stock information on these companies, refer to the FashionUnited Top 100. Additional statistics on international trade, production, retail markets and industry structure are available at request via Matthijs Crietee.This service is free for IAF members. Industry Experts Agree: Resale is Set to Soar. The 2019 Ethical Fashion Report grades 130 companies from A+ to F, based on the strength of their systems to mitigate against the risks of forced labour, child labour, and exploitation in their supply chains. The State of Fashion 2019 Imran Amed As founder, editor-in-chief and CEO of The Business of Fashion, Imran Amed is one of the fashion industry’s leading writers, thinkers and commentators. Shoes Segment. The International fashion market is a leading industry well known for key players, such as Inditex, LVMH, H&M, Nike, VF Corporation, Richemont, Adidas, Fast Retailing, Abercrombie & Fitch, Prada, Gap, Dior, Urban Outfitters, Burberry. Fashion is an industry that has depended on the toil of the powerless and the voiceless, and on keeping them that way. From the exploitation of skilled labor to its inability to react to and adapt to technology, these are the big issues that will face the fashion industry in 2019. The United States are not one of the largest exporters of fashion-related products in the world, however it still supplies a fair share of several textiles for fashion purpose to overseas markets. From double digits in 2017-2019 — 13.6% and 10.8% respectively — footwear is … Emerging markets are set to overtake the west in USD 2.5 trillion fashion industry, where nearly 50 per cent of apparel sales will originate from continents out … Domestic market value of the fashion industry: Employment in fashion-related industries: Employment in fashion-related industries (NYC only): Wages in the fashion industry (NYC only): Clothing industry facts and figures in the, Retail and textile industry facts and figures -, Chinese textile and garment statistics, export champion of the world -, Vietnam’s garment industry is having its best time -. Global Fashion Index (MGFI) forecasts that global fashion industry growth will slow further — down to 3 to 4 percent — slightly below predicted growth for 2019. A more comprehensive target market made up of more than 1.2 billionshould be good news for fashion brands. Rounding off the Top 5 largest exporting regions of footwear and headwear are Indonesia with exports of 5.59 billion dollars and Germany with 3.78 billion dollars. Nike is an athleisure- and lifestyle brand with annual revenues of 30.6 billion and a market value of nearly a 105 billion dollars. How many pieces of clothing are sold world wide? Fashion industry a big source of emissions 01:14. In 2019, online fashion sales accounted for 28.24% of total retail e-commerce sales in the United States (Statista). United Nations Alliance on Sustainable Fashion reports the fashion industry employs over 75 million people worldwide. GDP per capita (PPP): $ 52,139, Domestic market value of fashion: $ 16.5 billion Most jobs in fashion related industries are in the retail sale of clothing. image copyright Getty Images. The largest export products among textile and clothing of the United States are: The United States are the largest importer of fashion-related products in the world. 8.8% in the US. 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