Fashion Retail Industry

Goals

To understand the global fashion retail industry with a focus on the United States market, including statistics of retailers by type, revenue, the total addressable market (TAM), and the demographic profile of consumers.

Early Findings

Market Size/Revenue

  • According to Statista, "global retail sales of apparel and footwear reached $1.9 trillion" in 2019.
  • In 2019, the US apparel market was estimated to be $368 billion.
  • Digital Commerce estimates that "online apparel sales accounted for 38.6% of total U.S. apparel sales in 2019 and 100% of the growth in retail clothing sales."
  • Statista estimates that sales from e-commerce for the apparel, footwear, and accessories industry to be $102.5 billion in 2019 and $110.6 billion in 2020.

Number of Stores

  • According to Dun & Bradstreet, there about 95,000 clothing establishments in the United States.
  • The number of women's Clothing Stores in the United States is estimated to be 34,786.

Summary of Findings

  • We used this initial hour of research to assess the availability of the information and provide statistics of revenue and the number of stores.

Proposed next steps:

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