Clothing Industry Statistics and Trends
With a world population of over 7 billion, the clothing industry has a high demand. If each person owned just a single article of pants, a shirt, and a jacket, 21 billion pieces of clothing would have to be supplied to the global population. Here is a look at the statistics on what consumers and the fashion industry are made up of.
Consumers can spend an annual average of $1,700 a year when it comes to clothing, footwear, and related products and services. This is broken down into the following age groups that make up this expenditure. The average price of an apparel article in the United States is $19.
Men – 16 and over: $304
Boys – 2 to 15: $78
Women – 16 and over: $562
Girls – 2 to 15: $101
Children under 2: $91
Other related products and services: $261
On a global scale, here are some additional interesting statistics about the apparel industry.
1. The world clothing and textile industry is worth $2.560 trillion.
2. The world’s childrenswear market is expected to reach beyond $186 billion with a market increase of 15% in five years time.
3. The bridalwear market is expected to reach $57 billion.
4. The menswear industry is expected to exceed $402 billion.
5. The womenswear industry is expected to surpass $621 billion.
Future of Fashion Industry
A look at the creative transformation in the fashion industry from the eyes of a designer and if the industry is something worth emulating in other industries.
According to the United States Bureau of Labor, there are approximately 151,800 individuals employed in the apparel industry with over 7,855 private businesses and establishments. The following occupational related injuries occur per every 100 employees according to the United States Bureau of Labor.
1. Textile Mills: 3.3 injuries per 100
2. Apparel Manufacturing: 3.0 injuries per 100
3. Leather and Allied Product Manufacturing: 5.0 injuries per 100
4. Clothing and Clothing Accessories Stores: 2.7 injuries per 100.
It is recorded that employees operating in threat mills have a higher risk of injury at 6.7 per every 100 employees. Fewer risks exist for employees in yarn texturizing that can suffer an injury at a 1.8 per 100 rate.
Top Brands in Fashion
As according to D&B Hoovers is a listing of the top 10 fashion brands based on overall revenue in the world.
1. Louis Vuitton – $37,140,000,000
2. H&M – $18,820,000,000
3. Kering – $15,650,000,000
4. The Gap – $15,650,000,000
5. Christian Dior – $11,910,000,000
6. Richemont – $11,830,000,000
7. Estee Lauder – $9,710,000,000
8. Phillips-Van Heusen Corp – $6,040,000,000
9. Coach, Inc. – $4,760,000,000
10. Levi Strauss – $4,670,000,000
Social Media Impact on Fashion Industry
With social media seeing upwards of a billion users on Facebook alone, brands are finding ways to use social media to their advantage. Current statistics of these social sites unleash the top brands currently operating on social media and how it can be used to leverage consumer engagement with your brand.