Three major trends are shaping the global fashion industry today

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The fashion apparel and footwear industry is undergoing tremendous changes as a result of three new fashion trends. The first is the dizzying growth of athleisure costume movement (The Merriam-Webster dictionary in 2016 added and defined “athleisure”: “casual clothing is designed to both exercise and wear for common needs”). Forbes magazine rated athleisure as one of the biggest fashion trends in the world. With many other trends that are somewhat difficult to apply in everyday life, athleisure – a sports fashion trend that has received love from everyone thanks to its convenience, dynamism and high fashion. Understandably, athleisure fads are when they like to wear gym clothes no matter the time: from gym to meeting place with friends, wearing sneakers everywhere, coordinating leggings with every shirt style.

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The second is work childrenswear (children’s clothing, footwear, accessories) continues to outpace adult products in terms of sales volume, benefiting from a wide range of general social and economic trends. The middle class in many emerging markets is a major contributor to the growth of consumption per capita in this segment.

Finally, the boom shows no sign of ceasing fast fashion (instant fashion). Instant fashion is basically producing affordable clothes at mid-range prices based on catwalk designs and selling them as quickly as possible to meet the latest fashion trends and demands.

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Athleisure – Sports fashion trend

Sportswear is expected to continue to grow – achieving a cumulative annual growth rate of 4% between 2016 and 2021 (compared to 2% for fashion and footwear. other). It is noteworthy that the Asia-Pacific region will be the most potential market to boost the boom in sportswear – achieving an absolute increase in value of US $ 24 billion. Three countries, the US, China and India, are estimated to create an absolute value increase of US $ 37 billion by 2021 (61% of the growth of the global sportswear industry).

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This remarkable growth has been accelerated by many industries of sportswear and apparel. As athleisure transforms from fashion trend to trendy dress style, sports giants like Nike or adidas show their dominance and grasp of the times by collaborating with High-end fashion designers like Olivier Rousteing and Stella McCartney, while the fashion giants like H&M or Zara continue to invest in developing sports products.

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Children’s fashion

Children’s clothing and footwear continues to surpass adult clothing. The middle class in many emerging markets is a major contributor to the growth of consumption per capita in this segment. Most notably China – the deregulation of a one-child-only rule is projected to increase per capita consumption from $ 16 from 2016 to $ 19 by 2021. In addition, the emerging trend of households with fewer members, younger age and high after-tax income also contributes to increased spending on children’s goods in major markets.

These children’s fashion lines continue to change from simple and traditional clothing to updated items according to general fashion trends. The typical fashion giants who invested significantly in this transformation may include Zara, H&M … Besides, sports brands such as adidas, Nike, or Puma also benefit from this trend when dad Ahtleisure’s mother will often dress her children and grandchildren in a similar style.

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“Instant fashion” won a foothold in many potential emerging markets

When the Western European market shows signs of overeating with instant fashion, big brands actively look for other markets to continue to grow. As a result, this fast fashion trend has spread to all regions of the world. As they gain popularity and prestige in the fashion industry, big companies are turning their attention to other emerging markets such as Latin America, the Middle East and Africa. North America and Asia-Pacific are almost entirely dominated and dominated by fast fashion – a few fashion names that appear everywhere and are very popular in these two markets, Forever21, Topshop, H&M, Zara …

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Many luxury and high-end fashion brands must also adapt and race by applying the “See Now, Buy Now” model – to satisfy the need to “want to have now” of customers in the present era. This is the clearest evidence for the tremendous influence and impact of fast fashion on shopping and trading behavior in the fashion industry.

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Future visions of the clothing and footwear industry

The Asia-Pacific market is the world’s largest consumer of clothing and footwear with 595 billion US dollars in 2016. The region is dominated by Chinese consumption (the level of consumption slowed down in 2016 at 3% due to a deteriorating global economic situation, a falling currency and a change in buyers). However, the Asia-Pacific region is still expected to account for about 47% of global absolute growth by 2021 with an increase of US $ 83 billion. Still regarded as one of the region’s biggest consumer products, baby fashion is estimated to achieve a cumulative annual growth rate of 6% between 2016 and 2021 – bringing prices the absolute growth value is 19 billion US dollars.

Women’s fashion will remain the core foundation of the fashion industry, accounting for about 38% of total sales volume in 2016. However, men’s fashion is expected to surpass women’s fashion in development. , with a cumulative annual growth rate of 1% through 2021 compared with 1% for women’s fashion. The trend of men increasingly needs to dress well, beautifully, making men’s fashion develop strongly. The dramatic increase in athleisure and sportswear in many today’s social contexts as well as the emergence of more trendy and stylish sportswear will still drive the level of consumption by global customers in this item.

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