The global apparel market is expected to exhibit stable growth in the coming years, mainly owing to the increasing disposable income of the middle-class and increased fashion awareness, thanks to social media, the influence of micro-influencers, and the popularity of fashion blogs. According to Statista, the size of the global apparel and footwear market is expected to reach $3.30 trillion by 2030.
Moreover, the inclination toward online shopping since the onset of the pandemic has boosted the fashion industry’s growth. In addition, fashion brands are increasing their online presence and making significant investments in big data and analytics to offer more personalized solutions. Another notable trend during the pandemic was a boom in athleisure as consumers swapped business casual and professional garb for yoga pants and T-shirts.
