Apparel sales accelerated last year due to increased consumer spending. Reopening stores, introducing new fashion trends, adapting to customer preferences, and expanding their digital presence helped apparel manufacturers recover ground from their washout in 2020.
As the economy continues its recovery, the demand for apparel is expected to pick up due to higher employment levels and strong consumer spending. Consumers are expected to unleash their buying power as they return to their pre-pandemic lifestyles. Traveling, the resumption of outdoor activities, and the return to offices to work are expected to bolster apparel sales. The global apparel market’s revenue is expected to grow at an 11.5% CAGR to $785.65 billion by 2025.
