Global Fast Fashion Market with Focus on The United States 2020-2024 with Impact Analysis of COVID-19
DUBLIN, Oct. 27, 2020 /PRNewswire/ — The “Global Fast Fashion Market with Focus on The United States: Size and Forecasts with Impact Analysis of COVID-19 (2020-2024)” report has been added to ResearchAndMarkets.com’s offering.
Fast fashion is the delivering of latest runway trends but at a minimal pricing and low maintenance cost; thus having a mass appeal. In the other words, fast fashion refers to the ability to capture the latest fashion trends and bring them to the public as quickly as fast food. The fast fashion has risen from ‘out-of-the-box’ thinking that departs from convention, which includes a shift from planned production to quick response production, shift from local business to global business, a shift from following trends to leading trends, and a shift from media-centric marketing to spatial marketing. The major advantages of fast fashion are short production time, more styles and lower quantities. The disadvantages of fast fashion are an imitation of original products and false price notion.
The global fast fashion market has increased at a significant CAGR during the years 2015-2019 and projections are made that the market would rise in the next four years i.e. 2020-2024 at a healthy rate. The fast fashion market is expected to increase due to growth in media development, an increase in expenditure on fast fashion, growing youth population and growth of emerging economies. Yet the market faces some challenges such as a decline in spending on apparel, inventory management, perishable and volatile demand.
The COVID-19 pandemic is expected to be a headwind for the fast fashion market all through 2020. People are restricted at their homes practicing social distancing and keeping Covid-19 at bay and as such have no places to go to for recreation. Hence, dampened demand for fast fashion products. The situation is expected to normalize by next year with vaccine arrival and improvement in consumer confidence. Furthermore, the application of sustainable materials in fast fashion clothing is anticipated to surge, casting a positive impact in the approaching years.
This report provides an in-depth analysis of the global fast fashion market by value and by volume The report provides a regional analysis of the fast fashion market of the United States. Growth of the overall global fast fashion market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The competition in the global Fast Fashion market is dominated by the four big players, Zara, H&M, Gap, Inc. and Uniqlo. Further, key players of the fast fashion market Zara, H&M, Uniqlo and Gap, Inc. are also profiled with their financial information and respective business strategies.
Key Topics Covered:
1. Executive Summary
2.1 Apparel Industry: An Overview
2.1.1 Segmentation of Apparel Industry: Gender, Fashion Trend and Product Type
2.1.2 Industry Supply Chain
2.2 Fast Fashion: An Overview
2.2.1 Fast Fashion Strategies
2.2.2 Advantages & Disadvantages of Fast Fashion
2.2.3 Perspectives in Fast Fashion
2.2.4 Fast Fashion Brands v/s Luxury