Abstract
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- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive
environment
Executive summary
Clothing and Footwear impacted by the recession
The key trend impacting clothing and footwear sales in the Canada in 2008 was
the entering of the country into a recession. Many consumers stopped shopping
or were looking for deep discount. During 2008, the housing market colapsed,
unemployment started to rise significantly and consumer confidence felt
dramatically. The downturn of the clothing and footwear industry was being
exacerbated by unexciting fashions in stores. The lack of pressure to conform
to one particular style meant that women did not feel they had to update their
wardrobes.
Canadian are looking to dress up
The "dressing up" trend fueled sales growth in women' s dresses and skirts and
men' s suits. Dresses are becoming a "new uniform" for women whereas men are
switching from a casual look to more polished look. The younger women are
wearing dresses to reveal as much as they can and the older market are wearing
dresses that either reveal or hide the shape of their bodies.
Despite their relatively high prices, suits are again becoming something of a
necessity rather than just discretionary. With unemployment rates climbing,
consumers are worried about their job prospects. As a result, men are
switching a casual Friday for smarter apparel. Men, particularly younger ones
who want to look employable or ensure they keep a job, are wearing suits and
ties.
Special size apparel market segment rapidly growing but has room for improvement
Special size clothing has come a long way within the clothing industry and
fashion market. In the past, the choices regarding clothing made for a plus
size individual was limited, often lacking a respect to the ever-changing
fashion trends within society. Sales of plus, petite plus, and tall sizes far
outpace the overall apparel market, especially the ladies plus-size market
which grew 20 per cent between 2004 and 2008 and now represents one out of
every five purchases of ladies apparel in the total ladies apparel market.
Online retailing going strong
Increased internet access and the use of it by Canadians, including the shift
away from other non-store retailing channels such as catalogues towards
internet retailing, all contributed to the rise in online sales in the
country. The growth of internet retailing sales in 2008, however, was slower
compared to previous years. This was primarily due to two factors: a slowdown
of Canada' s previously booming retail sales growth as it returned to more
typical levels and the added effects of the slowing overall economy, which
caused many Canadians to restrict spending.
Brighter futures ahead
Sales of clothings are expected to be strong over the forecast period.
Manufacturers and retailers are expected to reduce their levels of discounts
and increase their prices to a pre-recession level. They are also expected to
focus their efforts on meeting the needs of women aged over 35, who have large
disposable incomes but are increasingly unhappy with the fashions available to
them, and target men which are looking to be more fashionable.
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