Global Apparel Industry Analysis

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The global apparel industry is one of the most lucrative industries in today’s time. The apparel industry is one of the industries that grew at a steady pace even during the time of recession. With the global economic condition now, coming back to a healthy state, the global apparel industry has reached the blossoming stage. Today, the consumers are reeling back to the marketplace and are even more inclined towards hefty spending on apparel, than in the past. With the marketplace expanding manifold and the online retailers also enabling for the retail options for apparel industry,it is estimated, by 2025, the emerging countries would have an impact of $100 billion in the global apparel sector. Though this industry is growing, but it has to…show more content…
For attaining a sustained competitive advantage, the industry looks to understand the psyche of the customers, their fashion involvement and the hedonic and utilitarian attitude. The apparel industry in India, like the global apparel industry is growing manifold. Owing to the rapid urbanization and the fast growing population. The Indian apparel fashion products are accepted and appreciated worldwide. TheAII (Apparel Industry in India) has also widely supervised and garnered the growth and plans to expand the Indian apparel industry even more. The Apparel Industry in India not only expands the market and aims to meet new horizons, but is also a major contributing source of economy to the country. The apparel sector contributes 4% to the GDP, 14% to the Industrial production of India and provides occupation to 35 million people. After the mainstay of agriculture, the apparel industry is the second largest generator of employment, thus claiming to be among the main source of economy and improvement of…show more content…
In this economic scenario where the European Union and the U.S. market have still not recovered from the economic crisis of 2008, China and India would be the two leaders for the textile and apparel industry. The Indian and the world apparel industry are full of potential, with a lot of untapped market. The growth potential of this industry is very high where the demands of the purchasers are continually increasing. Where the technology innovation and the smoothening of the supply chain and the large marketplace, make this industry so lucrative, it the research that will guide the industry towards the right potential and help the consumers and the manufacturers attain more benefit. Understanding the multifarious minds of the consumer would strengthen the base of the industry. The research on the impact of the hedonic attitude of consumer, utilitarian attitude of the consumer and the involvement in fashion will facilitate the industry by better catering and delivering to the consumers what they demand for. Understanding the purchase intention on the basis of the above stated three factors would be the contributing factors for the

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