The New Face of Retail: Fast Fashion
Fast fashion has completely changed the game for retail apparel shopping in the United States. While fast fashion brands have seen enormous growth, traditional retail brands have seen huge declines. Stores like Banana Republic, J.Crew, and department stores have spent the last few years scrambling, trying to figure out how to compete in this industry.
A few factors that influence fast fashion’s huge advantage in the apparel industry include:
- Affordable pricing
- Quick response time from runway to store
- Limited production of items to keep them unique
- Continuously adding new inventory
- Up-to-date interpretations of hot runway looks
Women’s Apparel Industry Generates Billions
Globally, women’s apparel is an enormous industry that is continuing to grow. Worldwide, the clothing industry is expected to see double digit growth through 2020, growing by as much as 17.2%. As the millennial generation—which is bigger in number than the baby boomers—continues to get older and enter into prime spending years, their spending on clothing is expected to increase.
Indeed, apparel is the biggest sector in the entire retail industry, generating the most revenue. In 2013, women’s apparel sales equaled a whopping $116.4 billion, and that number is only going to grow. Women spend more than any other demographic on clothing and fashion, so investing in a clothing franchise is a smart way to tap into this industry.
Invest in a Clothing Boutique Franchise
Empower yourself and take charge of your career by investing in this exciting, expanding industry. Women’s fashion franchises offer you the opportunity to bring an amazing shopping experience to your community, while giving you the freedom of choice in your work. Apricot Lane is the fashion franchise opportunity you have been waiting for.
- Fast Fashion Still a Bright Spot in the Clothing Industry—BMI Research, Feb 21, 2016
- Succeeding in Tomorrow’s Global Fashion Market—McKinsey & Company, September 2014