The global women’s wear market has shown a good growth rate over the forecasted period. Fashion is one of the important aspects of women’s wear and it keeps on changing. It is very difficult for a company to establish itself in women’s wear segment due to the fast changing fashion style. In the women’s wear market brand loyalty and brand recognition are the keys for a successful business. There are various channels available where women’s wear can be purchased. These channels include department stores, boutiques, retailers, specialty stores and online. Global women’s wear market can be bifurcated into five categories: clothing, footwear, sportswear, accessories and others.
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Europe represents the largest market for women’s wear, closely followed by North America. Asia Pacific is expected to be the fastest growing market for women’s wear. Increasing promotional activity, rising disposable income, increasing consumer confidence and increasing shoppers eagerness to keep up with the latest fashion trends are some of the major driving force for women’s wear market. With the lower effect of economic recession, employment rate and disposable income levels are rising, which allows the consumer to spend more on apparels. Thus increase in the confidence level of consumer which allows them to spend money easily. According to the National Bureau of Statistics China, annual per capita disposable income of urban households in China increased from USD 2,271.0 in 2008 to USD 3408.5 in 2012. The overall annual disposable income in India medium household income increased from USD 1,366.2 billion in 2010 to USD 1,587.6 billion in 2013.
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Some of the major companies operating in the women’s wear market include GAP Inc., H & M Hennes & Mauritz AB, The TJX Companies, Inc., Marks and Spencer Group plc, Benetton Group, Pacific Brands Limited, Etam Developpement, Fast Retailing Co., Esprit Holdings Limited, Aoyama Trading Co., Mexx Group, Arcadia Group Limited, NEXT plc and Nordstrom, Inc.