Apparel and Textiles: Introduction
The apparel and textile industry is centered around the manufacturing process of clothing articles. Clothing and accessories retailers and general merchandisers are the most visited type of establishments, making the output of this industry a high demand item. There is a massive consumer market just looking for ways to spend its money; as such, competition is stiff and innovation and technology are essential for success. Selling success depends on marketing techniques that are catered to consumer tastes.
The Apparel and Textiles industry is Fragmented. The production in this industry is divided among a few different companies, however, no single firm has large enough share of the market to be able to influence the industry's direction or price levels.
Primary Demand Drivers
- Consumer tastes
- Consumer demand
- Comparative costs of manufacture overseas
- Operational efficiency
- Securing contracts with clothing marketers
- Hiring professional local managers
- Focusing on a limited geographic region
- Specializing in certain product types