Apparel and Textiles: Introduction
Companies in this industry create cloth by weaving, knitting, crocheting, or knotting.
Companies in this industry operate physical retail establishments that sell clothing and accessories.
This industry comprises establishments primarily engaged in spinning yarn, manufacturing thread of any fiber texturizing, and further processing into rope, fabric, or bags.
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
- Comparative costs of manufacture in the U.S. and overseas
- Efficient operations
- The ability to secure contracts with clothing marketers
From the Blog
In a world where everything is mass-produced and readily available, luxury brands are the gatekeepers of sophistication, the arbiters of style, and the purveyors of impeccable craftsmanship. From watches to handbags, these items with expensive price points and high demand make them difficult products to obtain. These goods are typically reserved for the select few, but the luxury consumer of the new generation, who has come of age in the era of the internet, displays new concerns for the industry.
The influence sustainability has on the global market is rapidly increasing. As more and more people value the environmental impacts of their purchases, demand for sustainable fashion is quickly increasing. Companies that incorporate sustainable initiatives into their products have the potential to grow significantly in the near future. As of 2022, 78% of consumers in the Netherlands incorporate sustainability into their purchasing decisions. Additionally, younger generations value sustainable products more than earlier generations, with Generation Z valuing them the highest. 75% of Generation Z value buying sustainable products over purchasing name-brand products.
- Hoovers (Date Accessed: 6/1/2017)