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Lifestyle Trends Worldwide Mark Interesting Changes in the Designer Wear Market, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) January 13, 2012
Follow us on LinkedIn ? Changing lifestyle trends are presenting a rich mixture of challenges and opportunities in the global designer wear market. Consumer preferences in this market are skewed towards materialistic features rather than functional performance. Psychological benefits such as, prestige, status symbol, esteem and exclusivity are critical need factors. Therefore, product features such as premium pricing, craftsmanship, coveted designer brand status, aesthetic appeal, and superior quality are factors that drive gains in the marketplace. Although typically dominated by the developed economies, shifting regional demographics in the developing countries are triggering disproportionate growth. Illustrative of the trend is China where a small yet wealthy section of the population is helping drive most of the growth witnessed in the domestic market.
The global market for designer wear is currently expanding out of the chic wardrobe closets of the European, American and Asian multimillionaires to adorn the wardrobes of the ordinary rich classes. The industry in the developed world is expected to increasingly rely on developing countries of South Asia such as India, China, Bangladesh, and Pakistan for sourcing raw materials and semi finished products. This is mainly due to the rise in production costs in the developed countries. Online direct delivery of designer wear is fast catching up with companies driven by growing use of the Internet by the consumers. As a result of globalization, brands, which were earlier manufactured only in select domestic markets, and retailed through directly-owned stores, are today manufactured in all major countries worldwide and have wider retail coverage as a result of brand licensing.
A major trend amongst the international designer brands presently is the launching of online designer wear stores. Online retail segment is currently witnessing an upsurge in the number of branded labels, with reputed designer wear lines such as Burberry, Gucci, Coach, BCBG Max Azria and Michael Kors foraying into online marketing. Online stores provide luxury brands with the privilege of connecting to a large audience pool, which is ultimately reflected in their increased sales revenues. Moreover, shopping for designer brands online is advantageous as a number of on-line retailers provide discounted rates for branded clothing.
Adult fashion is increasingly influencing children?s wear. Dressing up kids in trendy designer wear has been popularized by wealthy parents wanting to reflect their sense of fashion in to their kids. Apparently, price does not seem to be an issue for the super rich in the US when it comes to dressing up their children in best quality designer wear. The trend is highly popular in the US compared to other parts of the world. Parents are opting for the latest designer wear for their children. As a result, several apparel retailers have shifted their business focus from women’s wear and men’s wear to children?s wear. The worldwide economic recession also pushed many designer labels into developing kids? designer wear, as a means to sustain the economic turmoil. European street fashion is fast picking up Arabian fashion. With Arabian fashion gaining acceptance the world over, and leading designers showing great interest in the same, the ?Muslim fashion industry? has opened a new door of opportunities.
The research report titled ?Designer Wear: A Global Outlook? announced by Global Industry Analysts, Inc., provides market briefs, and concise summaries of regional trends. The report offers an aerial view of the world designer wear industry, and identifies major trends and growth drivers. Regional markets elaborated upon include United States, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.
For more details about this comprehensive industry report, please visit ?
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world?s largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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Global Industry Analysts, Inc.
Web Site http://www.strategyr.com/
New York (NYSE) eleven August 2009
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