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Thursday, 27 June 2019 12:19

Winter wear revenue growing at five per cent

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Global winter wear market is growing at 5.8 per cent. Favorable trade policies, growing apparel production globally, rise in per capita income, favorable demographics, and shifting consumer preference for branded products are boosting demand for winter wear. Another factor is the growth of e-commerce. Over the years, there has been a drastic change in consumer behavior and consumers are shifting towards seeking products online, and purchasing various products, such as FMCG products, clothes, and others, through e-commerce. Besides the size of population and per capita spending, other key factors driving the growth of the winter wear market are population density, downstream industry effectiveness, and changing economic policies as well as business legislation. What also helps is the abundant availability of raw materials such as wool, silk, cotton, and others in developing countries for the production of apparels and other textile products.

Companies across the globe are focusing on the launch of new products with fashion and quality along with expanding their market presence through establishing new manufacturing facilities as well as sales channels to reach potential customers. Manufacturers have adopted various key differentiation strategies to have a competitive edge vis a vis their competitors. Winter wear for instance have heating systems and can be voice controlled.