An article from the Textile World. Highlights:
- The global apparel retail industry grew by 3.4% in 2011 to reach a value of $1,175,353.1 million. In 2016, the global apparel retail industry is forecast to have a value of $1,348,098.8 million, an increase of 14.7% since 2011. Americas accounts for 36% of the global apparel retail industry value.
- Technlogy is changing consumers’ shopping behavior as well as preferences (such as redefining value of products). The internet, smartphones and social networking are driving the apparel industry to a greater extent than ever before.
- “Made in USA” is attracting consumers, however, to be more accurate, it means “source in the Western Hemisphere” rather than moving manufacturing totally back in the U.S.. However, in order to have “near sourcing” happen, addtional trade liberalization is required to remove the so much constraints.
- Supply chain transparancy and cooridnation is with growing significance to the success of business in the apparel companies.
- The only constant in the apparel industry is change (enviorment, business model, product innovation, technology…).
FASH455 Global Apparel & Textile Trade and Sourcing 