Clothing and footwear retail category is growing more significantly as this is the effective sector of the economy. The increase in disposable income and development in the economy with growing urbanization this category of retail is rising more efficiently. However, rising internet penetration and busy schedules in one life has fueled the growth of this market. The e-commerce platform is also playing significant role in increasing the demand of the product whereas, the key players are also doing technological development in the technology of product making which provide reasonable product to the consumer and resulted effected number of sales in the near future. In the recent trend, for meeting the demand of consumers more significantly the retailers are shifting from stores to the online platform in an aggressive manner. Moreover, the significant increase in the disposable income with the growing urbanization makes the market more competitive and fruitful and leads the noteworthy growth in the retailing of clothing and footwear product in the coming years.
According to the report analysis, ‘Clothing & Footwear Retailing In Ukraine, Market Shares, Summary & Forecasts To 2022’ states that some of the major companies which are currently functioning in this sector more significantly for attaining the highest share in the market and providing the product at a reasonable rate includes Ostin, Zara, Sportmaster, Argo, Colin’s, Adidas, Intersport, Kari, Celio, Bershka and several others. The key players are making so many effective strategies and policies for the related products and for increasing the sale the retailer are adopting the even pricing method which further fueling the growth of this category more significantly. Not only has this, the report also consists deep analysis of related sector, trends and segments of this category of retailing which includes latest trends of consumer behavior and shopping, consumer insights, market dynamics, comprehensive information of the major retailers in clothing and footwear category and several others.
The clothing and footwear accounted for 8.1% of total retail sales in 2017 and it is projected that in the forecast period it will grow at a CAGR of 6.2% during the period 2017-2022. Whereas, the Ukraine retail market is anticipated to grow at a CAGR of 4.7% during 2017-2022. The entrance of new international brands will also help in driving the sales of this sector in the near future. The population of large women ratio and enhancement in the disposable income are driving the sales of this category in Saudi Arabia. Moreover, the key player are effectively working in this domain which make the market more competitive and attract the new investors which can support the market financially whereas, the new entrants of footwear retailers is also operating the growth of this category more significantly. Whereas, in the near future it is expected that the various international retailers are planning to come in the Ukrainian market for gaining more profit and the Ostin is the largest player in terms of value sales in 2017. The specialists are losing the market share to online retail which is set to grow rapidly, as the online platform is providing varieties of product to the consumer. Therefore, in the coming years it is expected that the clothing and footwear retailing in the Ukraine will grow more significantly over the decades.
To know more, click on the link below:-
Ankur Gupta, Head Marketing & Communications