The competition in the global Fast Fashion market is dominated by the four big players, Zara, H&M, Gap, Inc. and Uniqlo. Further, key players in the market such as Zara, H&M, Uniqlo and Gap, Inc. are also profiled with their financial information and respective business strategies explained.
Research By Markets adds "Global Fast Fashion Retail Market with Focus on The United States (2017-2021 Edition)" to its online repository. This report provides an in-depth analysis of the global fast fashion retail market by value and by volume.
The report provides a regional analysis of the fast fashion market of the United States. The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry.
Growth of the overall global fast fashion market has also been forecasted for the period 2017-2021, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
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Fast fashion is the delivering of latest runway trends but at a minimal pricing and low maintenance cost; thus having a mass appeal. In other words fast fashion refers to the ability to capture the latest fashion trends and bring them to public as quickly as fast food.
The fast fashion has risen from ‘out-of-the-box' thinking that departs from convention, which includes a shift from planned production to quick response production, shift from local business to global business, a shift from following trends to leading trends, and a shift from media centric marketing to spatial marketing. The major advantages of fast fashion are short production time, more styles and lower quantities.
The disadvantages of fast fashion are imitation of original products and false price notion.
The global fast fashion market has increased at a significant CAGR during the years 2005-2016 and projections are made that the market would rise in the next four years i.e. 2017-2021 tremendously. The fast fashion market is expected to increase due to growth in media development, increase in expenditure on fast fashion, growing youth population and growth of emerging economies.
Yet the market faces some challenges such as, decline in spending on apparel, inventory management, perishable and volatile demand.
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