From sportswear to business attire, discount to luxury, many different categories and segments make up the apparel market. Many of these categories are worth billions of dollars in their own right. In 2021, the revenue of the global apparel market reached 1.5 trillion U.S. dollars, and the industry continues to show positive growth. Revenue was estimated to rise to almost 2 trillion dollars by 2026. Within this vast global market, the United States had the largest apparel market of any country in 2021.
U.S. apparel market
The revenue of the United States apparel market was valued at approximately 318 billion U.S. dollars as of 2021, with leading retailers such as TJX and Macy's each bringing in over 20 billion U.S. dollars in sales. Specialist store-based clothing retailing was valued at over 300 billion U.S. dollars in 2021, while e-commerce brought in over 180.5 million U.S. dollars of revenue in the same year. As the internet increasingly influences social and economic activities, the e-commerce market for retail goods is expected to grow steadily. In contrast, employment within the United States' apparel manufacturing industry decreased rapidly over the past several decades as manufacturing sectors generally transitioned to other regions in search of cheaper labor.
In terms of apparel brand companies, the industry has several heavyweights, many of which are based in the United States. The TJX companies, Nike, and The Gap all generate the majority of their revenue within the U.S. retail market. The U.S. apparel market is always changing, attempting to adapt to customer trends and new technology that will allow consumers' shopping experiences to be more enjoyable.
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