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Fung Global Retail and Technology Releases “Deep Dive: US Consumer” Survey Results

July 25, 2017

Fung Global Retail and Technology just published a deep dive report into US consumer trends. The report, which can be found here, yielded 3 key findings:
  1. The majority of womenswear consumers are omnichannel shoppers, with 73.0% of surveyed women purchasing apparel from both online and offline channels in April 2017.
  2. Amazon womenswear customers have almost doubled over the past four years. Some 23.2% of women surveyed bought womenswear from Amazon, but only 1.9% purchased womenswear most often from the online retailer.
  3. While Amazon is competitive in terms of price and selection, according to consumers, Kohl’s promotions remain appealing, while Macy’s has an edge on quality and style.

Who is shopping?

The report states that the US apparel market grew at a modest compound annual growth rate (CAGR) of 2.2% from 2011 to 2016, and was valued at US$274 billion in 2016.

About half of US apparel is womenswear, and “the share of womenswear relative to the total market size has remained stable over the past five years.” According to data from Euromonitor, “this category is expected to grow at a CAGR of 3.1% on average through to 2020 to reach US$149 billion.”

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To call out an interesting point, the survey results show that “womenswear customers are shopping at fewer retailers compared with four years ago.” It also says that “those who purchased womenswear in the 90 days prior to April 2017 did so from 4.2 retailers on average, down from 4.5 retailers on average in 2013.”
 
So who are top retailers for womenswear? According to results, “Kohl’s remained the top destination for womenswear shopping, with 26.1% of those surveyed making a purchase at the retailer in the three months prior to April 2017.”

To read the full report visit here, and to learn how the growth of online shopping is impacting return rates, visit here.