Woven Insights’ Post

https://www.stellarmr.com Exciting Growth in the Premium Apparel Market! In 2023, the Premium Apparel market was valued at an impressive USD 422 Billion. With a projected CAGR of 3.8% from 2024 to 2030, the total global revenue is expected to soar to nearly USD 547 Billion by 2030. This growth highlights the increasing consumer demand for high-quality, luxury clothing and accessories. It's an exciting time for the fashion industry, and we can't wait to see what innovations and trends will emerge in the coming years. #FashionIndustry #MarketGrowth #PremiumApparel #BusinessTrends #Innovation

The US fashion resale market 👗 has evolved from a single-billion-dollar market in 2008 to a $28.8 billion market in 2023 📣 . We expect the market to total $30.4 billion in 2024, representing 5.7% year-over-year growth. However, it is a market with slower growth, 5.3% expected in 2025, 4.8% in 2026 and 4.3% in 2027. And, profitability remains uncertain despite some positive signs. Check out #Coresight's insight report (https://lnkd.in/eM69ESVq) on fashion resale and view exclusive survey data: #Poshmark saw the biggest increase in usage 🔎 and The RealReal experienced a 4-PPT decrease in usage.

Fashion resale is on the rise. I read an interesting article from The Business of Fashion about the resilience of the resale segment. Sarah Kent notes its upward trajectory, with total gross merchandise value within resale expected to more than double to USD 44BN by 2028, outpacing the wider apparel sector. Nowadays, even cheaper products can boast good quality. The increasing popularity of fashion & apparel resale platforms ties neatly with the industry’s ongoing sustainability story. By purchasing resold items, people can satisfy their consumption habits at a smaller environmental impact than if they purchased brand new goods. What do you think about the resale space? #Resale #Fashion #Apparel #CircularEconomy Source: https://lnkd.in/ehtHNAFm 

Secondhand fashion is experiencing explosive growth. U.S. online fashion resale volume is projected to nearly double by 2026, reaching $23.92 billion, according to eMarketer. This trend extends globally, with the secondhand apparel market expected to hit $350 billion by 2027, growing at a rate three times faster than the overall global apparel market, according to ThredUp. Driving this surge are younger generations—83% of Gen Z have already shopped or are open to shopping for secondhand apparel, with younger generations expected to account for nearly two-thirds of incremental secondhand spend as their purchasing power increases. This shift is not just about budget consciousness; it's a reflection of changing values, with 47% of Gen Z refusing to buy from non-sustainable apparel brands and retailers. [Note: This is from our July newsletter. We're about to send out August! You can subscribe at http://www.tmrwandtmrw.com.] Photo: https://lnkd.in/gMsFsqiQ #retail #strategy #genz

In 2023, global demand for apparel saw a robust rebound, marking a significant post-pandemic recovery. 🌏 👚 As the largest segment in fashion e-commerce, global apparel e-commerce revenue is projected to hit $642.1 billion by 2024, representing 64.8% of fashion e-commerce revenue. Women's apparel is leading the charge, accounting for more than half of the global apparel market and growing rapidly. Together with men's and children's apparel, they're driving the overall increase in global fashion consumption. #FashionEcommerce #GlobalApparel #FashionIndustry #EcommerceGrowth #WomensFashion #MensFashion #ChildrensFashion #FashionTrends #ApparelMarket #FashionRecovery #PostPandemicGrowth #EcommerceTrends #GlobalFashion #FashionBusiness #ApparelRevenue

In 2023, resale grew 15x faster than the broader retail clothing sector. Recent Resale Report shows some promising shifts towards a more circular fashion ecosystem. Here are the main takeaways👇📝 → 52% of consumers shopped for secondhand apparel in 2023. → 63% of consumers who bought secondhand apparel in 2023 purchased online. → 20% of consumers who prefer to buy secondhand prefer to buy secondhand directly from a brand’s website. What are your thoughts? Let us know in the comments👋

Global Fashion Group reported a Q1 FY24 NMV of €239 million (~$256.2 million), down 16.5 per cent YoY, with orders falling 18.1 per cent. Despite regional challenges, gross margin rose to 44 per cent. GFG reaffirmed its 2024 guidance, expecting an NMV decrease of 5-15 per cent. Adjusted EBITDA is projected between minus €25 million and minus €45 million. #Fibre2Fashion #f2f #apparel #textile #fashion #textileindustry #f2fnews Read more here: https://lnkd.in/dDbNin86

Online fashion retailer Global Fashion Group has posted a double-digit slump in revenue for the fourth quarter amid declines in both net merchandise value (NMV) and active customers. #InsideRetail #Retail #retailnews #fashion #retailer #decline #value

Second-hand clothing big business in US and UK, Global Fashion report finds ▶️ 42% of US shoppers have purchased at least one item of 2nd-hand clothing in the past year, 📈 It is valued at $43.9bn in 2024 in the US alone via @etail #ecommerce #commerce #marketplace #B2C https://buff.ly/3Jy9Fde

U.S. Fashion eCommerce Market to Reach $248.07B by 2030 with 12.6% CAGR The U.S. fashion eCommerce market size was valued at $108.10Bn by 2023 and is expected to reach $248.07Bn in 2030, growing at a compound annual growth rate