Apparel and footwear specialists in South Korea is set to see a current value decline in 2025, although is expected to return to low growth for the rest of the forecast period. High inflation and economic downturn are expected to lead to a decline in consumer spending in the near term, with apparel and footwear likely to be one of the categories to see reduced purchases.
Despite the declining birth rate, there are likely to be opportunities for growth for apparel and footwear specialists offering childrenswear. This is expected to be driven by the fact that the market for luxury childrenswear exclusively designed for preschoolers is set to continue expanding, despite challenges in the broader fashion industry.
In the forecast period, growth in apparel and footwear specialists is expected to be hampered by competition from other retail channels offering such products. For instance, some convenience stores are now offering apparel, following their successful expansion into the beauty category.
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Understand the latest market trends and future growth opportunities for the Apparel and Footwear Specialists industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Apparel and Footwear Specialists industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Apparel and footwear specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: clothing, footwear, and/or fashion accessories (costume jewellery, sunglasses, belts, hats, gloves, handbags, scarves, etc.). Apparel specialists include specialty apparel like wedding dress shops. Example brands include Primark, TJ Maxx, and Zara. Sportswear retailers, such as Adidas and Nike, are excluded from this channel and are included in Sports Goods Stores; this is due to the companies considering themselves sports companies as opposed to apparel companies.
See all of our definitionsThis report originates from Passport, our Apparel and Footwear Specialists research and analysis database.
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