The apparel market today is worth around $1.3 trillion in retail sales globally.
Since 2013, KFP's largest customer base has been made up of 80% apparel retailers and this is still true today.
Understanding fashion retail and how IT impacts everything from customer experience to a new store opening is so important and something that KFP are proud of being experts in.
Our heritage and reputation is built on supporting fashion brands with the entire IT experience from opening brand new apparel stores, back of house & tech upgrading, to wireless installation and technical support.
KFP has been so successful because of our comprehensive understanding of apparel and the competitive nature in which it operates. With the growing demand for new fashion trends and competition for customer loyalty, getting apparel fashion right is vital.
KFP's experience in this sector is one of the main reasons why 8 of the largest global fashion brands rely on KFP to deliver its IT services in-store.
Apparel fashion is far from dead, in particular, womenswear making up for more than half (53%) of global retail spending – or roughly $689 billion.
- The global apparel market – not including footwear or jewellery – is worth $1.34 trillion a year in retail sales
- Womenswear accounts for more than half (53%) of that spending
- Ten national markets dominate retail, notching up 69% of all fashion sales, with the USA and China seeing the most spending
- India is seeing the largest growth in apparel sales
In apparel, it's not all doom and gloom, by 2021, the global apparel retail market is forecast to reach $1.4 trillion, an increase of around $106 billion or 8.1% since 2016.
As apparel specialists, we can provide you with a full-service stack whether you're looking to rollout the latest EPOS systems, refresh IT in-store and back of house, or you are looking for an IT partner to support with 1st and 2nd line support, KFP can help.
If you're interested in finding out more, why not get in touch with one of the team today?
1. Market research provider, Euromonitor International
3. Market research provider, Euromonitor International