Franchise Spotlight: Clothing and Accessories
Clothing and Accessories industry trends show that this is a sector teeming with franchise opportunity.
The clothing and accessories industry is hugely varied and offers an exciting range of franchise opportunities. There are a wealth of niche areas which businesses have taken advantage of, from plus size clothing, children's clothing and sports-wear, to eco-friendly materials and products. In 2019, global retail sales reached a staggering $1.9trillion and e-commerce alone brought in over $100 million of this revenue.
For franchisees who are looking to capitalize on the trend for ‘nearly new’ clothing (helping to promote the reduce, reuse, recycle movement), businesses such as Plato’s Closet or Clothes Mentor offer a more sustainability-friendly opportunity.
For those interested in selling sportswear, Pro Image Sport have a strong brand identity and a good following of customers, offering franchisees a relatively small financial investment which promises to be low risk.
Clothing and Accessories Industry Analysis
Global retail sales of clothing and footwear are expected to rise to above three million U.S. dollars by 2030 (Statista), making this industry an exciting and lucrative one to enter. With the challenges of a competitive market place, a franchise can offer that all-important support as well as a recognized brand name for new franchisees.
The clothing and accessories industry is fast-changing as it needs to keep pace with new fashion trends and technology to enable quicker, easier and more user-friendly ways to sell and buy. There is no doubt that companies need to be up to date with their social media presence, as well as managing their online shopping platform to ensure customer satisfaction at every click.
Those interested in franchising in this market will need excellent customer service skills and communication - after all, you can’t afford too many bad reviews in the age of social media. Franchisees need to be adaptable and ready to respond to changes in trends and seasonal fashion updates. There is no doubt that this is a profitable sector to be a part of and one that looks set for a bright future.