Product Innovation to Create Opportunities for the Winter Wear Market in Europe Through 2020, Reports Technavio

LONDON--()--Technavio analysts forecast the winter wear market in Europe to grow at a CAGR of close to 2% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global winter wear market in Europe for 2016-2020. The report segments the market by product type and on the basis of distribution channels. The report also presents a detailed description of the key players operating in the market.

Technavio consumer and retail analysts highlight the following three factors that are contributing to the growth of the winter wear market in Europe:

  • Product innovation
  • Celebrity endorsements
  • Increase in sales during festive seasons

Product innovation

According to Brijesh Kumar Choubey, a lead analyst at Technavio for apparel and textile research, “Product innovation is the primary factor that will drive the growth of the winter wear market in Europe during the forecast period. Manufacturers are innovating constantly in clothing and footwear in terms of quality, raw materials, designs, and textiles used. For instance, Columbia Sportswear has distinguished itself with several technological innovations.” The company’s Heatzone 1000 introduced in 2014 is one of the warmest outwear lines manufactured in the past few years. The company also has the OutDry range, which offers waterproof shoes and gloves. The gloves provide waterproofing and warming with ultra-premium Pittards goatskin and sheepskin leathers. The omni-heat thermal reflective and super-soft plush fabric of these gloves ensure that hands and fingers remain warm throughout the day.

Nike, one of the largest apparel makers at a global level, is also a pioneer in introducing innovative offerings in the market. Nike introduced a new workout gear called Therma-Sphere Max, which is designed to be used in cold temperatures. Such product innovations will drive the growth of the market over the next five years.

Celebrity endorsements

Marketing through celebrity ramp walks and endorsements is a well-established strategy for increasing brand visibility as well as garnering more interest from consumers. Celebrity models such as Kendall Jenner and Kate Moss have been associated with international brands for the launch of new collections. For instance, Mango signed Cara Delevingne and Kate Moss for its fall 2015 campaign.

Victoria Beckham also showcased her own line of winter clothing collection in 2015. Superdry, the British fashion brand collaborated with Idris Elba to showcase its Idris Elba + Superdry Menswear Collection for Autumn Winter 2015. Technavio expects such celebrity endorsements to significantly aid market growth over the next five years.

Increase in sales during festive seasons

Winter festivals are considered to be of prime importance for the market sales where consumer spending on products, including winter clothing and footwear, increases significantly. December is considered to be the most celebrated time of the year for consumers in Europe, with festivals like the Christmas and Thanksgiving. Consumers in countries like Germany, France, the UK, Austria, and Belgium spend heavily on Christmas shopping. For instance, in 2014, Germany recorded Christmas sales of approximately USD 3 billion while France recorded sales of USD 1 billion.

“Heavy discounts and end-of-season sales contribute significantly to the sale of the winter wear market in Europe,” says Brijesh. For instance, the Black Friday sale has become one of the biggest shopping events in the region in recent times. Most retailers operate during the overnight hours, offering promotional sales on different products. The Thanksgiving Day event and the Boxing Day events also generate high sales. Stock clearance and the end-of-season sale, usually held during the end of January and February, attract customers with heavy discounts.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the winter wear market in Europe to grow at a CAGR of close to 2% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com