GIA (Global Industry Analysts, Inc.) announces the release of a comprehensive global report on the Children’s Wear markets. The global market for Children’s Wear is projected to reach US$156.8 billion by the year 2015, driven by the frequent need to purchasing new clothing to address the requirements of growing children. Rising income levels, trend towards nuclear families, and parental desire to offer the best to their children is likely to foster market growth.
Children’s wear market is among the most lucrative segments in the global apparel industry. Though the global economic meltdown has significantly affected growth prospects in the retail industry, the children’s wear segment has exhibited considerable resilience to the adverse market conditions, as against the men’s wear and women’s wear categories. The market is influenced by factors such as transforming consumer preferences, customer profiles, parents and children’s influence on buying patterns, and availability of greater choice. Future growth in the market is also dependent on factors such as brand-related investment, design elements, and ethical developments.
In order for a kids’ wear company to succeed in China, there are internal and external factors that need to be considered. The internal factors include the multi-culture management, offering fashionable products, availability of greater choice, design elements of the current trend of North American, the programs of product development, gift shopping trend and low-price marketing. External factors influenced by the factors such as the requirements of growing children population in China, income levels and disposable income of customers are rising, the consumers favor foreign brands of apparel, develop new strategies through high technology and cooperation, parental desire to offer the best to their children, children play a significant role in influencing parental decisions pertaining to purchase of kids wear, and knowledge among the parents and children about brands and broadened their perspectives.