Online Retailing to Shape the future of Womenswear Market in Spain: Ken Research
Posted on 06 November 2017 by KenResearch Consumer Products and Retail,
Spain is a country that is contemplated to be sturdy in its art, culture, music and cuisine. One of the most popular festivals in Spain named ‘Tomatina festival’ tells largely about evolution in the fashion trends that has taken place in the country. Spain had inspired many countries around the globe with its fashion styles back since the 16th century, mainly via its decorated work and sober designs. Spanish traditional clothing was primarily influenced by the Moorish culture, which was famous for rich embroideries and led to the advent of usage of needles accompanied with use of complements like -jewels, perfumes, heavy girdles and collars. At that time, clothing in the country was majorly made of heavy and rich fabrics and black color was highly preferred for special events, by both men and women of the country.
Spanish fashion has come a long way and is really vast and diverse currently, ranging from traditional costumes to the ever developing contemporary fashion styles for both women as well as men. This fashion industry besides being innovative is also creative. A great instance that proves the same is- the youth’s favorite brand ZARA that has managed to popularize the concept of dressing up well at affordable prices. Other famous companies like MANGO, Desigual, among others, account for a significant position in the fashion world of this country. Modern Spain very well follows the recent fashion trends and at the same time, respects the traditional costumes like- Mantilla, Gilet, and Peineta which are still worn by many people on auspicious occasions.
Taking in consideration the womenswear market in Spain particularly, it primarily comprises of outfits such as- Women's Nightwear, Women's Outerwear, Women's Swimwear, and Women's Underwear.
According to the report, “Womenswear in Spain”, the country’s apparels market had started to recover from the negative sales when the economic scenario ameliorated in the year 2014. However, again in 2016, the performance of the apparels market has been observed to be lower than that of previous year mainly because of the political uncertainties that have negatively impacted the consumption levels of the country. Anyway, it has not affected the womenswear market much in particular, since an increase in the market has been witnessed in both volume and value terms. It has well managed to persistently register an affirmative development due to the healthy economic recovery and great levels of substitution of old items with new purchases being made by the women who are ready to shop anytime if they find the upcoming trend appealing. For instance, even some of the Bollywood actresses have been witnessed wearing trendy outfits at The IIFA Awards 2016 which are stimulated by Spanish fashion trends.
The brand named Zara España SA has successfully topped the womenswear market in the country having a substantial value share. The company’s success is primarily due to the fame and popularity of the Spanish GBO Inditex, Industria de Diseño Textil SA, which have further reckoned for a significant amount of value share in the market. Aside from Zara, this GBO also owns the brands named- Bershka, Stradivarius, Massimo Dutti, Oysho, Pull & Bear, Lefties and Uterqüe.
The three brands namely- Inditex, Primark and H&M have recorded an indispensible share of retail value sales despite the market being largely scattered. They are continuing to gain shares and are amalgamating their leads in all categories where they can compete well. By making a vast portfolio of clothes available at reasonable prices and in accordance with the latest actual trends in the best locations of the main cities, these retailers have demonstrated that they deeply understand how to satisfy the needs of Spanish consumers and prosper as a result.
It has been noticed that a large number of companies are persisting to launch their own web shops and informational websites and thereby focus on consumers through mail orders and online retailing since they are becoming increasingly aware of the advantages that are offered by these channels. Not only this, the rate of consumption is also improving with the passage of time and women are willing to buy the latest trendy fashionable outfits with bettering disposable incomes year after year. Additionally, the services offered by online shopping like- free delivery, larger sizes (usually not easy to find through physical stores), and better purchasing experience makes it to be one of the major reasons that will help the market proliferate in the coming years. The graph below depicts ‘the total revenue in the market through online retailing and mail orders’ and it highlights the fact that in 2014, when the economy was recovering; maximum orders were received by the market. Also, in comparison to 2012 and 2013, the years 2015 and 2016 have recorded much better amount of revenues which depicts that online mode is sure to help the market grow with bettering revenues in the coming years.
Womenswear market is anticipated to register a constant value growth in the future years accompanied with a controlled growth expected in the average unit prices. Majorly, the growth is foreseen to be engendered by the fast-fashion retailers who will undoubtedly gain additional share due to more affordable pricing techniques. They are also capable of expanding their offers, with the opening of more number of stores and flagship stores in the most important locations of larger and medium-sized cities in Spain in the coming years.
Moreover, the extensive online availability of womenswear products, reviews, deals, price comparisons and other information will further continue to persuade Spanish women to keep on experimenting internet retailing experience which will ultimately result in a favorable effect on the market’s performance in the future.
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