Apparel, Shoes & Textiles OVERVIEW
totaled $196.5 billion, according to the Bureau of the Census.
In addition, Plunkett Research estimates that 80% ($88.2 billion) of sales at department stores, as well as 60% ($30.6 billion) of sales at sporting goods stores were for apparel and shoes.
Assuming that 25% ($221.0 billion) of the goods sold via e-commerce in America consist of apparel, shoes and accessories, this would put the total retail and online clothing, shoes and accessories market in America at $501.3 billion. While Asia, particularly China, has enjoyed a dominant position in shoes, apparel and household textiles manufacturing for several years, makers of these items located in developed nations such as the U.S.
and Canada have suffered a long period of decline.
For example, roughly 98% of the shoes sold in America each year are imports, and the majority of these imports come from Asia.
To consumers in Europe and North America, this growing reliance on Asia as a low-cost producer has meant very low retail prices for goods of reasonable quality. However, recent increases in the cost of doing business in China have put Chinese manufacturers in a much less favorable position.
Competition from manufacturing based in very low-cost nations in Africa, as well as Vietnam, Indonesia, Sri Lanka, Mauritius, Malaysia, Cambodia, Bangladesh, Pakistan, the Philippines and elsewhere, is intense, and a large portion of apparel manufacturing formerly done in China