The Consumer Goods and Retail industry, encompassing sub-industries such as Consumer Goods and Retail, Fashion and Apparel, and Textiles, is a dynamic sector experiencing substantial growth. The global consumer goods market is projected to reach $13.8 trillion by 2025, growing at a CAGR of 7.3%, driven by increasing consumer spending and e-commerce expansion. The fashion and apparel market is expected to hit $1.7 trillion by 2023, with a CAGR of 5.5%, fueled by fast fashion and rising disposable incomes. The textiles market, essential for both fashion and other industries, is forecasted to reach $1.2 trillion by 2025.
29%
Companies are now leveraging AI to enhance customer experiences by providing personalized assistants that recommend additional items and combinations. This technology has led to a significant increase in revenue for retail and apparel establishments that have implemented it.
4.6%
Utilizing technology like VR is transforming consumer buying habits and driving increased sales across various sectors. Discover how to implement effective phygital strategies for your business.
56%
The fashion industry is notoriously one of the most polluting sectors in the world. However, new technologies are emerging to address these environmental challenges. Discover the latest advancements aimed at reducing the carbon footprint of the apparel industry.
