In February 2025, the UK inflation rate was 2.8 percent, with prices rising fastest in the education sector, which had an inflation rate of 7.5 percent. In this month, prices were rising in all sectors, with the exception of clothing and footwear. The inflation rate for services as a whole was five percent, while for goods, prices grew by 0.8 percent. UK inflation falls in 2024 After reaching a peak of 11.1 percent in October 2022, the CPI inflation rate in the UK gradually declined over several months, falling to a low of 1.7 percent by August 2024. An uptick in inflation has occurred since that month, however, and by the end of the year inflation was at 2.5 percent above the Bank of England's target rate of two percent. Going into 2025, recent forecasts suggest that over the course of the year, inflation will average out at 2.6 percent, with the two percent target not met on an annual basis until at least 2029. Roots of the inflation crisis This long period of high inflation that the UK and much of the world experienced had its roots in the post-pandemic economic recovery of 2021. During that year, as consumer demand returned, global supply chains struggled to return to full capacity, resulting in prices rising. With inflation already elevated going into 2022, Russia's invasion of Ukraine added even more inflationary pressures to the global economy. European markets which were heavily reliant on Russian oil and gas gradually phased out hydrocarbons from their economies. Food prices were also heavily impacted due to Ukraine's difficulty in exporting its agricultural products.
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According to Cognitive Market Research, The Global Sustainable Fashion market size is USD 7915.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 23.50% from 2024 to 2031.
North America Sustainable Fashion Market held 40% of the global revenue with a market size of USD 3166.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.7% from 2024 to 2031.
Europe Sustainable Fashion Market held 30% of the global market size of USD 2374.56 million in 2024.
Asia Pacific Sustainable Fashion Market held 23% of the global revenue with a market size of USD 1820.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 25.5% from 2024 to 2031.
South America Sustainable Fashion market held 5% of the global revenue with a market size of USD 395.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.9% from 2024 to 2031.
Middle East and Africa Sustainable Fashion Market held 2% of the global revenue with a market size of USD 158.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.2% from 2024 to 2031.
The sales of apparel are expected to increase due to shifting consumer preferences towards sustainable and versatile clothing options, coupled with innovative designs and increased accessibility through various sales channels.
The sales of women's apparel are anticipated to rise owing to evolving fashion trends, increased purchasing power, targeted marketing efforts, and a growing emphasis on inclusivity and diversity in fashion.
Growing Consciousness about Environmental and Social Issues to Increase Sales
The growing consciousness about environmental and social issues is becoming a significant driver in the sustainable fashion market, leading to increased sales. As consumers become more aware of the detrimental effects of traditional fashion practices on the planet and society, they are actively seeking out eco-friendly and ethically produced alternatives. This heightened awareness has sparked a shift in consumer behaviour, with individuals increasingly prioritizing sustainability in their purchasing decisions. They are willing to invest in clothing that aligns with their values, such as garments made from recycled materials, organic fibres, or produced under fair labour conditions. Consequently, fashion brands that embrace sustainable practices and communicate their commitment to environmental and social responsibility are experiencing a surge in sales, as they cater to a growing market segment seeking ethical and eco-conscious fashion choices.
Shifts in Consumer Values Towards Ethical Consumption to Propel the Growth
Shifts in consumer values towards ethical consumption are significantly propelling growth in the sustainable fashion market. As consumers increasingly prioritize transparency, accountability, and sustainability in their purchasing decisions, they are driving demand for ethically produced clothing. This shift is fuelled by a desire to support brands that uphold ethical labour practices, minimize environmental impact, and promote social responsibility throughout the supply chain. Consumers are seeking out garments made from eco-friendly materials, such as organic cotton or recycled fibres, and are willing to pay a premium for products that align with their values. Additionally, the rise of social media and digital platforms has facilitated greater awareness and discourse around sustainability issues in the fashion industry, further driving consumer demand for ethical alternatives. As a result, fashion brands that embrace ethical practices and incorporate sustainability into their business models are experiencing significant growth opportunities, as they cater to an increasingly conscientious consumer base.
Advancements in Materials Drives the Sustainable Fashion Market
Market Restraints of the Sustainable Fashion
Resistance from Traditional Players to Slow Down the Overall Transition Towards Sustainability
Resistance from traditional players in the fashion industry poses a significant challenge to the overall transition towards sustainability. Established brands often face pressure to maintain profitability and may be reluctant to invest in costly changes to their production processes or supply chains. Additionally, there may be a lack of incentive to shift towards sustainability if consumers continue to prioritize low-cost...
Companies involved in the wholesale of clothing and shoes are facing intense competition from e-commerce providers, verticalised fashion retailers and discounters that sell private label items at rock-bottom prices. This has recently been exacerbated by lower demand from end consumers due to the pandemic, supply chain problems and rising rental and energy costs. In the period from 2019 to 2024, the industry recorded an average increase in sales of 1.2% per year. Changing consumer preferences also contributed significantly to this. There is a trend among consumers towards fast-changing, inexpensive clothing, so-called fast fashion, but also towards buying more durable and more expensive items of clothing. In the current year, sales are expected to increase by 1% and stabilise at around 36 billion euros. This is primarily due to the rise in sales prices and the increased consumer sentiment.A major challenge for the industry is the increasing popularity of mail order and online retail. On the one hand, this offers industry players the opportunity to expand their own online trade; on the other hand, it increases competitive pressure, as large online retailers can bypass wholesalers and purchase their goods directly from producers, thereby competing directly with wholesalers. An increase in gross domestic product and the number of people in employment, on the other hand, has a positive effect on sales generated with clothing and shoes, as this also increases the willingness to consume. Consumer spending on clothing and shoes is therefore expected to increase in the current year. Another risk for the industry, however, is the increasing environmental awareness of consumers. Environmentally conscious people are wearing their clothes for longer and buying second-hand goods more often, which leads to a drop in sales. However, consumers' growing environmental awareness also makes it possible to focus the business more on quality criteria and sell products at higher prices.In the coming years, sales generated with clothing and shoes should continue to develop positively. However, this will require the successful integration and application of modern technologies such as automated warehouse systems or predictive analytics in supply chain management. For the period from 2024 to 2029, IBISWorld accordingly expects an average annual increase in industry turnover of 1% to 37.9 billion euros.
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China YiWu Small Commodity Price Index: Apparel & Accessory: Fashion data was reported at 99.870 Jul2006=100 in 22 Jul 2024. This records a decrease from the previous number of 99.880 Jul2006=100 for 15 Jul 2024. China YiWu Small Commodity Price Index: Apparel & Accessory: Fashion data is updated daily, averaging 100.420 Jul2006=100 from Sep 2006 (Median) to 22 Jul 2024, with 869 observations. The data reached an all-time high of 112.800 Jul2006=100 in 19 Nov 2007 and a record low of 88.580 Jul2006=100 in 03 Nov 2008. China YiWu Small Commodity Price Index: Apparel & Accessory: Fashion data remains active status in CEIC and is reported by Yiwu City Government. The data is categorized under China Premium Database’s Business and Economic Survey – Table CN.OQ: YiWu Small Commodity Price Index: Weekly.
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South Africa Manufacturing Survey: TF: Rate of Increase: Average Total Cost: Realized data was reported at 76.000 % Point in Dec 2018. This records an increase from the previous number of 69.000 % Point for Sep 2018. South Africa Manufacturing Survey: TF: Rate of Increase: Average Total Cost: Realized data is updated quarterly, averaging 62.000 % Point from Sep 1987 (Median) to Dec 2018, with 126 observations. The data reached an all-time high of 97.000 % Point in Sep 2008 and a record low of 15.000 % Point in Mar 2004. South Africa Manufacturing Survey: TF: Rate of Increase: Average Total Cost: Realized data remains active status in CEIC and is reported by Bureau for Economic Research. The data is categorized under Global Database’s South Africa – Table ZA.S013: Business Survey: Manufacturing: Turnover Weighted: Textiles, Clothing and Footwear.
Clothing, textiles and footwear wholesalers’ revenue is forecast to sink at a compound annual rate of 5.3% over the five years through 2024 to €255.2 billion, including an estimated drop of 2.9% in 2024. The average profit margin is expected to reach 7.6%. The shift to online retail, led by giants like Amazon and eBay, has shocked wholesalers' revenue, as these e-retailers source directly from manufacturers. Now forced to innovate, wholesalers are building stronger ties with manufacturers and adopting advanced supply chain practices to stay relevant. However, price reductions to prevent wholesale bypass have hit profit. The COVID-19 pandemic led to a drop in revenue for Europe’s wholesale industry in 2020 due to supply chain disruptions and tumbling demand. In the UK, wholesalers are combating record inflation rates and intense pricing demands by reducing the workforce and introducing automation. Revenue is forecast to grow at a modest compound annual rate of 1.9% over the five years through 2029 to €281.1 billion, as competition from retailer bypasses will intensify. Sustainability efforts and technological advancements will reshape the fashion and clothing wholesale industry. Adidas and Bestseller Group are leading an eco-conscious shift, committed to using only sustainably sourced cotton and more recycled polyester. Robotic process automation is making headway in Germany's clothing wholesale sector, eliminating repetitive human tasks and enhancing business capacity to meet specific customer requirements.
Over the past decade, online spending has seen a steady increase in Austria. From 2021 to 2022, there was a sudden increase of over 1.5 billion euros. 2023, was, in fact, the first year since 2006 that saw a decline in e-commerce spending, this could be due to sharp inflation that the country experienced in 2022 and 2023. Fast fashion Perhaps unsurprisingly, the most popular categories for online shoppers were clothing and apparel, along with electronics and household goods. Online fashion stores are frequented by many people who shop online because of the vast choice of items as well as the often quick turnover of items. Although this business model is unsustainable and harmful to the environment, the fast fashion market, of which the online segment is a big part, is growing. This is likely due to the cheaper prices that these brands can offer. However, deliveries themselves have a significant environmental impact and create a massive amount of waste. In Austria, only around a quarter of consumers considered the environmental impact of delivery options when shopping online. Customer convenience The popularity of fast fashion comes in part from convenience, consumers can buy clothing that keeps up with the latest trends at a relatively cheap price. The convenience aspect of online shopping is something that for some customers makes it preferable to going into a brick-and-mortar store. When asked about delivery options for online shopping, most respondents answered that it was important to them to have the option of different delivery times e.g., both standard and express. Furthermore, when looking to the future of online shopping, the innovations that were most desired by e-shoppers included frictionless payments, personalized product recommendations, and a seamless omnichannel experience. All of these innovations make the online shopping experience smoother for users, and it is clear that ease and convenience are crucial for success in the e-commerce space.
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South Africa Manufacturing Survey: TF: Rate of Increase: Average Purchase Price of Raw Material: Expected data was reported at 73.000 % Point in Dec 2018. This records a decrease from the previous number of 85.000 % Point for Sep 2018. South Africa Manufacturing Survey: TF: Rate of Increase: Average Purchase Price of Raw Material: Expected data is updated quarterly, averaging 65.000 % Point from Mar 1992 (Median) to Dec 2018, with 108 observations. The data reached an all-time high of 97.000 % Point in Dec 2008 and a record low of 0.000 % Point in Mar 2004. South Africa Manufacturing Survey: TF: Rate of Increase: Average Purchase Price of Raw Material: Expected data remains active status in CEIC and is reported by Bureau for Economic Research. The data is categorized under Global Database’s South Africa – Table ZA.S013: Business Survey: Manufacturing: Turnover Weighted: Textiles, Clothing and Footwear.
Outdoor Apparel Market Size 2025-2029
The outdoor apparel market size is forecast to increase by USD 7.3 billion at a CAGR of 6.4% between 2024 and 2029.
The outdoor apparel market is fueled by rising consumer demand for functional, stylish clothing and advancements in fabric technology. Key drivers include shifting preferences toward sustainable, lightweight materials and the integration of innovative designs that cater to diverse outdoor activities.
This report provides a detailed breakdown of market size, growth forecasts through 2029, and key segments like performance wear and casual outdoor clothing, offering practical insights for refining business strategies, enhancing client engagement, and streamlining operations. It highlights the trend of product premiumization as brands focus on quality and innovation, while also addressing challenges such as supply chain disruptions that impact profitability. For businesses navigating the global outdoor apparel market, this report delivers essential data and analysis to tackle emerging trends and maintain a competitive edge.
What will be the Size of the Outdoor Apparel Market During the Forecast Period?
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The market encompasses a wide range of protective and fashionable items designed for individuals engaging in various nature-based activities, such as skiing, hiking, and mountaineering. This market caters to the growing wellness trend and the increasing desire for adventures in diverse environments. Key product categories include pants, shorts, leggings, tights, and jackets, all engineered to provide durability and safety against the elements. Nylon and cotton are common materials used in outdoor apparel due to their benefits in terms of protection, breathability, and availability. Advancements in technology have led to the development of sustainable and eco-friendly materials, addressing the concerns of environmentally-conscious consumers.
The textile manufacturing market's size is significant, with a steady growth trajectory driven by the increasing popularity of outdoor activities among various demographics, including kids. The cost of outdoor apparel varies, with safety and protection being primary considerations for enthusiasts. Sustainability and traction are also essential factors, as individuals seek items that cater to their unique experiences and adventures. Climate change and the need for safety have further fueled the demand for high-performance outdoor apparel. The apparel industry continues to innovate, offering items that cater to diverse needs while maintaining a balance between fashion and functionality.
The growing demand for high-performance outdoor apparel has driven innovations in breathable fabrics, moisture-wicking, and UV protection technologies. Quick-drying materials and sustainable fabrics, such as recycled fibers, are at the forefront of activewear development. These advancements are complemented by insulation technology, waterproof coatings, and weather-resistant features, ensuring comfort and protection in various outdoor conditions. Lightweight designs, stretchable materials, and durable textiles are key components in performance wear, offering both flexibility and resilience. From hiking clothing and camping outfits to cycling apparel and running gear, outdoor enthusiasts benefit from functional pieces like thermal layers, windproof layers, and functional pockets. Synthetic blends and natural fabrics combine to provide the perfect balance of comfort and durability, while eco-friendly dyes promote sustainability. Smart textiles, antimicrobial properties, and protective outerwear ensure garments remain high-performing. With a focus on seasonal adaptability, these innovations in adventure gear offer versatile solutions for every outdoor activity.
How is the Outdoor Apparel Industry segmented and which is the largest segment?
The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. Distribution ChannelOfflineOnlineProduct TypeTop wearBottom wearCoverallsOthersFabric TypePolyesterNylonCottonOthersEnd UserMenWomenKidsUnisexPrice RangePremiumMid-RangeBudgetGeographyNorth AmericaCanadaUSEuropeGermanyUKFranceSpainAPACChinaIndiaJapanSouth AmericaBrazilMiddle East and Africa
By Distribution Channel Insights
The offline segment is estimated to witness significant growth during the forecast period. The market has experienced a shift towards online sales, leading to a decline in revenue for the offline segment. However, companies are expanding their retail presence in local and regional markets to boost offline sales. They distribute their products through specialty stores and various retail formats. The competition in the market is intensifying, prompting retailers to adopt new stra
In 2023, the global market value of secondhand and resale apparel was estimated to be worth 197 billion U.S. dollars. This value is projected to rise rapidly in the coming years, increasing by roughly 100 billion dollars by 2026. The combination of sustainability and affordability In a 2023 survey, European consumers revealed that the primary motivations for purchasing second hand fashion are that it is a cheaper and more environmentally friendly way to purchase clothes, both topics which are especially relevant to younger consumers. The reduced prices of second-hand apparel also make clothes which would otherwise be too expensive more accessible. This had led to growth in the second-hand luxury goods market.
Online platforms One popular way that younger generations buy their second-hand clothes is via smartphone apps, which give shoppers greater choice and convenience. Depop registered 464,000 monthly downloads worldwide in December 2023. Tthis was considerably higher than the figure for the same month in 2022. Of course, many people still buy second-hand clothes from thrift shops.
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South Africa Manufacturing Survey: TF: Rate of Increase: Average Export Selling Price: Realized data was reported at 27.000 % Point in Dec 2018. This records an increase from the previous number of 11.000 % Point for Sep 2018. South Africa Manufacturing Survey: TF: Rate of Increase: Average Export Selling Price: Realized data is updated quarterly, averaging 18.000 % Point from Mar 1992 (Median) to Dec 2018, with 108 observations. The data reached an all-time high of 57.000 % Point in Dec 2015 and a record low of -53.000 % Point in Mar 2004. South Africa Manufacturing Survey: TF: Rate of Increase: Average Export Selling Price: Realized data remains active status in CEIC and is reported by Bureau for Economic Research. The data is categorized under Global Database’s South Africa – Table ZA.S013: Business Survey: Manufacturing: Turnover Weighted: Textiles, Clothing and Footwear.
The global revenue in the apparel market was forecast to continuously increase between 2025 and 2029 by in total 0.2 trillion U.S. dollars (+10.87 percent). After the ninth consecutive increasing year, the revenue is estimated to reach 2.04 trillion U.S. dollars and therefore a new peak in 2029. Find further information concerning the revenue in the apparel market in the United States and the volume in the 'Men's Apparel' segment of the apparel market in Mexico. The Statista Market Insights cover a broad range of additional markets.
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South Africa Manufacturing Survey: TF: Rate of Increase: Average Domestic Selling Price: Realized data was reported at 31.000 % Point in Dec 2018. This records a decrease from the previous number of 47.000 % Point for Sep 2018. South Africa Manufacturing Survey: TF: Rate of Increase: Average Domestic Selling Price: Realized data is updated quarterly, averaging 37.000 % Point from Sep 1987 (Median) to Dec 2018, with 126 observations. The data reached an all-time high of 92.000 % Point in Mar 1989 and a record low of -36.000 % Point in Jun 2006. South Africa Manufacturing Survey: TF: Rate of Increase: Average Domestic Selling Price: Realized data remains active status in CEIC and is reported by Bureau for Economic Research. The data is categorized under Global Database’s South Africa – Table ZA.S013: Business Survey: Manufacturing: Turnover Weighted: Textiles, Clothing and Footwear.
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南非 Manufacturing Survey: TF: Rate of Increase: Average Purchase Price of Raw Material: Expected在2018-12达73.000 % 点,相较于2018-09的85.000 % 点有所下降。南非 Manufacturing Survey: TF: Rate of Increase: Average Purchase Price of Raw Material: Expected数据按季度更新,1992-03至2018-12期间平均值为65.000 % 点,共108份观测结果。该数据的历史最高值出现于2008-12,达97.000 % 点,而历史最低值则出现于2004-03,为0.000 % 点。CEIC提供的南非 Manufacturing Survey: TF: Rate of Increase: Average Purchase Price of Raw Material: Expected数据处于定期更新的状态,数据来源于Bureau for Economic Research,数据归类于Global Database的南非 – Table ZA.S013: Business Survey: Manufacturing: Turnover Weighted: Textiles, Clothing and Footwear。
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南非 Manufacturing Survey: TF: Rate of Increase: Average Labour Cost: Expected在2018-12达32.000 % 点,相较于2018-09的87.000 % 点有所下降。南非 Manufacturing Survey: TF: Rate of Increase: Average Labour Cost: Expected数据按季度更新,1992-03至2018-12期间平均值为57.000 % 点,共108份观测结果。该数据的历史最高值出现于2018-09,达87.000 % 点,而历史最低值则出现于2014-12,为17.000 % 点。CEIC提供的南非 Manufacturing Survey: TF: Rate of Increase: Average Labour Cost: Expected数据处于定期更新的状态,数据来源于Bureau for Economic Research,数据归类于Global Database的南非 – Table ZA.S013: Business Survey: Manufacturing: Turnover Weighted: Textiles, Clothing and Footwear。
In 2023, Chanel’s worldwide brand value amounted to approximately 19.4 billion U.S. dollars, an increase on the previous year. The worldwide brand value of Chanel experienced a positive trend in the time period between 2017 and 2023, and growing by 27 percent in the most recently reported period.
One hundred years of success
Chanel, a century-old fashion house based in Neuilly-sur-Seine, France, produces high-fashion clothing as well as luxury items and accessories, most notably the popular fragrance Chanel No. 5. The company is one of the most valuable luxury brands worldwide, alongside other luxury fashion giants such as Louis Vuitton, Hermes, and Gucci. Chanel’s value correlates with its wide popularity. Among U.S. consumers, the company was one of the top well-known luxury fashion & accessory brands.
Continuous growth
The popular French fashion house experienced uninterrupted growth in revenues in recent years as well as a steep increase in brand development.
The real per capita consumer spending on clothing and footwear in the United Arab Emirates was forecast to continuously increase between 2024 and 2029 by in total 26.9 U.S. dollars (+2.9 percent). According to this forecast, in 2029, the real fashion-related per capita spending will have increased for the fourth consecutive year to 955.86 U.S. dollars. Consumer spending, in this case per capita spending concerning clothing and footwear, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). The shown data adheres broadly to group 03. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data has been converted from local currencies to US$ using the average constant exchange rate of the base year 2017. The timelines therefore do not incorporate currency effects. The data is shown in real terms which means that monetary data is valued at constant prices of a given base year (in this case: 2017). To attain constant prices the nominal forecast has been deflated with the projected consumer price index for the respective category.Find more key insights for the real per capita consumer spending on clothing and footwear in countries like Iraq and Qatar.
The real total consumer spending on clothing and footwear in the United Arab Emirates was forecast to continuously increase between 2024 and 2029 by in total 1.3 billion U.S. dollars (+12.49 percent). After the ninth consecutive increasing year, the real fashion-related spending is estimated to reach 11.5 billion U.S. dollars and therefore a new peak in 2029. Consumer spending, in this case footwear-related spending, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). The shown data adheres broadly to group 03. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data has been converted from local currencies to US$ using the average constant exchange rate of the base year 2017. The timelines therefore do not incorporate currency effects. The data is shown in real terms which means that monetary data is valued at constant prices of a given base year (in this case: 2017). To attain constant prices the nominal forecast has been deflated with the projected consumer price index for the respective category.Find more key insights for the real total consumer spending on clothing and footwear in countries like Israel and Iran.
Estimations revealed that the fast fashion giant Shein generated an annual revenue of 32.5 billion U.S. dollars in 2023. This is a significant increase since 2016, when the company supposedly reached a revenue of 610 million U.S. dollars.
Shein's benchmarks
Among unicorn companies, or privately held companies with a market value at least one billion U.S. dollars, Shein ranked in the top five with the highest valuations worldwide, totalling 65 billion U.S. dollars in 2024. As a direct to consumer e-commerce unicorn, the company was ranked first as of December 2023. Additionally, when looking at the ranking of leading online stores in the fashion segment, Shein ranked second globally, further proving their widespread success as an e-commerce business.
Who likes Shein?
Who likes Shein? By the end of 2023, shein.com was the most popular fashion and apparel website worldwide by share of visits, followed by Nike and Macy’s websites. The age group that seemed to prefer using shein.com the most were the consumers between 25 and 34 years old, which accounted for over 30 percent of global site visits. Of these consumers, the majority were women, making up over 63 percent of visits.
In the year ending March 30, 2024, the British retailer Marks & Spencer generated a total global revenue of approximately 13 billion British pounds in the United Kingdom (UK) and internationally. This was an increase of over one billion pounds from the previous year. M&S stores for all needs Marks and Spencer has been established in the UK since 1884. The retailer offers a wide range of products to its customers, from food items to general merchandise, such as clothing, beauty and personal care products and home accessories. There are currently over 1,000 Marks & Spencer stores located in the UK, and more than 400 operating internationally. These stores include the core department stores, which offer a selection of the company's general merchandise and food products, its supermarkets (branded as M&S Foodhalls), home stores, outlet stores, and convenience stores (branded as M&S Simply Food). A mark of quality Marks and Spencer is renowned for its higher quality products, especially the grocery division and its food items. British consumers also value M&S as a department home goods store, as it was voted one of the most popular department and home stores in the United Kingdom in a 2023 survey, four percentage points ahead of one of its main competitors, John Lewis.
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In February 2025, the UK inflation rate was 2.8 percent, with prices rising fastest in the education sector, which had an inflation rate of 7.5 percent. In this month, prices were rising in all sectors, with the exception of clothing and footwear. The inflation rate for services as a whole was five percent, while for goods, prices grew by 0.8 percent. UK inflation falls in 2024 After reaching a peak of 11.1 percent in October 2022, the CPI inflation rate in the UK gradually declined over several months, falling to a low of 1.7 percent by August 2024. An uptick in inflation has occurred since that month, however, and by the end of the year inflation was at 2.5 percent above the Bank of England's target rate of two percent. Going into 2025, recent forecasts suggest that over the course of the year, inflation will average out at 2.6 percent, with the two percent target not met on an annual basis until at least 2029. Roots of the inflation crisis This long period of high inflation that the UK and much of the world experienced had its roots in the post-pandemic economic recovery of 2021. During that year, as consumer demand returned, global supply chains struggled to return to full capacity, resulting in prices rising. With inflation already elevated going into 2022, Russia's invasion of Ukraine added even more inflationary pressures to the global economy. European markets which were heavily reliant on Russian oil and gas gradually phased out hydrocarbons from their economies. Food prices were also heavily impacted due to Ukraine's difficulty in exporting its agricultural products.