Family Clothing Stores in the US - Industry Market Research Report

Hit the racks: E-commerce operations are likely to mitigate growth in the industry

Over the past five years family clothing stores revenue has been volatile as external competition has increased for the industry. An emergent trend has been the growth of luxury malls and specialty clothing stores at the expense of traditional malls with stores like Sears and JCPenney. The poor performance of companies that were once powerhouses in the industry has weighed on revenue growth. Nonetheless, revenue is estimated to increase at a CAGR of 2.4% to $192.7 billion, including an increase of 3.0% in 2023 alone. The overall increase is mainly a result of the significant jump in 2021, following the sharp decline in 2020 brought by the coronavirus. The coronavirus forced many operators to temporarily close brick-and-mortar and contributed to decreased demand as consumers cut back on discretionary spending. However, as stores reopened and consumers resumed shopping in-person, demand for industry products soared among rising disposable income. Family clothing retailers stock a general line of new clothing for men, women and children without specializing in apparel for a particular gender or age group. Additional services include basic alterations such as hemming, taking in or letting out seams and lengthening or shortening sleeves. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.