PROSPECTS AND OPPORTUNITIES
An increase in VAT will challenge sales for apparel and footwear specialists
Across the forecast period, retail sales for apparel and footwear specialists in Slovakia are to rise at a current value CAGR of 2% (2024 constant value CAGR of -0.3%) The VAT rate for apparel and footwear products is set to take effect in January 2025 as the Slovak government addresses its rising fiscal deficit.
Sustainable attributes are expected to drive sales as disposable incomes improve
Premiumisation is set to be a significant trend in the latter half of the forecast period, as consumers gain more confidence in their spending habits. High-quality, image-driven brands and sustainably sourced products are therefore, expected to gain popularity during this time.
Added benefits from retail e-commerce is set to support growth for the online channel
Retail e-commerce sales for apparel and footwear are expected to continue rising over the forecast period, particularly due to advancements in services and the efficiency of channel operators. For instance, the German online retailer About You, offers more than 1,500 brands and free delivery.
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Overview:
Understand the latest market trends and future growth opportunities for the Apparel and Footwear Specialists industry in Slovakia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Apparel and Footwear Specialists industry in Slovakia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Apparel and Footwear Specialists in Slovakia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Apparel and Footwear Specialists in Slovakia?
- Which are the leading retailers in Apparel and Footwear Specialists in Slovakia?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
Apparel and Footwear Specialists in Slovakia - Category analysis
KEY DATA FINDINGS
Deals and discounts become important tools to drive growth for apparel and footwear specialists
Consumer-to-consumer marketplaces become rising competition for apparel and footwear specialists
Pepco retains its lead while focusing on consolidation to enhance revenue
An increase in VAT will challenge sales for apparel and footwear specialists
Sustainable attributes are expected to drive sales as disposable incomes improve
Added benefits from retail e-commerce is set to support growth for the online channel
Retail in Slovakia - Industry Overview
Retail in 2024: The big picture
Retailers offer added-benefits, deals and discounts to drive sales
Leading players focus on consolidation to prioritise efficiency
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Christmas
Easter
Back to School
DISCLAIMER
Apparel and Footwear Specialists
Apparel and footwear specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: clothing, footwear, and/or fashion accessories (costume jewellery, sunglasses, belts, hats, gloves, handbags, scarves, etc.). Apparel specialists include specialty apparel like wedding dress shops. Example brands include Primark, TJ Maxx, and Zara. Sportswear retailers, such as Adidas and Nike, are excluded from this channel and are included in Sports Goods Stores; this is due to the companies considering themselves sports companies as opposed to apparel companies.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Apparel and Footwear Specialists research and analysis database.
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