Australia has earned an august reputation for its scenic beauty, spot-on attitude and a happening fashion retail destination that has brands and retailers from home and abroad fighting for a larger share of the pie.
And all of these retail biggies will be at ASW 2023, to add a new dimension to the sourcing extravaganza.
One of the most urbanised societies globally with close to 90% of the total population living in the urban areas of Sydney, Melbourne, Adelaide, Brisbane and Perth, as well as in smaller cities and towns within 100 miles of the ocean, the fashion industry in Australia in financial year 2021, contributed around AU $ 27.2 billion (US $ 18.06 billion) to the national economy and is expected to show an annual growth rate (CAGR 2023-2027) of 11.54%.
The third edition of the subcontinent’s much-awaited event will have all the big names from the Aussie fashion retail fraternity interacting with more than 200 hand-picked suppliers of diverse sizes and across product categories from the manufacturing strongholds of Asia (India, Sri Lanka and Bangladesh) to foster long-term business relations.
The exciting fashion retail sector of Australia boasts of around 16,306 clothing retailing businesses (as of 2023), registering an increase of 7.8% from 2022 even as records suggest Australians in general spent around AU $ 9.2 billion on women's apparel in 2021,compared to AU $ 4.2 billion on men’s apparel.These markets are projected to develop at a CAGR of 3.27% and 3.18% respectively (between 2021-2026).
Meanwhile, the Australian fashion e-commerce market is predicted to account for 25.4% of the total e-commerce market in the country while the compound annual growth rate for the next four years (CAGR 2023-2027) is expected to be around 11.5% (by 2027).
The share of revenue via online sales channels grew from 20% in 2019 to 31% in 2021 and is projected to grow even further to 46% by 2025.
Interestingly, women (61%) bought goods online more than men (40%) did in 2021 with women’s clothing and shoes still being the biggest markets in terms of potential turnover.
Another key aspect has been the increasing demand for sustainable fashion as the share of revenue in sustainable fashion increased both in men’s and women’s apparel.
Women's sustainable fashion held 5.7% share of revenue in 2021 and is expected to grow to 8.23% by 2026 while men's sustainable fashion held 4.7% share of revenue in 2021 and is expected to grow to 6.8% by 2026.
Apparel Sourcing Week 2023, to be held on 20th and 21st of July in Bengaluru, has a major thrust on Australia as an emerging destination.
Renowned as an outstanding knowledge platform, ASW’s unique and wide range of panel discussions will give you a complete lowdown on the emerging and traditional markets, for the benefit of the stakeholders.
Make sure to attend the third edition of ASW. The venue is Sheraton Grand Bengaluru Whitefield Hotel and Convention Center.
Apparel Sourcing Week 2023, a two-days Sourcing Show not only provides the Asian manufacturers a platform to showcase their products & manufacturing capabilities to the Brands & Retailers from all over the world including India, but also extends them a chance to attend the multiple seminars (headed by industry experts), workshops, open-house discussions and networking opportunities organised during these three days, which would help the manufacturers get a better understanding of Indian and International Retail and evolving dynamics of sourcing in various markets and retail formats.
Apparel Resources is well known for its benchmark publications – Apparel Online, StitchWorld and Resource Guide published from India, Bangladesh & Vietnam. These publications have been around in the industry for over 35 years, supporting, guiding and standing by garment exporters and the retail industry globally, providing them a platform to source better.