Clothing Store Business Plan Template

Industry Analysis

Clothing store sales in the United States have risen steadily from $85.4 billion in 1992 to $189.1 billion today.

Over the next five years, clothing store industry revenue is expected to rise. Many companies that were traditionally store-only businesses have responded to external competition by opening online stores that complement their brick-and-mortar establishments and attracting more customers through social media. The rise of mobile technology is expected to sustain this trend in the future.

Furthermore, retailers will focus on creating more of an in-store experience to try and attract customers in store, such as in-store only promotions, pop-up shops and exclusive collaborations with celebrities and social media influencers.

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As consumers experience better financial conditions that favor non essential purchases, revenue growth is expected to continue. When household disposable income is high, consumers have more power to purchase discretionary items, such as clothes. Per capita disposable income is expected to increase over the next five years, paving the way for favorable operating conditions and increased revenues.