Apparel Industry Demographic Analysis

Demographic The population of North America is one that is aging rapidly. Overseas markets such as those in Asia and Latin America are beginning to emerge. Firms within the industry will need to create products to take advantage of the demand and purchasing power of this market segment. Firms need to expand globally if they wish to attain business from a younger population. Those wishing to remain in the North American market will have to develop product lines to fit the aging population. Individuals lifestyles become more sedentary at this stage which will require products that accommodate those with larger waistlines and larger fitting clothes. A diversified product portfolio will help firms compensate if they cannot meet this need. Women …show more content…
Trade barriers must be assessed that are both tariff and no tariff. This affects both established international firms who have to monitor the tariffs they need to pay to export to a place of business or new firms who trying to expand globally. These firms will not only have to plan for the tariffs but also have to be made away of any trade restrictions in place that would limit their ability to bring their product overseas. Firms must also be aware of the taxation laws both domestic and foreign. Some foreign countries may require taxes to be paid in order to do business within their borders, while there may also be domestic taxes to the corporation on its revenues. This must be kept in mind as legal issues can arise if a firm does not keep their financials in order, which can be detrimental to the corporation’s existence or its brands …show more content…
The internet provides a median for firms to connect with its consumers. This can be through online advertising campaigns that help generate traffic to their websites, or it can also be through the online sale of their merchandise, which connects the consumer to the end product. The internet allows firms to distinguish themselves and get their message out to as many people as possible, while limiting its costs. The online sale of intimate apparel is changing even from the introduction of the internet. Boutique are now forming online which allow consumers to send in measurements or even a photo of themselves and be sized for a bra with one hundred percent accuracy. This eliminates hassle the consumers face of trying on bras within the store fitting room, but also takes away revenue from in store sales that would be made in addition to the initial bra