Answers are grounded in this paper and cite their sources.
The fashion industry is one of the driving forces of the global economy. According to Euromonitor, the global apparel and footwear industry grew by 18.1% at current prices in 2020-2021 and is expected to grow by 18.1% in 2021, with a market size reaching 1.71 trillion US dollars (retail value). In 2021, the largest markets of the clothing and footwear industry worldwide included China, the USA, the United Kingdom, Germany, and Japan. China is the world's largest exporter of textiles and clothing, and the EU serves as the largest importer of these products. Over 60 million workers are involved in the textile, clothing, leather and footwear industries worldwide. In 2021, people worldwide consumed an average of 16.7 units of clothing (retail sales per capita) and footwear, spending an average of 220.7 USD. Global consumer spending on apparel and footwear was estimated at 2057,8 billion USD in 2021. The paper presents the development trends of the fashion industry, the essence and main destinations of shopping tourism, ways of promoting shopping tourism, as well as the types of customers according to their behavior. The clothing production sector and opportunities for the development of shopping tourism in the RA were also presented.
No takes yet. Share an insight, caveat, or question.
Gayane Tovmasyan (2023) studied this question.
Synapse has enriched 10 related papers. Consider them for comparative context: