The market size presented here is based on estimates of the total retail sales value of all apparel sold in the United States in 1999 and ten years later, in 2009. The retail value of apparel sales over this period grew by 37.4% but when adjusted for inflation, that growth rate was actually only 8.4% for the period. By way of comparison, U.S. population growth over this period was 10.1% (from 279.3 million to 307.4 million). Worth noting, however, is the fact that while population had a steady growth rate over this period, the measure of growth between two points in time for something like apparel sales may be deceptive. In 2006, for example, retail sales of apparel in the United States were probably much higher than in 2009, a recessionary year.
Geographic reference: United States
Year: 1999 and 2009
Market size: $222 and $305 Billion respectively
Source: Alva, Marilyn, “Consumers Are Spending Again But They’re Picky,” Investor’s Business Daily, January 4, 2011, page A5.
Original Source: Credit Suisse