In data: Inflation hinders global childrenswear growth [Yahoo! Finance]
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Source: Yahoo! Finance
Economic challenges are expected to persist in 2024 with growth forecast at just 1.2%. However, an uptick in growth is anticipated from 2025 as inflation stabilises and consumer confidence returns. The childrenswear market is projected to grow at a slower pace with a compound annual growth rate (CAGR) of 2.4% to reach $225.6bn between 2023 and 2028 which is slower than womenswear and menswear, due to declining birth rates. Global childrenswear market drivers Shorter lifecycles: The necessity for frequent replacement within the childrenswear market, due to children quickly outgrowing or damaging garments, will support growth during tough economic times. Purchases are more often viewed as more essential than for menswear and womenswear, and parents will prioritise purchases for their children over themselves. New brands entering the market: Brands such as Phase Eight and Represent, which previously specialised in adult clothing have introduced childrenswear ranges for the first
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