- Guest Contributor
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This month’s fashion podcast series by Euromonitor International
explores the key trends within the incredibly dynamic apparel and footwear
industry in Australia. The Australian apparel and footwear industry has
been incredibly volatile and lively over the last decade with many
companies considered to be staples of the world fashion industry closing
their operations within Australia and operating solely online. This can be
put down to the high operating costs, which includes soaring rents and high
wages. Several high-profile companies have recently discontinued their
operations, namely international players such as Gap, Espree and Forever 21
and local players Bardot and Stylerunner went into voluntary administration
in 2019.
However, two key trends have seemed to be common among businesses that
are thriving in this difficult Australian market: in-store experiences and
sustainable fashion.
While the world is innovating and improving their online experience,
Australians are experimenting different in-store experiences in order to
attract more customers offline. Even though Australia is a bit behind in
terms of fashion trends due to the difference in weather, it is no longer
behind in terms of new retail concepts. According to Euromonitor’s
Lifestyle survey, 50 percent of Australian respondents said they want to
see or try things in-store before buying and 48 percent of them said they
prefer buying in-store because of immediate ownership of the product. This
explains why brands are working to improve their in-store experiences using
different digital tools. An example of this is the Australian footwear
retailer, Athletes Foot, which has introduced a MyFit 3D fitting tool in
its store that allows customers to find the perfect fit using their walking
manner and pressure points.
The second trend – sustainable fashion has been gaining a lot of
prominence with more Australians becoming concerned about climate change.
This has been fuelled by the recent bush fires which ravaged the country.
Consumers are wanting to make a positive impact on the environment and are
forcing companies to take ethical considerations into account. Companies
are actively trying to source organically grown cotton and are finding
alternatives for nylon and polyester by experimenting with different types
of recyclable or recycled materials. This has especially been apparent in
sportswear where brands such as Nimble Activewear and Running Bare are
using PET bottles, recycled polyester, seaweed and bamboo to make active
wear.
Customers are also slowly putting an end to ownership by renting clothes
or buying second-hand items. There is still a wide portion of Australians
who have never rented items, 41 percent of the consumers said they rent
items rather than buying at some frequency (ranging from rarely renting to
renting items weekly). The Iconic – one of the biggest apparel and footwear
online retailers in Australia, added a Considered Edit filter on its
website in 2019, where customers can choose items from different causes
that they want to get associated with. This includes options of clothing
and footwear that is animal friendly, eco-friendly, fairly produced or made
up of sustainable materials.
For companies looking to compete and thrive in the Australian market,
innovative in-store experiences and a consideration to sustainable fashion
is a must.
Written and created for FashionUnited by Euromonitor. Euromonitor International
is the world’s leading independent provider of strategic market
research.
Image: Andrea Piacquadio / Pexels
