Men’s online shopping market has developed over the recent times. A clothing store market strategy involves the planned and tactical goals for the market expansion. It also provides motives of description of fringe and target customers. The whole plan for clothing store should include your customer service goal, price rationale, training resources and schedule and calendar for each constituent of market plan.
Everything to state in the marketing plan is founded on data and complete research. For Example, talking about the market of Nike was the market leader with over 13% of the total industry share worldwide. Nike was the market leader worldwide and its expansion lead attributed it into the Top 1000 Men’s Clothing Stores market.
In 2014, the Nike contributed for over 20% of the overall market revenue which expanded its demand rapidly. Over $14 billion revenue was generated by sales of men’s product and the rest was from women’s clothing line. It states that over 59.1% of the wholesale revenue. Alternatively, more than 11.9% of the revenue was generated by women’s clothing.
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In addition, the expansion rate of men’s price rose up to 9% over the past year. By 2017, Nike is targeting over $7 in sales for women’s product. Additionally, they are planning to expand the development through their wholesale channels and women’s only retail stores. Lululemon Athletic is the prominent competitor that Nike has. The store caters both men and women. Taking an example of Boston Rags clothing store, this is specializing in men, women and children clothing. The estimated sale is more than $187,500 per year by the first year which will drive the industry demand over the forecast period.
Ralph Lauren, Tommy Hilfiger, Gucci, Nike, Versace, Diesel, Lactose, Zara, Prada and others are some of the prominent players in Top 1000 Men’s Clothing Stores market.
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