On May 21, CAF held a webinar on the current and future status of the Canadian apparel retail market, presented by Trendex North America President Randy Harris.
The webinar provided an overview of the 2019 market and provide Trendex's insights as to the size and growth rate of the Canadian apparel market, strengths/weaknesses of several major apparel retailers, the importance of the luxury apparel market and e-commerce, major developments in the 2019 market including changes in merchandising and marketing, identification of the "winners and losers" in the apparel market and digital transformation the industry will experience by 2023.
During the webinar, Mr. Harris predicted that it will be at least two (but more than likely three) more years before apparel sales return to their pre Covid-19 levels. Furthermore, the Canadian retail apparel market is projected to decrease by 30.2% in 2020 and decrease by 2.2% over the period 2019-2023. Mr. Harris also discussed anticipated consumer trends that brands and retailers will want to pay close attention to as businesses resume "normal" activities following the COVID-19 shutdown.
Mr. Harris is a recognized expert on both the Canadian and Mexican apparel markets, as well as publisher of the widely-read monthly newsletter Canadian Apparel Insights.
The recording for this webinar is now available at no charge to CAF Members. The fee for non-members to download the recording is $50 CAD. Click here to purchase the recording.