by The U.S. fast fashion market involves clothing brands that design and manufacture trendy apparel at affordable prices. Products in this market include tops, bottoms, dresses, shoes, accessories and more made from synthetic fabrics or cheap natural materials. Fast fashion allows customers to refresh their wardrobes frequently without breaking the bank. With trends changing rapidly, fast fashion fills the need for trendy yet inexpensive clothes.
The U.S. Fast Fashion Market Size Is Estimated To Be Valued At US$ 41.15 Bn In 2024 And Is Expected To Exhibit A CAGR Of 5.5% Over The Forecast Period 2024-2031.
Global fast fashion market is embracing trends of sustainability with eco-friendly sourcing and materials. Key players operating in the U.S. fast fashion market are River Island, Mango, Bershka, Missguided, New Look, Fashion Nova, Shein, Romwe, Prettylittlething, Nasty Gal, Miss Pap, Boohoo, ASOS, H&M, Zara, Forever21, UNIQLO, Topshop, C&A And Primark.
Key Takeaways
Key Players: Key players in the U.S. fast fashion market are responding to growing demand for sustainable fashion by adopting eco-friendly practices. For instance, H&M and Zara are using more organic, recycled and sustainably sourced materials. Fashion Nova and Shein are also promoting sustainable collections made from recycled polyester and organic cotton.
Growing Demand: There is a significant growth in demand for fast fashion products among Gen Z and millennial consumers in the U.S. driven by influence of social media and demand for latest trends. The affordable price point of fast fashion brands allow young consumers to stay updated with constantly changing trends.
Global Expansion: Major fast fashion retailers are expanding globally with an increased focus on the large U.S. market. Brands like Shein and Romwe have strengthened their presence in the U.S. through innovative marketing strategies on social media. H&M and Zara are also investing in their omnichannel capabilities and supply chain in the region.
Market Key Trends
Increased focus on sustainability is a key trend being witnessed in the U.S. fast fashion industry. Fast fashion brands are embracing more sustainable practices like using organic fabrics, recycled materials and adopting eco-friendly production processes. There is also a trend of brands launching exclusive sustainable collections made from reused textiles to attract environmentally conscious young customers.
Porter’s Analysis
Threat Of New Entrants: The threat of new entrants is moderate due to the market being very competitive with several established brands dominating market share. However, the market is growing which provides opportunities for new entrants.
Bargaining Power Of Buyers: The bargaining power of buyers is strong as there are many substitutable options available from competing brands. Buyers can switch brands easily based on price, collection and trends.
Bargaining Power Of Suppliers: As fashion trends and collections change rapidly, the bargaining power of suppliers of raw materials, textiles and components is weak. Supply chains are also globalized which provides alternatives to suppliers.
Threat Of New Substitutes: The threat of new substitutes is high as fast fashion replicates latest trends quickly. Competing brands can easily substitute designs and collections within a short period of time.
Competitive Rivalry: The competitive rivalry is very intense with established global brands competing on price, latest trends, speed of delivering new collections and marketing campaigns.
Geographical Regions
The U.S. fast fashion market is concentrated in major cities and urban regions of the country where young population has higher disposable incomes and adopt latest trends quickly. States like California, New York, Texas, Florida contribute over 50% of the total market value due to higher population density and influencer culture in cities like Los Angeles, New York, Miami etc.
The fastest growing region for the U.S. fast fashion market is Southeast region comprising of states like Georgia, North Carolina, South Carolina, Tennessee etc. Cities like Atlanta are witnessing rapid growth in young affluent population which is adopting fast fashion trends faster. Established U.S. brands have increased their presence in these cities which will boost market growth above the national average rate in coming years.
What are the key data covered in this U.S. Fast Fashion Market report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the U.S. Fast Fashion Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the U.S. Fast Fashion Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behavior
:- U.S. Fast Fashion Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of U.S. Fast Fashion Market vendors
FAQ’s
Q.1 What are the main factors influencing the U.S. Fast Fashion market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top U.S. Fast Fashion Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the U.S. Fast Fashion market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
- Source: CoherentMI, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
