Fast Market Research recommends "Apparel and Footwear Specialist Retailers in Chile" from Euromonitor International, now available
[USPRwire, Fri Jan 29 2016] The economic stability and growth the country experienced over the review period, along with the opening and enlargement of several shopping centres, most notably Costanera Center in 2012, made Chile an attractive field of development for international brands, such as Zara, H&M and Forever 21, which spurred growth in the channel in recent years. This growth attracted other international players, such as Under Armour, which opened a store in Santiago towards the end of 2014 and in 2015 slowly but steadily expanded in terms of outlet numbers. Local players such as Corona and Tricot with their successful strategies of targeting middle- and low-income consumers helped to establish the fast fashion concept among apparel retailers in the country and, most importantly, among consumers.
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Multitiendas Corona maintained its leading position in apparel and footwear specialist retailers in Chile during 2015 with a 17% value share. Corona’s success in the channel is related to the company’s wide outlet network as, unlike the majority of its competitors, it has national coverage in all of Chile’s main cities. As a result, Corona has a strong reputation throughout Chile and has the status of an iconic apparel and footwear specialist retailers brand in all regions of the country.
Over the forecast period, it is expected that fast fashion and convenient purchasing will be the key drivers of growth in apparel for specialist retailers, combined with the development of internet retailing platforms by all major players in the store-based retailing of apparel and footwear products. Companies active in the channel will need to adapt to the growing sophistication of Chilean consumers as well as their expectations of reasonably priced products. As such, apparel and footwear specialist retailers will have to develop strategies to challenge the dominance of large chained retailers such as Cencosud and Falabella, both in terms of store-based retail outlets and internet retailing. On the other hand, pressure is increasing from internet retailers, many of which are developing strategies to generate higher profit margins due to their minimal overheads while representing a convenient option for consumers due to their wide product portfolios.
Discover the latest market trends and uncover sources of future market growth for the Clothing and Footwear Specialist Retailers industry in Chile with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
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