Fashion is a means of expressing oneself. Without it, we would be just another cog in the wheel, largely indistinguishable from one another. And as you’ll find out in our in-depth fashion industry statistics, it can also exhibit one’s beliefs and values — particularly about the environment.
Hence, in this article, we’ll delve deeper into the very core of the fashion industry, including its overall market share, the demographics, future market trends, and more!
Top 10 Most Interesting Fashion Statistics
- A designer makes around $65,650 a year.
- More than 1.8 million people are employed in the US fashion market.
- Companies that promote diversity more make 19% higher revenues than the ones that don’t.
- Global retail sales are expected to reach $3 trillion by 2030.
- In 2015, only 14 percent of 50 major fashion brands had women as their leaders.
- 53% of millennials say they prefer eco-friendly products.
- Over 300 fashion shows were held in Paris just in 2016.
- Models of color got 40.6% of castings in four major fashion cities.
- 0.52% of models age 50 and above appeared on the Fall 2020 runways.
- Bridal wear is expected to grow over $74.9 billion by 2025.
To learn all about this, and more, just keep on reading!
General Fashion Industry Statistics
1. The average fashion designer makes around $83,500 a year.
The fashion industry presents a lot of job opportunities. From design, marketing, and publicity to styling and retail; most of which are well-paid. When it comes to design itself, an assistant designer makes about $46,910 per year, whereas the creative director makes around $130,000.
Also, if you’ve ever wondered what are the highest paying jobs in fashion, ironically, the answer is an editor-in-chief — about $264,000.
2. In 2017, the apparel market grew roughly by 5.46%.
When it comes to apparel, the US and China markets are the largest on the planet. Likewise, the global market is growing steadily with a yearly fashion industry growth rate of around 5%.
By far, one of the largest apparel brands on the planet is none other than H&M, taking the third spot on the global apparel market. With both apparel and footwear, this brand had a market share of about 1.4% back in 2017, which is $1.7 trillion in retail sales.
3. Over 1.8 million people are currently employed in the fashion sector in the US.
Just how much is the fashion industry worth in 2019?
Last year, the fashion industry reached a mind-boggling $2.5 trillion. In fact, almost $380 billion was spent solely on apparel and footwear in the US alone.
4. In Europe, as much as 15kg (33 pounds) of textile is wasted per capita.
Fast fashion is presenting a huge ecological problem for the entire planet. Namely, in this industry, clothing products are manufactured so rapidly with the focus on quantity rather than quality. Hence, a few problems arise.
For instance, fashion waste statistics show that most of the discarded textile end up in landfills instead of being recycled, which is not the most environmentally friendly approach. Yet another problem is the use of cheap labor, as well as child labor, to develop said products.
5. Companies that promote diversity attain 19% higher revenues than those that don’t.
It wasn’t until the world-renowned singer Beyoncé pointed out how representation was important that companies started paying more attention to diversity. For example, Kering is one of those companies, and by 2018, 56% of managerial positions were filled by women, 33% made up the executive committee, and a whopping 64% of the company’s board of directors were, in fact, women.
Exciting Apparel Industry Statistics
6. Global retail sales are expected to reach $3 trillion by 2030.
Thanks to globalization, retail sales are reaching new record highs year in year out. At the moment, the footwear and apparel market reached $1.9 trillion in retail sales with estimates of it reaching the $3 trillion threshold by 2030.
Moreover, the emerging Asia-Pacific and European regions are spurring the growth of this sector even more. Yet, how much is the fashion industry worth in 2020 in the US? Around $368 billion with TJX, Kohl’s, and Macy’s being the leading retailers bringing around $20 billion in sales each.
7. In 2015, merely 14% of major fashion brands had a female executive in charge
Although times are changing, there’s still gender inequality in the industry. In fact, less than half of the most popular womenswear brands are designed by women, according to recent fashion industry statistics.
8. A whopping 53% of millennials say they prefer eco-friendly products.
(Digital Commerce 360) (CNBC)
Despite millennial spending statistics showing that this particular age group often buys clothes they don’t even need, they aren’t as reckless as they first appear. Rather, when buying clothes, most of them will prioritize eco-friendly products and solutions.
9. 87% of US millennials are ready to pay more for sustainable clothing.
(Digital Commerce 360)
A truly remarkable number of US millennials puts ethics above anything else, the latest sustainable fashion statistics reveal. As a matter of fact, a recent study suggests that as much as 66% of millennials are willing to spend more on sustainable brands.
10. 37% of buyers said they find environmental protection crucial when buying clothes.
People don’t just buy clothes to show off their refined taste. In fact, a lot of people exhibit their beliefs and values specifically through their clothing. For instance, 39% of surveyees stated that they bought clothes only from brands that paid their workers a normal, living wage. Another 30% were concerned with animal welfare, local production (10%), and so on.
Amazing Fashion Model Statistics
11. Models of color get just 40.6% of castings on the four major fashion city runways.
Naturally, being one of the greatest American fashion cities, New York found its place on this list, alongside Milan and London when it comes to Europe. In addition, the world’s capital of fashion, Paris, was also on the list, as France fashion industry statistics show.
12. The Fall 2020 season marked only 27 appearances by plus-size models.
(The Fashion Spot)
The Spring 2020 season reached a record high 68 plus-size models. Yet, just one season later, the percentage fell from 2.92% to just 1.4%. Namely, only 16 shows featured a plus-size model in Fall 2020, whereas the previous season had 19 shows with plus-size models, as highlighted by fashion industry statistics from 2020.
13. Chiara Ferragni was the top influencer at the Paris Fashion Week in 2018.
The ‘It’ girl, who was also first on Forbes’ Top Influencer list back in 2017, reached $3.2 million MIV (Media Impact Value) — an algorithm that measures the impact of mentions and placements across different mediums. This just goes to show how integral influencers have become for fashion, and the industry in general.
14. Merely 0.52% of models that appeared on the Fall 2020 runways were aged 50 plus.
(The Fashion Spot)
As global fashion industry statistics from 2019 show, Fall 2019 featured 15 models aged 50 and above over 13 shows, which accounted for 0.68% of the total number of models. In the Spring 2020 season, the percentage slightly decreased to 0.65%, with 15 models over 10 shows. However, the number kept decreasing even further, reaching just 10 models on 9 runways the previous season.
15. Kendall Jenner is currently one of the highest-paid fashion models on the planet.
It’s no secret that fashion super-models make a ton of money. In fact, most high fashion models’ salaries reach astronomical figures. For instance, Kendall Jenner’s net worth is estimated at a mind-boggling $22.5 million! Not bad for a 24-year-old.
Honorable mentions include Karlie Kloss ($13 million), Chrissy Teigen ($11.5 million), and Cara Delevingne ($10.5 million).
Fashion Industry Facts and World Markets
16. India’s ethnic wear market has a $17.18 billion market share.
Among the four segments — men’s ethnic wear, women’s ethnic wear, boys’ wear, and girls’ wear — the women’s ethnic wear segment takes the largest share with 81% in total. Combined, men’s ethnic wear and women’s ethnic wear make up most of the market — a staggering 90%. According to ethnic fashion statistics, kids ethnic wear is estimated to have a CAGR of 8%.
17. Last year, fast fashion accounted for nearly 66% of all online fashion traffic for the first half of the year.
As retail statistics show, 56.9% of US gains in 2019 were covered by online retail sales. Nevertheless, this is but the beginning. Namely, the latest fast fashion industry statistics project that the peak is yet to come in the years that follow.
18. The revenue from bridal wear is expected to exceed $74.9 billion by 2025.
Likewise, it will continue to grow by 2.4% for the following years as well, at least in the US. In Europe, Germany is expected to add over $523.3 million in the next couple of years. As for the remainder of Europe, we can expect $402.9 million in total.
In addition, Japan will contribute a whopping $4.6 billion and China — $4 billion.
19. The European Union imported textile worth $77 billion in 2018.
Global fashion industry statistics from 2018 show that, apart from the EU, the US and China are the world’s largest textile importers. The US imported around $30 billion worth of textiles, whereas China imported another $18 billion. Of all these, China produces and exports the most, by far.
20. Today, modern society consumes 400% more clothing than it did 20 years ago.
As a result, many companies are turning to sustainable and eco-friendly choices. With emerging fields and new opportunities, people are spending enormous sums of money solely on clothes. Fortunately, not everything is bad for the environment.
Is the fashion industry growing?
Yes, the fashion industry is still growing ever larger. From 2016 to 2019, the fashion industry has grown by 21%. The online fast fashion industry has also grown thanks to some of the most popular brands and stores — GAP, Forever 21, and House of Fraser.
How much is the fashion industry worth in 2018?
The apparel market, in 2018, was worth around $1.3 trillion. The largest percentage covers womenswear — 53% — whereas 31% was spent on children’s clothes, and 16% on men’s clothes.
How much is the UK fashion industry worth in 2019?
The fashion industry is well developed in the UK. In 2019, the UK fashion market was valued at around $69 billion. As such, the UK took sixth place on the list of the largest apparel markets in the world for the previous year. China was the largest one, followed by the US, whereas India ranked fifth on the list.
Who has the largest market share in the clothing industry?
The EU, with its 27 members, the US, and China have the largest apparel markets. Of these, the EU takes first place, and the four main product categories include womenswear, menswear, childrenswear, and sportswear.
Fashion industry statistics reveal a lot about our lives, as do our clothes. Yet, from a purely financial standpoint, the fashion industry plays a major role as well. Namely, this industry is simply huge and employs people from all across the world of various genders, races, and ages. Without it, the world would, quite literally, be worse for wear.