NAICS 448 - Clothing and Clothing Accessories Stores
Industries in the Clothing and Clothing Accessories Stores subsector retailing new clothing and clothing accessories merchandise from fixed point-of-sale locations. Establishments in this subsector have similar display equipment and staff that is knowledgeable regarding fashion trends and the proper match of styles, colors, and combinations of clothing and accessories to the characteristics and tastes of the customer.
Industry trends:
The NAICS 448 industry, encompassing Clothing and Clothing Accessories Stores, is witnessing significant qualitative shifts. One prevailing trend is the growing importance of sustainability. Consumers are increasingly favoring brands that prioritize ethical sourcing, eco-friendly materials, and transparent supply chains. This trend is creating opportunities for retailers to differentiate themselves by adopting green practices and promoting sustainable products.
Another significant trend is the integration of technology in the shopping experience. Augmented reality (AR) and virtual reality (VR) are being used to enhance online shopping, allowing customers to visualize products in a digital environment before making purchases. Additionally, AI-driven personalization is enabling retailers to offer tailored experiences based on consumer data, improving customer satisfaction and driving sales.
Moreover, the shift towards omnichannel retailing continues to reshape the industry. Consumers expect a seamless shopping experience across physical and digital channels. Retailers are investing in robust e-commerce platforms, enhancing their mobile presence, and optimizing their supply chains to meet these expectations.
Forecasts for the near future suggest that the demand for sustainable and technologically enhanced shopping experiences will continue to grow. Retailers that can adapt to these trends and innovate in how they engage with consumers are likely to see increased customer loyalty and sales growth. Embracing digital transformation and sustainability will be crucial for staying competitive in the evolving market landscape.
This industry is comprised of:
Explore related industries:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.