May 9, 2019 – Sourcing Journal – Perhaps unsurprisingly, North West, daughter to Kim Kardashian and Kanye West, recently trended on Twitter. It seems the 5-year-old donned a pair of her mom’s pink snakeskin boots that perfectly matched her pink snakeskin print dress. And then proceeded to throw a bit of a tantrum when she wasn’t allowed to wear them out of the house.
No, celebrities are not just like us, but most parents are familiar with clothing battles. For brands and retailers, figuring out how to appeal to kids while keeping parents happy is no easy task. But it’s definitely worth the effort.
The U.S. market for children’s wear was estimated to be $60 billion for 2018 and is projected to exceed $76.4 billion by 2024, according to Global Industry Analysts, Inc. (GIA), an off-the-shelf market research publisher. That increase would mean a CAGR of 3.9 percent from 2016 to 2024. Although the annual spend on children’s apparel can vary from below $25 to thousands of dollars, the GIA survey finds the average household spends about $108 on kids’ clothes. Girlswear represents the largest product segment, accounting for a 39.4 percent share in 2018.
While trends and the moods of young ones may swing wildly, one thing that’s certain is the influence kids are having on the children’s wear industry, according to the Mintel Group.
Read more at the Sourcing Journal.