In Data: Childrenswear online market promising, despite offline dominance [Yahoo! Finance]
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Source: Yahoo! Finance
counterparts in menswear and womenswear, according to a GlobalData report titled: “ Global Childrenswear Market to 2028. ” However, the future looks promising for the online childrenswear market. The report forecasts a 4.0% growth in 2024 and a compound annual growth rate (CAGR) of 4.9% between 2023 and 2028, with the market expected to reach $62.5bn and a penetration of 27.7%. GlobalData said this growth will be driven by the increasing digitalisation of less developed markets and the entry of more valuable childrenswear brands into the online space. What is hindering the growth of the online childrenswear market? While the COVID-19 pandemic provided a significant boost to the online childrenswear market, its overall penetration remains relatively low. In 2023, the online segment grew by 2.9%, but its penetration stepped back by 0.2 percentage points to 24.6%, as consumers returned to in-store shopping, particularly those who preferred to see items in person before making a
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