Jewelry Exports in 2020

In 2020, the total value of global sales in jewelry export stood at 69.2 billion USD. This value shrank by 34.2% from 2016’s global sales value of 105.1 billion USD. 

From 2019 to 2020, the value of sales in jewelry fell by 40.1%

The global lockdown induced by the outbreak of covid 19 is majorly responsible for this. 

The top five jewelry exporters (Switzerland, China, India, Hong Kong, and the United States) constitute half of the total jewelry exports in 2020. They make up about 51.2% of the entire market.

While looking at the value of exports from continents, Asia takes the top spot for having the most market value of exports in 2020. Asia shipped around 37.6 billion USD, which is 54.4% of the total value worldwide. 

Europe comes in the second spot with 35.4% and North America in the third with 8.3% of total jewelry export.

0.9% of the entire value came from South America, while Australia and Africa constituted 0.6% and 0.3% of the market share in exports respectively.

RankCountryValue in USDPercentage of Total Export
1Switzerland8.1 billion11.7%
2China8 billion11.5%
3India7.7 billion11.1%
4Honk Kong6.3 billion9.1%
5US5.3 billion7.7%
6Italy5.3 billion7.6%
7France4.4 billion6.3%
8Turkey3.6 billion5.2%
9UAE3.5 billion5%
10UK3.3 billion4.8%
11Thailand2.6 billion3.7%
12Singapore1.8 billion2.5%
13Indonesia1.4 billion2.1%
14Germany1.4 billion2%
15Malaysia750.6 million1.1%
Top 15 countries ranked by their maximum value of exports

The top 15 countries contributed to 91.5% of the total global exports in jewelry in 2020.

Read More
Marketing, Startup, UI Design

Smart home market in India

India has emerged as the second-largest digital market in the world thanks to cheap data, high discretionary income, and subsidized hardware costs. Technology has become a central component in everyday life to such an extent that it is being used to design smart homes. 

The smart home market in India grew significantly to an estimated 9 billion USD, ranking India’s number of smart homes the third largest in the world in 2020.

This remarkable development has been carried by the rapid expansion of internet connection and the internet of things (IoT) technology. IoT facilitates multiple devices to connect to the internet and share data with each other with minimal human assistance. Interestingly, a total of 15% of the IoT market is contributed by the smart home segment.

As this sector grows and adapts rapidly, one of the major challenges it faces is security, in terms of network and end-to-end encryption. 

The smart home market is divided into six major segments in terms of usage. The segments are appliances, energy management, comfort and lighting, control and connectivity, security, and entertainment.

Among these, smart appliances make up for the highest revenue share of the market.

Ease of access is the primary goal of smart appliances. Apart from that, improved security, customization, and reducing utility expenses are other perks of smart appliances.Companies such as Philips, Fossil, Xiaomi, and Samsung are old players in the smart home market. Recently, a subsidiary of Hero Group, Hero Electronix, joined in the fray with their smart home camera in September 2019.

Read More
Development, Marketing

The Impact of COVID-19 on India’s Exports

The petroleum industry was the worst affected in terms of exports from India, with a downfall of about 32 percent in January 2021, in comparison to the same month, the previous year.

The impact on the global economy

Six out of the seven largest economies showed an unprecedented GDP loss in the third quarter of 2020 due to the outbreak of COVID-19. A decline in demand and massive changes in spending patterns threw international trade into a downward spiral. 

To combat the outbreak, a mandatory nationwide lockdown was imposed. This affected supply chains as well as livelihoods so adversely that it is estimated that the economy might take years to recover.

The impact of COVID-19 on different sectors

The lockdown affected mobility severely as borders and transportation were closed down. This caused irrecoverable damage to the conventional retailers. 

One of the worst affected industries was the automotive industry. Consequently, the petroleum industry also slumped. 

The efficiency of the healthcare industry was tested and it emerged as one of the better-performing sectors along with e-commerce. E-commerce enjoyed the bump in their economy and it remains as one of the best-benefitted sectors due to the pandemic. People consider online purchasing through e-retailers as the most viable option even after the lockdown.

Read More
Apparel, Branding, Marketing

Global Apparel Market

According to projections, the value of the global apparel market will grow to 2.25 trillion USD in 2025 from 1.5 trillion USD in 2020. The Asia Pacific region saw a growth of 4% in the apparel market, whereas the regional distribution of the demand was uniform in the period from 2015-2020.
United States, China, and Japan are the largest apparel markets, in the specific order.

The apparel and footwear market has four main categories: childrenswear, womenswear, menswear, and sportswear. Throughout the world, womenswear is the highest-selling category. In the US alone, womenswear generated 187 billion USD and menswear generated 86 billion dollars. The sportswear market is a high-value market as well, with 185.2 billion USD in 2020.

Denim continues to grow in popularity across every type of clothing item.
The market for knit apparel has grown massively with the US having 18.95% of total knit apparel imports. Other countries where knit apparel has grown are the UK, France, Spain, Japan, and Hong Kong.
China remained at the top as the world’s largest knit apparel exporter. China contributed about 31% of total world exports in the knit apparel market in 2018.

There are countless apparel retailers of varying sizes throughout the planet. Yet, the biggest brands control most of the market. In 2020, the biggest apparel and footwear retailers were H&M, TJX Companies, and Inditex. The Gap, Inc. was the highest-selling retailer of casual clothing.
The United States was importing around 85 billion USD worth of accessories and footwear in 2018. The US stands as the leading importer of footwear in the world.

LVMH Moet Hennessy Louis Vuitton S.E. was the top seller in luxury clothing. Nike, Adidas, and GUCCI were the most valuable individual brands in 2020.

The apparel industry has evolved to be a dominating contributor to the revenues of several countries. For some countries, it is the single biggest contributor. Sri Lankan apparel exports amount to about 44% of the national export revenue. The number is even higher for Cambodia – 58.45%. In Vietnam, apparel export is the third-largest contributor to the total export revenue at 36 billion USD. It also accounts for 16% of the GDP.
However, the best example of this is Bangladesh where 83% of the entire export revenue is drawn by the apparel industry.

Read More
Apparel, Branding, Marketing, Trade

Top Clothing Retailers in The World 2020

The clothing retail industry grew steadily over the period of last 5 years. In 2019, the industry saw a growth of 5.46% and over 2020, it was 6.2%. USA and China emerged as the largest retail markets in 2020. 

The clothing retail industry recorded a net worth of 292 billion USD in 2020. 55% of total sales in apparel and footwear came from outside North America and Europe. 

Key Points

  • Asia was the biggest exporter of apparel products in the world as China contributed over 36% of the entire market.
  • Apparel exports from China and Hong Kong reached the value of over 185 billion USD. These two countries are the biggest contributor in terms of cash value. 
  • The market for athletic garments grew by 8.5% making it the highest grossing category in the apparel market. 
  • China was the primary destination of clothing with 91% of apparel companies sourcing their products from here. 
  • Mexico emerged as the cheapest country for manufacturing apparel as the wages are 25% lower than that of China. 

List of the biggest apparel brands based on the 2019 fiscal year

RankCompanyCountrySales Revenue in USD billions
1INDITEX (ZARA)Spain28.89
3Hennes & MauritzSweden21.5
5Limited BrandsUSA13.24
6PVH (Calvin Klein, Tommy Hilfiger)USA9.66
7Ralph LaurenUSA6.31
10Abercrombie & FitchUSA3.59

Read More