Apparel industry survey

APPAREL INDUSTRY SURVEY


1. Introduction to the industry
Companies that design, manufacture, market, and/or license brands for men's, women's, and/or children's clothing, footwear, and accessories (1). The fast-paced exciting apparel industry is one of the largest industries in the United States. Americans spend billions of dollars each year on soft goods ranging from the latest apparel fashion to basic underwear.

2. Recent economic trends
The apparel sector is an important element in early economic growth of countries in early stages of development. The abundance of low-skill workers fits well with an industry that requires physical labor rather than mechanized production methods to produce its goods. As the economy develops in time, the education and skill levels of those workers rise, and with them rise workers' wage rates. They become less and less able to produce apparel at prices competitive with other countries that are not yet as developed. But they become bet...