Suits & Ensembles - South Korea

  • South Korea
  • In 2024, the Suits & Ensembles market in South Korea is projected to generate revenue of €45.03m.
  • It is anticipated that this market will experience an annual growth rate of -1.35% (CAGR 2024-2028).
  • When compared to other countries worldwide, in India leads in revenue generation with a total of €1,647m in 2024.
  • Taking into account the population figures, in 2024, the per person revenue in the Suits & Ensembles market in South Korea is estimated to be €0.87.
  • Looking ahead to 2028, the volume in the Suits & Ensembles market is projected to reach 0.5m pieces.
  • However, in 2025, a negative volume growth of -3.0% is expected.
  • In terms of average volume per person, in South Korea is expected to reach 0.0pieces in the Suits & Ensembles market by 2024.
  • Despite a traditional preference for formal attire, South Korean consumers are increasingly embracing more modern and casual suit styles.

Key regions: China, Philippines, United States, Australia, Europe

 
Marché
 
Région
 
Comparaison de régions
 
Monnaie
 

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on the consumer spending on clothing which comprises women, men, and children segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Apparel market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional Notes :

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.

Vue d’ensemble

  • Revenue
  • Sales Channels
  • Volume
  • Price
  • Global Comparison
  • Methodology
  • Key Market Indicators
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