Objective of the Study
This research proposal aims on finding out the feasibility of exporting the MCKENNA Jacket from Canada to Germany, and how much it is expected that this business would be profitable. Europe is a robust garment market with steady growth, and it is the residence of some of the globe’s largest and most recognizable apparel brands. In 2020, the European garment import market was worth €127.4 billion, dropping from €146.9 billion in 2019. The COVID-19 pandemic, as well as a deterioration of foreign commerce, caused a considerable reduction of 13.3 percent. From 2016 to 2019, the markets involve at an annual pace of 4.7 percent on average before 2020. In 2023, the market is likely to rebound to its previous sales levels.
This study is focused on determining what are the proposed demands for jackets and then determining the prospects and opportunities in the German market, by exporting the Mckenna jackets from Canada to German. In this paper data obtained from various previous researches are being used to evaluate such decisions by finding out the research questions in simplifying this process.
This research would highlight the trends that would show the requirements and tastes and preferences for the apparel, especially in the European nation like Germany which is a great market for the jackets as the German population have a tendency. The Germans are well known for the imports of leather jackets and other outerwear with an increasing trend. This research would aim to find out any gap or opportunity that would be filled by meeting the requirements of the population and earning ample profits. Germany, France, Spain, Italy, the Netherlands, and Poland are the most important European markets, accounting for approximately 75% of all EU clothing imports globally and 79.5 percent of all intra-EU imports.
Therefore, a simple aim is to study and check the prospective demands for the Jackets in the German market by addressing the following research questions:
RQ1. What positive and negative trends of apparel like a jacket in the German market?
RQ2. What are the factors causing the impacts like the demand and supply of Jackets and how to deal with such an imbalance between this demand and supply?
RQ3. How do meet the requirement of the taste and preferences of the population to drive the sales in the German?
As per the studies conducted by Hyosun An & Minjung Park, Fashion trend predictors collect and evaluate a variety of sources to convert design concepts, details, colors, and patterns into what will be trendy in the coming season (DuBreuil and Lu 2020). Fashion exhibits, in particular, have played an important role in the establishment of short-term fashion trends that may span anywhere from months or even years (Sproles 1981). The Delphi technique is used to assess design factors including style (e.g., Furukawa et al. 2019), color (e.g., Xiong et al. 2017), fabric, and patterns in fashion collections.
Rationale of the Research
The Delphi method is a concept based on the analysis of several rounds of surveys addressed to an advisory panel consisting of experts in this field. Furukawa et al. (2019), for example, looked at style trends by sending questions to 55 people who had completed a fashion design program. They created a set of eight distinct pairings of adjectives (i.e., dark–light, casual–formal) to categorize 495 fashion collection photographs using substantive differentials.
The Google Fashion Trend survey aggregated data from over six billion queries on a vast scale. Time-series analysis was used to group the fashion-related queries into six cases: “continuous growth,” “periodic growth,” “future stars,” “prolonged decline,” “monsoonal decline,” and “dropping stars.” However, as the Google analysis confirms, it’s impossible to tell if a searcher was looking to buy anything or whether they were looking for something else.
Fashion trend predicting research utilizing text mining has made tiny but noteworthy improvements by taking into account more information. Text mining also referred to as text data mining is a technique for extracting large amounts of information from textual information. Natural language processing, a type of computer developed to take huge volumes of linguistic content and put it into a usable form for investigators by extracting specific keywords, is used to finish the text mining study. This is accomplished using a variety of approaches, including part-of-speech assessment, degree centrality analyzation, and regularity of recurrence analysis. Fashion forecasters are harnessing data from social media to better their expertise and steer customer purchase decisions, thanks to the expanding availability of text mining.
The study was based on the inputs in the form of trends identified which employs a text mining approach to determine the latest fashions over the last decade and a semantics hierarchical clustering to display the rising trends with particular design aspects for the fashion accessory; in particular, it examines individual blog content on jacket design in new designs. Fashion bloggers have been demonstrated to work along with such principles of generating and recording their styles by mixing diverse important examples in blogs, which constitute the first area of fashion social networks. Designers used the search terms “fashion collection” and “jacket” for this reason. This strategy is based on the characteristics of fashion collections, which are the building blocks of the fashion cycle.
To begin, the researchers would gather blog articles using certain search phrases and studied monthly fluctuations in the number of posts. The acquired data would be then refined using text mining techniques such as phrase segmentation and word elimination. To identify popular fashion terms, a frequency analysis would be performed. Third, time-series clustering would be utilized to divide fashion trends into four groups: rising, declining, evergreen, and periodic. From the 2009 summertime to the 2018 autumn seasons, every trend would be examined using the ratio of total incidence to 20 seasons. Finally, the semantic network analysis would be utilized to depict the growing patterns in the newest season using certain design aspects and sentiment terms.
Research Questions
Data from 20 seasons were processed once they were collected. To break postings into distinct sentences, we used Textom version 2.0, then used it again in each phrase to separate keywords. The data was then refined by correcting, controlling, and removing the terms. In the correction phase, the space, abbreviation, and multiple forms of the terms were adjusted, while in the management system, terms with comparable meanings were unified. Researchers looked at the part-of-speech of the gathered terms and removed nouns and adverbs that were used more than 1% of the time over the relevant period during the keyword removal procedure. Verbs like ‘are’ and ‘is’ were deleted since they didn’t play a substantial part in communicating the context’s meaning.
In terms of color patterns, red has steadily risen over time, while brown has steadily decreased, from 13.5 percent frequency in 2012 fall/winter to 0.3 percent frequency in 2018 fall/winter. In an annual recurrent pattern, the color white grew during the spring/summer days and dropped during the fall/winter seasons. Padding material was rarely mentioned among customers in 2009, following which it gradually gained in popularity, reaching a peak of 73.5 percent in the 2018 fall/winter season. This indicates that padding fabric has a lot of room for expansion in the forthcoming fall/winter season.
In terms of printed design trends, scattered patterns were just 3.9 percent in the 2012 fall/winter season, but they progressively increased to 28.3 percent in the 2017 fall/winter period. Floral designs exhibited the same overall frequency as checkerboard patterns, but their frequency rose over the spring/summer season, demonstrating a strong summer feature. The following outcomes are revealed from the Statista where multiple previous samples for the German population are collectively analyzed:
- In 2022, the Coats & Jackets category will generate US$4.38 billion in revenue. The market is predicted to increase at a rate of 0.66 percent every year (CAGR 2022-2026).
- By 2026, sales in the Coats & Jackets market are predicted to reach 60.74 million units. In 2023, the Coats & Jackets market is predicted to rise by 3.8 percent in volume.
- In 2022, the average volume per individual in the Coats & Jackets category is predicted to be 0.66 items.
As per Guangchun Ruan and Dongqi Wu (2020), a research study will have some limitations no matter how well it is planned. To begin with, time is always a concern or a restriction in every investigation. Furthermore, resource accessibility remains a challenge. There seems to be a chance that a few resources will be absent or unavailable. In actuality, the replies gathered from the questionnaire may no longer be enough to accomplish the desired outcome. Furthermore, getting consent from planning for the interview dates may be problematic. However, the study must be organized in the most proper manner to help in the proper completion of the research. S. Garcia et al., 2021).
From the facts derived from the outcome of the research
- From 2013 and 2017, European consumption of outerwear grew at a rating average of 3.8 percent, hitting €7.9 billion in 2017.
- German (€1.4 billion) has the biggest demand, compared to the United Kingdom (€1.1 billion) and France (€1.2 billion).
- With an average yearly growth rate of 7.5 percent, European jacket imports climbed from €16 billion in 2013 to €22 billion in 2016.
- Imports from Europe are likely to expand at a similar rate in the future years.
- With €4.7 billion in jacket shipments in 2017, Germany is by far Europe’s top consumer. The United Kingdom (€2.8 billion) and France (€2.6 billion) are distant second and third, respectively.
Therefore, when the questioning imports by developing countries, Germany is still leading €3.6 billion), followed by France (€1.8 billion) and Spain (€1.8 billion). Spain and Germany imported around 80% of the jackets and other clothing from the developing nations. It is recommended to do the business in this segment as there is ample space for profits.
References
https://link.springer.com/article/10.1186/s40691-020-00221-w#Sec2
https://www.frontiersin.org/articles/10.3389/frsus.2021.624913/full
https://www.voguebusiness.com/companies/how-to-track-resale-and-the-grey-market
https://www.cbi.eu/market-information/apparel/what-demand
https://www.cbi.eu/market-information/apparel/outerwear#which-european-markets-offer-opportunities-for-exporters-of-outerwear
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