Korea : Demographic Changes Alter Apparel Industry

As the birth rate has continued to decline in recent years, the market size for apparel for babies and infants is visibly constricting, while the market for adults in their 30s and 40s continue to expand, a survey showed yesterday.

Korea Federation of Textile Industries released a survey of 2,500 household units nationwide, which tracked their clothing consumption trends.

The survey showed that the size of the apparel market for newborn babies and infants up to 3 reached 333.3 billion won ($277.8 million) in value last year, down 1.9 percent from the previous year.

It is the second consecutive yearly decline, following a 5.8 percent drop last year.

The market size for older children and adolescents - those between the ages of 4 and 18 - also shrunk last year to 1.46 trillion won, down 1.1 percent from 2001.

It is the third consecutive year of decline; including a 3.5 percent drop in 2001 and a 7 percent fall in 2000.

The market share of apparel for children and adolescents tightened from 22.8 percent in 1999 to 20.5 percent in 2000, 19.8 percent in 2001 and 17.5 percent last year.

The market share of apparel for adults in their 40s, in the meantime, stretched from 18.7 percent in 2000 to 21.3 percent in 2001 and 24.3 percent last year.

The comparative percentages for the consumers in their 30s also gradually increased, from 23.2 percent in 2000 to 24.1 percent in 2001 and 25.9 percent last year.

Other age groups posted slight declines in their share of the apparel industry, with the market share for the age group of 20-year-olds falling from 17.4 percent in 2000 to 17.3 percent in 2001 and further to 16.2 percent last year. The market size for the those in their 50s also decreased from 17.9 percent in 2000 to 17.3 percent in 2001 and 15.2 percent last year.