Being in the industry for over a century, Carter’s has shown that baby clothing is always demanded, and the sales can increase yearly. Although the brand has been in the industry for so many years, the company’s sales have not dramatically dropped and constantly show positive dynamics. The quality, concept, and loyal audience of the brand brought the corporation the title of an industry leader causing record sales.
Children’s clothing industry in 2022
The children’s clothing market is one of the most stable and profitable on the worldwide level. IMARC Group assumes that the children’s clothing market will develop steadily and grow by 5.1% annually from 2022 to 2027, eventually reaching $352.4 billion by 2027.
Even during the years of the pandemic, this industry did not suffer, but, on the contrary, hit sales records. In particular, this is due to the growing popularity of online shopping, which made it possible to buy things without leaving home. Also, discount sites, such as Promocodius, played a significant role in sales increase, making it possible to shop at better prices.
Carter’s shows a stable increase in sales
Carter’s has reached sales of $3.5 billion in 2019, becoming the leading baby clothing retailer in the world. And the company does not reduce the pace of its development and presence in the children’s clothing market worldwide.
Due to the company’s press release, the net sales increased by 26% in 2022 compared to the year before and reached the $1.1 billion mark. These are impressive results compared to main competitors: Adidas AG, Esprit Global Image GmbH, Levi Strauss & Co., The Children’s Place, Inc., and Gap Inc.
One of the main reasons for a retailer’s good sales is the affordable pricing policy. In addition, the company regularly conducts promo campaigns and offers customers to get coupon Carters that will help them save money. Of course, such a model attracts new customers and retains the loyalty of existing ones. Quality and a wide range of goods are, for sure, important factors, but the price component should not be underestimated, especially when it comes to the children’s clothing market with a very high level of brand competition.
Promising forecasts
Analytics of Carter’s forecast annual sales of the company will grow to $4 billion by 2026. And there is no doubt that Carter’s will be the leading children’s clothing brand in the upcoming years, increasing its sales yearly. Over the years, the brand has earned a good name, and as long as the company makes quality products for children and follows an affordable pricing policy, customers will turn to the shops again and again. And the demand for goods for children certainly will not decrease.
Of course, the option of new players entering the market, which will offer an even wider range of products and more favorable conditions for customers, is not ruled out. But time will tell. Besides, who do you trust more: new ambitious brands or brands with a long history and millions of satisfied customers?