Home / Knowledge / News / Fashion / Menswear to fuel 24% growth of UK value clothing by '21
Menswear to fuel 24% growth of UK value clothing by '21
28
Jul '16
The UK value clothing market is set to grow by 3.2 billion pounds by 2021 which translates to 23.6 per cent growth on the 2016 figure, according to retail research and analysis firm Verdict Retail.

The company's latest report projects the menswear segment as the main market driver, outpacing womenswear with its forecast growth of 29.2 per cent by 2021, a British website has reported.

Kate Ormrod, senior analyst at Verdict Retail, explains: “Menswear has taken a back seat over the past decade as value retailers have been focusing on enhancing womenswear offers. However, as male interest in fashion and personal appearance builds, retailers are starting to respond to male consumers' growing demands for more choice, style, and newness.

“The likes of H&M and New Look have an opportunity to make significant share gains, but they must drive destination appeal and loyalty among shoppers.”

Verdict Retail's survey of 10,000 UK consumers found that the country's value clothing shoppers now place more importance on value for money and quality than they have previously, with value for money scoring 8.6 out of 10 for importance when it comes to store selection, and quality scoring 8.4.

“Focusing solely on price will not satisfy value clothing shoppers. Retailers will lose favour if they opt to downgrade the quality of fabric and fit of their clothes to protect margins and offset rising inflationary pressures caused by the weak pound following Britain's decision to leave the EU, Ormrod said.

She stressed that value players need to make investment across the board with improved instore merchandising, a personalised shopping experience online with a range of delivery options, enhanced product design and quality, and regular newness to entice frequent spending and retain shopper loyalty.

Verdict Retail has forecast that the online channel will account for 11.5 per cent of the UK value clothing market in 2016, compared to 22.5 per cent for the total UK clothing and footwear market, indicating how far behind value clothing retailers are in terms of online maturity – accentuated by Primark's notable online absence. However, over the next five years, online value clothing sales are forecast to grow by 84.9 per cent to a share of 17.2 per cent. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search