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Value Clothing Retail in the UK | Verdict Market Report, Verdict Retail

  • May 2014
  • 152 pages
  • GlobalData
Report ID: 3468656

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Summary
The UK value clothing market has experienced 10 years of impressive growth, outperforming the total UK clothing market for more than 15 years. We forecast a 5.3% rise in value clothing expenditure in 2015, as retailers broaden their ranges, invest in multichannel operations and engage with shoppers via personalised initiatives.

Key Findings
- Provides data and insight on market size, sales and growth rates for value clothing overall and at sub-sector level, helping to plan range development

- Provides expenditure breakdown across the value, midmarket and premium clothing sectors highlighting the areas which offer the most growth potential

- Market issues are examined; multichannel development, consumer analysis, online growth prospects, international expansion opportunities

- Value clothing expenditure forecast to 2020 and analysis of overall clothing volume growth and value clothing drivers in the next five years

Synopsis
59.2% of consumers agree that they look for low prices when buying into short-term fashion trends, according to Verdict's 2015 UK clothing and footwear survey. Value players such as HandM and New Look have focused on developing their fashion-led offers throughout 2015 to cater to demands, boosting the frequency of shopper visits and spend per head.

The shift in the customer base and consumer willingness to buy across the value segment as well as the mid and premium markets means that value retailers now have a far more varied shopper base to satisfy. ABC1 shoppers now account for over 45% of value clothing shoppers, causing players to place more focus on fashion, style and product quality.

The online channel will also fuel sales growth, and in the coming five years we expect to see online sales rise among all major players, and in particular at TK Maxx, Matalan, HandM and New Look, where greater editorial content, and enhanced online functionality will make their offers more accessible and the online purchasing process more enjoyable.

Reasons To Buy
- What proportion of value clothing sales will come from online in 2015? What must value players do to further capitalise on this growing channel?

- How will growth in the value clothing market differ in the five years to 2020 from the previous five years? What must I do to ensure sales growth?

- Which segments of the market offer the best growth potential? How is the mid market/premium sector performing following the recessionary period?

- Which value clothing retailers will gain the most market share in 2015, and who are expected to be the greatest share losers and why?

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