Dublin, June 03, 2024 (GLOBE NEWSWIRE) -- The "Apparel Market in the UK to 2028" report has been added to ResearchAndMarkets.com's offering.
The UK Apparel Market to 2028 report offers comprehensive insight and analysis of the UK apparel market, the major players, the key trends, and consumer attitudes.
In 2023, the UK apparel market grew just 2%, driven by price increases, with volumes declining 2.6%, as ongoing inflationary pressures continued to weigh on consumer confidence. The market is expected to slow even further in 2024, as consumers remain cautious with their money, though demand is expected to improve in the latter part of the year, as the economy improves.
From 2025 onwards the market will begin to improve, as inflation stabilizes, and consumer appetite returns. However, consumers will retain a prudent approach to spending, as they continue to favor capsule wardrobes and are less receptive to fast fashion trend cycles, while spend will also keep being diverted into the resale market.
Report Scope
- After a drop-off in 2022, the online market experienced an uplift in 2023, rising by 2.3%. Demand is expected to become more subdued again in 2024, hindered by online pureplays like ASOS and boohoo.com, which have been facing significant losses.
- Primark maintained its market lead in 2023, growing its share by 0.3ppts, as its value proposition and trend-led assortment continues to resonate with shoppers during the cost-of-living crisis
- Accessories is anticipated to record the strongest growth between 2023 and 2028. However, its share of the total market will remain below 2018 levels, as the category remains less essential than both clothing and footwear, so is easier for shoppers to cut back on.
- The UK premium market is expected to be the best-performing price segment in the forecast years. The market will continue to benefit from shifting consumer purchasing habits, with many prioritizing versatile, high-quality pieces over trend-led items as the economic outlook remains weak.
Reasons to Buy
- Understand where the demand lies within the UK Apparel market across various price positionings, categories, and brands, to allow you to maximise customer acquisition.
- Learn how continued inflationary challenges will impact the UK Apparel market, and which players are most at threat from changing consumer habits.
- Identify the key approaches brands are taking to stand out in the UK Apparel market, and how you can adapt these to fit your own business.
Key Topics Covered:
- EXECUTIVE SUMMARY
- UK Apparel Market Drivers
- UK Apparel Market Inhibitors
- Economic Background
- UK APPAREL MARKET: MARKET SIZE TO 2028
- UK Apparel Market, 2018-2028
- UK APPAREL MARKET: CATEGORY PERFORMANCE TO 2028
- UK Apparel Market by Category, 2018, 2023 & 2024
- UK Clothing Categories 2018-2028
- UK Footwear Categories 2018-2028
- UK Accessories Category 2018-2028
- UK Apparel Market by Price Positioning, 2023, 2024 & 2028
- UK Sportswear Market 2018-2028
- UK APPAREL MARKET: CHANNEL PERFORMANCE TO 2028
- UK Online vs Offline Channel Growth 2018-2028
- UK Apparel Market by Channel, 2023 & 2028
- CONSUMERS
- Purchase Drivers
- Fashion Preferences
- Experiences When Shopping for Apparel
- Brand and Retailer Preferences
- Secondhand Apparel Purchases
- Apparel Rental Penetration
- COMPETITVE LANDSCAPE: BRANDS
- Top 10 UK Apparel Market Shares 2021-2023
- Top 10: Winners & Losers Outlook
- Brand Profiles
- PrettyLittleThing
- M&S
- George (at ASDA)
Company Coverage:
- Adidas
- Alo Yoga
- ASDA
- ASOS
- Bershka
- Boohoo
- Burberry
- F&F
- George
- H&M
- John Lewis & Partners
- Lululemon
- Marks & Spencer
- Matalan
- Mulberry
- Next
- Nike
- PrettyLittleThing
- Primark
- Tala
- Tesco
- Vinted
- Zara
For more information about this report visit https://www.researchandmarkets.com/r/m8opn8
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