Summary
The
casualwear market has seen in a boom in people seeking fitness wear, this is
leading to the reduction of space in store for more conventional casualwear
options as retailers invest into fashionable fitness ranges. Fortunately
retailers are often able to cross-merchandise their fitness wear alongside
casual wear. Additionally people are less willing to spend a significant amount
of money on casual wear therefore more affordable retailers are benefitting.
Fashion retailers are also seeking ways to better entertain their customers,
with interesting, quirky store layouts and designs as well as branching into
offering services and coffee shops in store.
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Key Findings
-
Casualwear represents the biggest single segment of the Clothing and Footwear
market. While deflationary trends are still a problem for the market, owing to
declining cotton prices and increasing competition at the value end, high
volumes continue to give way to value growth.
-
Online growth is now one of the biggest opportunities for growth, with internet
sales expected to increase significantly for the Casualwear market by 2020.
-
Online shopping is stimulating further competition as consumers use the
internet to seek fashion from international players as well as domestic
retailers.
-
Low inflation means most of the growth in the market over the next five years
will be dependent on high volume sales, which is likely to lead to increased
competition and a change in the nature of promotional activities which could
see more multi-buy deals infiltrating the market.
-
Fashion trends still play a big role in encouraging purchases in casualwear.
For example, the widespread denim trend that has extended beyond staple jeans
to encompass multiple categories like dresses, skirts, shirts and jackets has
boosted sales of casualwear over the past year.
-
57.6% of consumers put as much thought into their casual outfits as they do
when dressing up. This means that casual clothing needs to be both comfortable
and durable as well as fashionable.
Synopsis
“What
Britain Wears Casual Wear”, a Trend Report by Verdict Retail, providing an
executive-level overview of Britains spending on casual wear with forecasts of
values and volumes up to 2020. It delivers deep quantitative and qualitative
insight into the casualwear market, analyzing key trends in the market based on
proprietary data from Verdict Retail's aftermarket databases.
It provides
in-depth analysis of the following:
-
Market size and forecast; a look at the total market size and forecast size for
casual wear in Britain
-
Market value and forecast; a look at the total market value and forecast value
for casual wear parts in Britain.
-
Summary of main players; with their past and future performances outlined and
ranked.
-
Consumer behavior in purchasing casual wear; an insight into who buys the
products and what products are being brought.
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