Report CATEGORIES DESIGNER
COLLABORATIONS CREATE URGENCY AND INTEREST
KEY ISSUES IN WOMENSWEAR
THE EXPERIENCE IS CRITICAL TO ADD VALUE
MIDDLE AND OLDER AGE
SEGMENT IS AN OPPORTUNITY
TRADING UP TREND
MULTICHANNEL
Omnichannel is the retail buzzword of the moment. As shoppers increas- ingly use a range of routes to browse and purchase, from store to computer to mobile device, retailers must engage on consumers’ terms. The research sets out a challenging scenario in light of online growth.
While the clothing market overall is expected to increase by 15.3% by 2015, that figure falls to just 5% if online growth and inflation are stripped out. However, multichannel retail complicates this model as an increasing number of retailers begin to leverage their store chains to offer click-and- collect and order online in-store services, and so many more sales cannot simply be categorised as online or offline. The right locations and the right mix of retailers will be ever more key to
a trading location’s success. Curtis says: “Online is going to continue to be a factor and [from a landlord’s perspective] creating centres that embrace technology to deliver profitable stores is going to be key.”
WHERE CONSUMERS HAVE SHOPPED (All numbers are percentages for last six months)
70%
MIDDLE MARKET MOST SQUEEZED FROM CUTTING BACK
KEY ISSUES IN MENSWEAR
30% INTERNET BENEFITING
FROM STRONG GROWTH
FORMAL FASHION TRENDS AIDING GROWTH
20% 10% 8.6% 0%
There are issues affecting the constituent categories of fashion. Trading up has been especially noticeable in womenswear, a category that has been fairly sluggish during the downturn because of women’s decision to cut back; and the extent to which they could do that, given the keen buying in the years before the downturn. The research identifies an opportunity among women aged 45 and over, who are under-served at present. In comparison, menswear volumes have been more stable as more purchases are needs-based. The premium parts of the menswear market have also seen strong growth as branding and brands are more important to male shoppers. The improvement in the quality of kidswear by supermarkets and value retailers, matched with a consumer willingness to cut back, has seen a big shift to value in the kidswear market. “The focus on price and, to a degree, convenience has created ideal conditions for the grocers and value players, which have continued to extend their share of the kids market, often at the expense of the middle market, which has both lost share and responded by reducing price points,” the study concludes.
12 autumn 2012 HIGH STREET PHYSICAL DESKTOP ONLINE
SHOPPING MALL
PHYSICAL
PHYSICAL GROCERS
CATALOGUE ONLINE MOBILE
7.2% 60%
MORE INTEREST IN HIGH STREET PREMIUM
50% 47.6% 40% 41.5% 34.5% 60.9%
THE GROWTH OF THE CLOTHING MARKET BY 2015
CLOTHING INCREASE
(INCLUDING ONLINE GROWTH AND INFLATION)
15.3%
CLOTHING
INCREASE (EXCLUDING
ONLINE GROWTH AND INFLATION)
5%
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