PROSPECTS AND OPPORTUNITIES
Apparel and footwear specialists set for marginal decline over forecast period
Value sales of apparel and footwear specialists (at constant 2024 prices) are expected to marginally decline over the forecast period, with consumers becoming increasingly selective in their spending amid continued economic uncertainty. As disposable incomes remain under pressure, consumers are likely to prioritise essential purchases, leading to a decrease in discretionary spending on fashion and footwear.
Specialists likely to further invest in the in-store experience
Apparel and footwear specialists will likely continue to prioritise creating immersive shopping experiences that captivate consumers beyond traditional transactions. This can include dynamic store designs, ambient lighting, and interactive displays that enhance the overall sensory experience.
Sustainability initiatives likely to drive long-term differentiation
Sustainability is expected to remain a key focus in the UK, with retailers expanding circular fashion programmes, offering clothing rental services, and promoting repair and resale options. As local consumers increasingly prioritise sustainability in their purchasing decisions, retailers that offer these options will not only meet growing demand but also establish themselves as leaders in responsible fashion, enhancing their long-term appeal and sales beyond those services.
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Overview:
Understand the latest market trends and future growth opportunities for the Apparel and Footwear Specialists industry in United Kingdom with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Apparel and Footwear Specialists industry in United Kingdom, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Apparel and Footwear Specialists in United Kingdom report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Apparel and Footwear Specialists in United Kingdom?
- Which are the leading retailers in Apparel and Footwear Specialists in United Kingdom?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
Apparel and Footwear Specialists in the United Kingdom - Category analysis
KEY DATA FINDINGS
Marginal growth for apparel and footwear specialists driven by consumer resilience
Notable developments among leading players to enhance in-store experiences
Strong growth of pure online brands Asos and Shein limit growth of apparel and footwear specialists
Apparel and footwear specialists set for marginal decline over forecast period
Specialists likely to further invest in the in-store experience
Sustainability initiatives likely to drive long-term differentiation
Retail in the United Kingdom - Industry Overview
Retail in 2024: The big picture
Value-driven shopping continues to reshape UK retail landscape
Retail e-commerce thrives on convenience and competitive pricing
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Valentine’s Day
International Women’s Day
Easter
Back-to-school
Black Friday
Christmas
DISCLAIMER
Apparel and Footwear Specialists
Apparel and footwear specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: clothing, footwear, and/or fashion accessories (costume jewellery, sunglasses, belts, hats, gloves, handbags, scarves, etc.). Apparel specialists include specialty apparel like wedding dress shops. Example brands include Primark, TJ Maxx, and Zara. Sportswear retailers, such as Adidas and Nike, are excluded from this channel and are included in Sports Goods Stores; this is due to the companies considering themselves sports companies as opposed to apparel companies.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Apparel and Footwear Specialists research and analysis database.
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