UK Fashion Market in Steepest Decline Since 2009

British people don’t buy new clothes anymore.high-street-view

Based on Statistics of Kantar Worldpanel, after the second warmest September in UK history, spending on fashion has slumped to a seven-year low. Moreover, figures also indecats that British fashion market has lost over eight hudreard dollors(£700 million) over the last twelve month. September appears to be forth straight month of sales decline.

Researchers revealed that the value of British fashion market had declined since June for the first time since 2010. Customers are reluctant to buy products  in full price and still waiting for deeper discount and promotions. Retailers respinded by investing less in their lines, instead of addressing problems of sales decrease. “Only 10 of our top fashion retailers are worth more than the 700 million pounds which the market has lost, so this decline is equal to one of them disappearing from our high streets,” Noted Noole, Senior analysist of Kantar World panel, “Given the events of this summer this no longer seems impossible.”

Spring Hometextile‘s suggestion is to understanding consumers’ real needs, rather than what retailers’ thought. Base on the fact that the decline has been driven by buying frequencies, retailers need to ensure the stock availablity both online and offline, and dig out more comsumer needs.




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