Childrenswear - Market Report
This Key Note Market Report on the childrenswear market focuses on girls', boys' and infants' clothing. Key Note estimates that, in 2003, the total UK market for childrenswear was worth £6.02bn at retail selling prices (rsp), a rise of 4.2% on 2002. In 2003, clothing for girls was the largest sector, accounting for 44.7% of the market.
Since the late 1990s, childrenswear has maintained its position in the clothing market and, in 2003, accounted for 18.9% of the total UK expenditure on clothes. However, as a whole, the clothing market has experienced deflated prices as a result of the emergence of discount and value retailers, and the success of supermarkets with low-priced products. In addition, over the past decade, the decline in the UK child population because of falling birth rates, has had an adverse affect on the childrenswear market.
Overall, between 1999 and 2003, sales of children's clothing grew year-on-year as a result of higher per capita expenditure in the market. This increase in spending is due to a number of reasons, including older parents with higher levels of disposable income, smaller family sizes and guilt-induced spending from working parents. In addition, children themselves are now more vocal consumers, with 'tweenagers' in the 10 to 14 year-old age group particularly aware of fashion and the media.
The market for childrenswear is highly fragmented, with a large number of suppliers and retailers. Although manufacturing continues to move overseas as suppliers seek to minimise costs, over the past decade, the retail market has experienced an influx of players. These companies are attracted by the growing nature of the market, as childrenswear retails at a range of outlets from independent specialists to supermarkets, with a wide range of price points. However, consumers are taking a sophisticated approach to purchasing products and price is not the only driving factor. Other aspects, such as branding and quality, are also a priority, which allows a combination of products, such as designer label sweatshirts with supermarket jeans, to sell successfully in the market.
Between 2004 and 2008, Key Note forecasts that the UK childrenswear market will continue to rise steadily year-on-year, although the rate of growth is likely to slow. The most significant areas of the market are likely to be value products, as well as branded childrenswear items.
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