UK Clothing Retail Market to Grow by 18.6% by 2013 Says New Report

Oct. 6, 2009 - PRLog -- Report Buyer, the online destination for business intelligence for major industry sectors, has added a market report

The report “Clothing Retailing: Market Report 2009, Seventh Edition” available at http://www.reportbuyer.com/go/KEY00171 examines the UK clothing retailing market, which encompasses women's, men's and children's clothes, as well as clothing accessories. Consumer spending on clothing rose by just 10% between 2004 and 2008 - well below the 19.2% increase in overall consumer expenditure due to the fact that the price of clothing almost certainly fell during the period under review, while the price of many other goods, such as food, rose sharply. Year-on-year growth in clothing expenditure also experienced a decline in 2008, reflecting the impact of the UK recession with consumers becoming increasingly cautious as the year progressed.

According the report’s estimates, supermarkets (notably ASDA, Sainsbury's and Tesco) now account for more clothing sales than any other type of outlet. Supermarkets' share of the clothing market increased from around 10% in 2000 to 23% in 2008, and this expansion is likely to continue as the major multiples devote increasing amounts of floor space to non-food items such as clothes. Supermarkets are particularly strong in the childrenswear sector, accounting for around a third of volume sales of school clothing and footwear.

Small independent retailers have been badly affected by the recession, having already been hit by the expansion of the supermarket chains. Even some larger chains, such as Woolworths, which sold a variety of children's clothes including school wear, have succumbed to the economic downturn. Other victims include Ethel Austin, which went into administration in May 2008 (it was subsequently bought out of receivership), and Principles, which entered administration in March 2009. Meanwhile, chains such as Next and Debenhams have reported falling sales. The recession, which has sparked a price war among the major retailers, is likely to spur the process of consolidation in the industry.

The recession is likely to result in very subdued sales growth in 2009, while an anaemic recovery is also likely to constrain sales in 2010. Value growth will also be depressed by intense competition and discounting among retailers. The report forecasts that sales growth will revive gradually between 2011 and 2013 as the economic environment improves, and the market is forecast to increase by an overall 18.6% between 2004 and 2013.

The report “Clothing Retailing: Market Report 2009 Seventh Edition” is available from Report Buyer at:
http://www.reportbuyer.com/consumer_goods_retail/clothing...

Report Buyer product ID: KEY00171

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