UK Menswear Retailing Market Size, Cost and Price, Analysis, Key Trends and Opportunities Forecasts 2020
The UK menswear market will grow by£3.2bn in the five years to 2020 - equating to 29.5% growth on 2015. A growing interest in fashion and a willingness to buy more frequently will boost future spend, with spend by per increasing by over£100 in the coming five years.
The UK menswear market will grow by£3.2bn in the five years to 2020 - equating to 29.5% growth on 2015. A growing interest in fashion and a willingness to buy more frequently will boost future spend, with spend by per increasing by over£100 in the coming five years.
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<strong>UK</strong> <strong>Menswear</strong> <strong>Retailing</strong> <strong>Market</strong> <strong>Size</strong>, Share, Growth, <strong>Cost</strong> <strong>and</strong><br />
<strong>Price</strong>, <strong>Analysis</strong>, <strong>Key</strong> <strong>Trends</strong> <strong>and</strong> <strong>Opportunities</strong> <strong>Forecasts</strong> <strong>2020</strong><br />
Summary<br />
The <strong>UK</strong> menswear market will grow by£3.2bn in the five years to <strong>2020</strong> - equating to 29.5% growth on 2015. A<br />
growing interest in fashion <strong>and</strong> a willingness to buy more frequently will boost future spend, with spend by per<br />
increasing by over£100 in the coming five years. With competition deepening, retailers can gain a competitive<br />
advantage by building their ranges of non-core product areas such as big <strong>and</strong> tall, tailoring <strong>and</strong> sportswear, to grow<br />
destination appeal by serving niche customer groups.<br />
Access Full Report with TOC @ http://www.radiantinsights.com/research/menswear-retailing-in-the-uk<br />
<strong>Key</strong> Findings<br />
- The <strong>UK</strong> menswear market is forecast to grow by 29.5% between 2015 <strong>and</strong> <strong>2020</strong>, the strongest growth of all the<br />
<strong>UK</strong> clothing sectors. This will be driven by males becoming more interested in trends <strong>and</strong> fashion, encouraging<br />
them to shop <strong>and</strong> purchase more frequently.<br />
- Though M<strong>and</strong>S still has the largest share of the market in 2015, this continues to be eroded by stronger<br />
performing rivals such as Next <strong>and</strong> Primark, which are enticing M<strong>and</strong>S's family shoppers <strong>and</strong> gradually encroaching<br />
on the top spot.<br />
- As wage growth recovers <strong>and</strong> improved disposable incomes allow consumers to increase their spend on clothing,<br />
average spend per head on menswear will reach£526.35 in <strong>2020</strong>.<br />
- More choice is required to build penetration among mature males as 33.0% of 65+s say there is not enough<br />
stylish clothing <strong>and</strong> footwear targeted directly at them <strong>and</strong> 68.0% say they care a lot about their personal<br />
appearance.<br />
- The menswear online clothing market is forecast to grow by 162.2% in the five years to 2015 reaching£2.2bn, as<br />
spend shifts from more traditional shopping methods <strong>and</strong> multichannel retailers such as Top man, John Lewis,<br />
River Isl<strong>and</strong> <strong>and</strong> New Look continue to invest in their platforms <strong>and</strong> increase menswear product availability online.<br />
Synopsis<br />
The <strong>Menswear</strong> <strong>Retailing</strong> in the <strong>UK</strong> report offers a comprehensive insight into the menswear market in the <strong>UK</strong>,<br />
analysing the market, the major players, <strong>and</strong> the main trends. It also provides forecasts to <strong>2020</strong>.<br />
It provides in-depth analysis of the following:<br />
- <strong>Market</strong> <strong>Size</strong>
- <strong>Market</strong> Forecast<br />
- <strong>Market</strong> Shares<br />
- Channel Shares<br />
- Outlook<br />
- Recommendations<br />
- <strong>Trends</strong><br />
Reasons To Buy<br />
- Utilise the detailed data <strong>and</strong> insight on the market to help form an effective growth strategy in the menswear<br />
sector<br />
- Learn how men's growing dem<strong>and</strong> for fashion will boost spend in the sector, <strong>and</strong> how retailers should respond<br />
- Identify the opportunities to grow business in this sector by comparing strategies of the key players in the market<br />
<strong>and</strong> their performance metrics<br />
- Underst<strong>and</strong> how spend per head will change over the coming years, <strong>and</strong> learn which age groups will be most<br />
lucrative to target<br />
- Utilise consumer data on big <strong>and</strong> tall menswear to underst<strong>and</strong> opportunities in the category<br />
- Underst<strong>and</strong> the opportunities in the online menswear market by learning about online shopping habits <strong>and</strong> the<br />
customer journey<br />
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Table of Contents<br />
1 Executive Summary<br />
1.1 <strong>Key</strong> findings<br />
2 Outlook<br />
2.1 <strong>Menswear</strong> spend up 3.9% to£10.8bn in 2015<br />
2.2 Fashion <strong>and</strong> willingness to buy more frequently boost future spend<br />
2.3 Gaps in the market must be targeted to maximise growth opportunities<br />
2.4 Spend per head will grow by over£100 to£526.35 in <strong>2020</strong><br />
2.5 Introducing new product categories can drive spend <strong>and</strong> differentiate propositions<br />
2.6 Investment in big <strong>and</strong> tall ranges would improve differentiation <strong>and</strong> satisfy an underserved market segment<br />
2.7 Online menswear spend to grow 162.2% in five years to 2015<br />
2.8 Underst<strong>and</strong>ing the online shopper journey is crucial<br />
2.9 M<strong>and</strong>S loses out to stronger <strong>UK</strong> menswear rivals<br />
3 Recommendations<br />
3.1 Underst<strong>and</strong> <strong>and</strong> adapt to male shopping habits by age<br />
3.2 Meet dem<strong>and</strong> for more fashion<br />
3.3 Invest in the big <strong>and</strong> tall category<br />
3.4 Retailer recommendations<br />
3.5 Underst<strong>and</strong> online shopping habits <strong>and</strong> customer journey<br />
3.5.1 Customer segments<br />
3.5.2 Shopping habits
4 <strong>Market</strong> <strong>Size</strong><br />
4.1 <strong>Market</strong> definition <strong>and</strong> analysis<br />
4.2 Clothing market sector breakdown<br />
4.2.1 Womenswear continues to drive market growth<br />
4.3 <strong>Menswear</strong><br />
4.3.1 Spend on menswear rises£1.3bn in five years to 2015<br />
4.4 <strong>Menswear</strong> subsector performance<br />
4.4.1 Retailers place greater focus on menswear, driving outerwear<br />
4.5 <strong>Market</strong> price segmentation<br />
4.5.1 Shift in male shopping habits should benefit value clothing retailers <strong>and</strong> own br<strong>and</strong>s<br />
4.5.2 Value players invest in areas other than price<br />
4.5.3 Midmarket players fail to protect share<br />
4.5.4 Premium market holds growth potential<br />
4.6 Spend per head<br />
4.6.1 Men will spend an extra£12.37 on clothing in 2015<br />
4.6.2 Highest spend per head among young professionals<br />
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