Menswear Retailing in the UK | Verdict Sector Report; Market size, strategic issues and competitive outlook

Menswear Retailing in the UK | Verdict Sector Report; Market size, strategic issues and competitive outlook

  • January 2016 •
  • 129 pages •
  • Report ID: 4109444 •
  • Format: PDF
Summary
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. With competition deepening, retailers can gain a competitive advantage by building their ranges of non-core product areas such as big and tall, tailoring and sportswear, to grow destination appeal by serving niche customer groups.

Key Findings
- The UK menswear market is forecast to grow by 29.5% between 2015 and 2020, the strongest growth of all the UK clothing sectors. This will be driven by males becoming more interested in trends and fashion, encouraging them to shop and purchase more frequently.

- Though MandS still has the largest share of the market in 2015, this continues to be eroded by stronger performing rivals such as Next and Primark, which are enticing MandS's family shoppers and gradually encroaching on the top spot.

- As wage growth recovers and improved disposable incomes allow consumers to increase their spend on clothing, average spend per head on menswear will reach £526.35 in 2020.

- More choice is required to build penetration among mature males as 33.0% of 65+s say there is not enough stylish clothing and footwear targeted directly at them and 68.0% say they care a lot about their personal appearance.

- The menswear online clothing market is forecast to grow by 162.2% in the five years to 2015 reaching £2.2bn, as spend shifts from more traditional shopping methods and multichannel retailers such as Top man, John Lewis, River Island and New Look continue to invest in their platforms and increase menswear product availability online.

Synopsis
The Menswear Retailing in the UK report offers a comprehensive insight into the menswear market in the UK, analysing the market, the major players, and the main trends. It also provides forecasts to 2020.

It provides in-depth analysis of the following:

- Market Size

- Market Forecast

- Market Shares

- Channel Shares

- Outlook

- Recommendations

- Trends

Reasons To Buy
- Utilise the detailed data and insight on the market to help form an effective growth strategy in the menswear sector

- Learn how men's growing demand for fashion will boost spend in the sector, and how retailers should respond

- Identify the opportunities to grow business in this sector by comparing strategies of the key players in the market and their performance metrics

- Understand how spend per head will change over the coming years, and learn which age groups will be most lucrative to target

- Utilise consumer data on big and tall menswear to understand opportunities in the category

- Understand the opportunities in the online menswear market by learning about online shopping habits and the customer journey
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