Wholesale clothing market in UK will grow by nearly 17% over the next three years. The market will be driven by inflation owing to weak pound driving up manufacturing and import costs.
According to forecast menswear will be the fastest growing sector by 2022 with over 21% growth of outperforming womens wear by about 6% points. Growth will be encouraged by the increasing influence of fashion as well as extended investment by wholesale clothing suppliers and retailers in the category.
It is predicted that clothing will outperform total retail growth between 2019 and 2022 as the third fastest growing industry after food & grocery and health & beauty. Although spending by customers will be under pressure, clothing will continue to be robust with around 17% expected growth over the next three years. Concerns of consumers about their appearance, their interest in fashion trends & desire to serve them will drive growth.
General merchandisers will achieve the fastest growth in the sector at around 20% in the coming years. Young shoppers of clothing have the higher frequency of purchase with nearly 58% of youth between 16-24 years of age buying cloths at least once in a month, enhanced by shoppers’ desire for newness and fast fashion trends. In contrast only around 14% of buyers over 65 years of age buy cloths once in a month.
Value for money is the biggest motivator for purchase of clothing, mainly among mature buyers. This is closely followed by quality and then price. Value for money & quality were top two drivers across all socio economic groups, ensuring it is not just low price that will accumulate sales as buyers try to justify purchases at a time when their discretionary spending is limited.
According to forecast the online clothing market will grow by around 55% to 2022.
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Over 24% of clothing shoppers online have used click and collect; though this driven by females with just under one fifth of males having used the delivery method, compared to almost one third women online clothing shoppers.
There are huge wholesale clothing market opportunities right now in the USA as well. But you have to know the wholesale marketplaces first. Let's discuss regarding a wholesale fashion marketplace which is Stylepick.
ReplyDeleteStylepick is an online wholesale fashion marketplace dedicated to inspire manufacturers and the best wholesale women's clothing vendors through the combination of trendy styles and user friendly web interface. It is a virtual fashion district for all vendors and retailers globally. Established in Los Angeles, Stylepick offers experiential wholesale environments and a mix of the latest and top wholesale women's clothing from different vendors like J.nna, Blue B, Day & Night, Hers & Mine, Davi & Dani, Spotlite and many more.
To know more details for other vendors like Stylepick, you may read wholesale marketplaces in USA.