New Retailing market report from Verdict Research: "Menswear Retailing in the UK | Verdict Market Report"
Boston, MA -- (SBWIRE) -- 09/04/2012 -- Menswear volumes are set to grow in 2012 for the first time since 2008, as inflationary pressures on the market ease and men take more of an interest in fashion, style and their personal appearance. In 2011 visitor share in menswear reached its lowest level since 2007, but as the economy begins to show signs of recovery, new trends in menswear will offer major opportunities to retailers.
- Effectively target shoppers by understanding the key drivers for each age group, average spend per head and estimated population change for 2011-21
- Discover new avenues for growth by understanding which retailers will have the most impact and potential over the coming years
- Grow your sales by understanding the impact a lack of choice has had on your shoppers, and re-evaluate your strategy using detailed customer profiling
- Use our positioning map and analysis of the menswear market to identify under served sectors, and how best to target them
- Develop and improve your multichannel strategy and identify weaknesses in your own offer through our analysis of male online shopping trends
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Between 2011-16 we expect menswear to substantially overperform against the past five years. Moreover, the following five years will offer even more opportunities to menswear retailers. It is therefore important that retailers identify the key trends emerging now, so that they can prepare and adjust their businesses for more exciting times ahead.
Tailoring and suiting have grown in popularity as males take concern over their appearance in the work place. High unemployment has meant that being well presented at an interview and looking the part at work are more important. Fashion trends have moved towards suiting though which has also helped to drive the popularity of formal men's clothing.
Younger customers will remain under financial pressure for longer due to high unemployment and university tuition fees. However, fashion will play a arger role in their lives. While men have traditionally favoured brands there will be more opportunities for value retailers, and own label brands, which enable males to buy into fashion pieces.
Reasons to Get this Report
- How will my core customer change in ten years, how will I need to adapt to serve them better, how much do they spend now, and how can this increase?
- What role will technology play in the future of menswear, and how will this need to be changed to accommodate an ageing population?
- Is the size of my core demographic going to grow over the next ten years, and if not, which age groups should I be targeting?
- How do I need to diversify my offer in order to adapt to the changing trends in menswear?
- What will the size of the menswear market be in 2021, and what will dictate its course over the coming years?
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