Table of Contents
Introduction
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- Definitions
- Abbreviations
Executive Summary
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- The market
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- Figure 1: Best- and worst- case forecast spending on clothing and footwear by 15-24s, at current prices, 2007-17
- Market drivers
- Dwindling number of 15-24-year-olds
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- Figure 2: Projected numbers of 15-24-year-olds in the UK, 2007-12 and 2012-17
- Changing face of higher education
- The financial situation of 15-24s
- Clothing number one priority
- Appearance most important to those who live with parents
- High rate of unemployment
- Companies, brands and innovation
- Retail competitor analysis
- Who’s innovating
- The consumer
- Outerwear purchases drop slightly
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- Figure 3: Trends in purchasing outerwear in the last 12 months among 15-24s, 2008-12
- The shifting retail landscape
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- Figure 4: Outlets where clothing has been purchased in the last 12 months among 15-24s, 2011 and 2012
- Retailers and age
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- Figure 5: Outlets where clothing has been purchased in the last 12 months among under-25s, by age range, October 2012
- Women mix and match retailers
- 18-24s wait for the sales
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- Figure 6: Attitudes towards buying or shopping for clothes, by age, October 2012
- Three in ten women buying clothes less frequently
- 15-17s use other money-saving tactics
- 15-17s spend parents’ money on clothes
- Enjoyment of in-store shopping beats online
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- Figure 7: Further attitudes towards buying clothes, October 2012
- Quality becomes more important
- 15-17s most fashion-led
- Social media and fashion
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- Figure 8: Reasons for interacting with fashion brands, by 16-24s, April 2012
- What we think
Issues in the Market
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- What is the difference between the spending habits of teenagers and those in their early twenties?
- Where do under-25s shop?
- How is multichannel affecting the way 15-24s shop?
- Is clothing still a high priority for under-25s?
- To what extent do promotions appeal to under-25s?
Trend Applications
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- Trend: Influentials
- Trend: Guiding Choice
- 2015 Trend: Brand Intervention
Market Drivers
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- Key points
- Changing face of higher education
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- Figure 9: All students at publicly funded higher education institutions (HEIs) in UK, by mode and level of study, 2006/07-2010/11
- Rising student loans
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- Figure 10: Total amount of student loans lent to English domiciled students studying in the UK and EU students studying in England, 2006-12
- Young, fashion conscious women
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- Figure 11: Statements on personal appearance, by age group and gender, 2012
- Under-25s spend a lot on clothes
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- Figure 12: Statements on personal appearance, by age group and gender, 2012
- The financial situation of the under-25s
- Clothing the number one priority
- M-commerce the norm among youth
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- Figure 13: Smartphone owners and using smartphones to access internet, by age, July 2012
- Figure 14: Products/services purchased via a smartphone, by age, September 2012
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- Figure 15: Products/services purchased via a smartphone, within the last 12 months, September 2012
- Dwindling number of 15-24-year-olds
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- Figure 16: Projected numbers of 15-24-year-olds in the UK, 2007-12 and 2012-17
- High rate of unemployment
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- Figure 17: Unemployment rate for 16-24-year-olds, 2008-12
- Figure 18: Number of unemployed 16-24s in the UK, November 2011-July 2012
- Young living at home longer
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- Figure 19: UK households, by size, 2007-17
- Appearance most important to those who live with parents
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- Figure 20: Top ten spending priorities, by current living situation, September 2012
Strengths and Weaknesses in the Market
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- Strengths
- Weaknesses
Who’s Innovating?
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- Key points
- Online offering
- New launches
- Multichannel experience
- Designer and celebrity collaborations
- Young bloggers
- Student-style promotions
- Bringing young people on board
Competitive Context
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- Key points
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- Figure 21: Spend on clothing and footwear by 15-24s and total spend on clothing and footwear, 2007-12
Market Size and Forecast
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- Key points
- Youth fashion market reaches £10.6 billion in 2012
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- Figure 22: Estimated expenditure on clothing and footwear by 15-24s, at current and constant prices, 2007-17
- The future
- Growth will slow to 8% over the next five years
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- Figure 23: Best- and worst- case forecast spending on clothing and footwear by 15-24s, at current prices, 2007-17
- Factors used in this forecast
Retail Competitor Analysis
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- Key points
- Value and fashion-forward retailers outperform
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- Figure 24: Turnover of selected players in the youth fashion market, 2009-12, ranked by 2011 revenues
Space Allocation Summary
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- Key points
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- Figure 25: Space allocation estimates, September 2012
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- Figure 26: Space allocation estimates: womenswear specialists, September 2012
- Figure 27: Space allocation estimates: menswear specialists, September 2012
Retail Product Mix
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- Clothing retailers: Estimated sales breakdown
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- Figure 28: Estimated sales breakdown, 2011-12
- Arcadia chains
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- Figure 29: Arcadia chains: estimated sales breakdown, 2011/12
- Sales density
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- Figure 30: Major clothing retailers, sales densities by product, 2011/12
Companies and Products
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- Topshop/Topman
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- Figure 31: Key financials of Arcadia Group Limited, 2011 and 2012
- H&M
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- Figure 32: Key financials for H&M (Hennes & Mauritz), 2011 and 2012
- New Look
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- Figure 33: Key financials for New Look Group Plc, 2011 and 2012
- Primark
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- Figure 34: Key financials for Primark Stores Limited, 2010 and 2011
- River Island
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- Figure 35: Key financials for River Island Clothing Co. Limited, 2010 and 2011
- Republic
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- Figure 36: Key financials for Republic (Retail) Ltd, 2011 and 2012
- Superdry
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- Figure 37: Key financials of SuperGroup Group, 2011 and 2012
- Hollister/Abercrombie & Fitch
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- Figure 38: Key financials for Abercrombie & Fitch (UK), 2010 and 2011
- Figure 39: Key financials for Hollister (UK), 2010-11
- Jack Wills
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- Figure 40: Key financials for Jack Wills, 2010 and 2011
- ASOS
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- Figure 41: Key financials for ASOS, 2011 and 2012
- Ones to Watch
- Paul’s Boutique
- Forever 21
- Motel Rocks
Brand Communication and Promotion
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- Key points
- Topline expenditure climbing
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- Figure 42: Main monitored media advertising expenditure on fashion, 2008-12
- Advertising through the press takes the lion’s share
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- Figure 43: Main monitored media advertising expenditure on fashion, by media type, 2008-12
- New Look and H&M dominate adspend
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- Figure 44: Main monitored media advertising expenditure on fashion advertising, by company, 2008-12
The Consumer – Types of Clothing Bought by 15-24s
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- Key points
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- Figure 45: Trends in purchasing outerwear in the last 12 months among 15-24s, 2008-12
- Outlook on outerwear
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- Figure 46: Purchasing of outerwear in the last 12 months by 15-24s, by gender, working status and region, 2012
- Economic impact
- Jeans and t-shirts dominate purchasing
- Weathering the storm
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- Figure 47: Purchasing of jackets and coats in the last 12 months by under 25s, by gender, age, working status and region, 2012
- Trousers and sportswear also falling from favour
- Still suited to work
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- Figure 48: Purchasing of suits in the last 12 months by under 25s, by gender, age, working status and region, 2012
- More womenswear categories show growth
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- Figure 49: Trends in purchasing menswear and womenswear in the last 12 months among under-25s, 2008-12
- The effect of age on fashion purchasing
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- Figure 50: Difference in purchasing of clothing between under-25s and over-25sin the last 12 month, 2012
The Consumer – Where Do 15-24s Shop for Clothes?
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- Key points
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- Figure 51: Outlets where clothing has been purchased in the last 12 months among 15-24s, 2011 and 2012
- The shifting retail landscape
- Supermarkets grow in popularity
- Retailers by age split
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- Figure 52: Outlets where clothing has been purchased in the last 12 months among 15-24s, by age range, October 2012
- Value retailers
- Young fashion retailers
- 15-17s seek out higher priced retailers
- Department stores
- Buying online
- Most retailers favoured by women
- Young females mix and match retailers
- Men are one-stop shoppers
- River Island, Topshop and H&M lead fashion trends
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- Figure 53: Correspondence Analysis – attitudes towards shopping for clothes by where people shop for clothes, October 2012
- Methodology
The Consumer – 15-24s’ Attitudes Towards Clothes Shopping
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- Key points
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- Figure 54: Attitudes towards buying or shopping for clothes, October 2012
- 18-24s wait for the sales
- Men more willing to pay full price
- Women are shopping less frequently
- 15-17s use other money-saving tactics
- Growing confidence on the high street?
- 15-17s spend parents’ money on clothes
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- Figure 55: Attitudes towards levels of clothes bought year-on-year, by age range, October 2012
- Virtual window shopping
- Vintage fashion
The Consumer – 15-24s’ Further Attitudes Towards Clothes Shopping
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- Key points
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- Figure 56: Further attitudes towards buying clothes among 15-24s, October 2012
- Enjoyment of in-store shopping beats online
- Young buy online to avoid temptation
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- Figure 57: Attitudes towards buying clothes online and in the high street, by demographics, October 2012
- Londoners favour shopping in-store
- Quality becomes more important
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- Figure 58: Further attitudes towards buying clothes, by demographics, October 2012
- 15-17s most fashion-led
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- Figure 59: Further attitudes towards buying clothes, by demographics, October 2012
- 18-24s more preoccupied with fit
Social Media and Fashion
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- Key points
- Facebook and fashion
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- Figure 60: Ways social media is used for fashion, by demographics, April 2012
- Figure 61: Reasons for interacting with fashion brands, by 16-24s, April 2012
The Consumer – Target Groups
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- Key points
- Three typologies of youth fashion buyers identified
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- Figure 62: Consumer typology groups for youth fashion, October 2012
- Passion for Fashion (20%)
- Who are they?
- Marketing message
- Value focused (54%)
- Who are they?
- Marketing message
- Online shoppers (26%)
- Who are they?
- Marketing message
Appendix – Market Drivers
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- Figure 63: Attitudes towards personal appearance among under-25s, by demographics, 2012
- Figure 64: Attitudes towards personal appearance among under-25s, by demographics, 2012
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Appendix – The Consumer – Types of Clothing Bought by 15-24s
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- Figure 65: Purchasing of outwear in the last 12 months, by demographics, 2012
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- Figure 66: Purchasing of outerwear in the last 12 months, by demographics, 2012
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- Figure 67: Purchasing of outerwear in the last 12 months, by demographics, 2012
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- Figure 68: Purchasing of outerwear in the last 12 months, by demographics, 2012
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Appendix – The Consumer – Where Do 15-24s Shop for Clothes?
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- Figure 69: Most popular outlets where clothing has been purchased in the last 12 months, by demographics, October 2012
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- Figure 70: Next most popular outlets where clothing has been purchased in the last 12 months, by demographics, October 2012
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- Figure 71: Other outlets where clothing has been purchased in the last 12 months, by demographics, October 2012
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- Figure 72: Attitudes towards buying or shopping for clothes, by most popular outlets where clothing has been purchased in the last 12 months, October 2012
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- Figure 73: Attitudes towards buying or shopping for clothes, by next most popular outlets where clothing has been purchased in the last 12 months, October 2012
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- Figure 74: Attitudes towards buying or shopping for clothes, by other outlets where clothing has been purchased in the last 12 months, October 2012
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- Figure 75: Further attitudes towards buying clothes, by most popular outlets where clothing has been purchased in the last 12 months, October 2012
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- Figure 76: Further attitudes towards buying clothes, by next most popular outlets where clothing has been purchased in the last 12 months, October 2012
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- Figure 77: Further attitudes towards buying clothes, by other outlets where clothing has been purchased in the last 12 months, October 2012
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Appendix – The Consumer – 15-24s’ Attitudes Towards Clothes Shopping
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- Figure 78: Most popular attitudes towards buying or shopping for clothes, by demographics, October 2012
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- Figure 79: Next most popular attitudes towards buying or shopping for clothes, by demographics, October 2012
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Appendix – The Consumer – 15-24s’ Further Attitudes Towards Clothes Shopping
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- Figure 80: Most popular further attitudes towards buying clothes, by demographics, October 2012
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- Figure 81: Next most popular further attitudes towards buying clothes, by demographics, October 2012
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Appendix – Target Groups
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- Figure 82: Target groups, by demographics, October 2012
- Figure 83: Repertoire of outlets where clothing has been purchased in the last 12 months, by demographics, October 2012
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