How does the cult of the celebrity affect Women's Fashion Lifestyles?
The women's outerwear market is estimated to be worth £20.7bn in 2009, a 2% decline on 2008, as incomes are being squeezed and many consumers have started to cut back. However, a small recovery in the women's outerwear market is expected in 2010 (growth of 1% to reach £21bn), but it will not be until 2011 that women's spending growth will return to 2007 levels.
Mintel's reseacrh shows that over 8 million women say they don't need any excuse to buy clothes. This indicates they are willing to buy at any time, including on impulse. While they are most likely to be well off, it is interesting that they are not the youngest age groups, but more likely 45-64s.
The women's outerwear market is estimated to be worth £20.7bn in 2009, a 2% decline on 2008, as incomes are being squeezed and many consumers have started to cut back. However, a small recovery in the women's outerwear market is expected in 2010 (growth of 1% to reach £21bn), but it will not be until 2011 that women's spending growth will return to 2007 levels.
Mintel's reseacrh shows that over 8 million women say they don't need any excuse to buy clothes. This indicates they are willing to buy at any time, including on impulse. While they are most likely to be well off, it is interesting that they are not the youngest age groups, but more likely 45-64s.
A special occasion inspires more than half of women to shop for new clothes. Some sixty percent of the 35-44 year-olds are most likely to state this, with over half of the 16-24 year-olds and those aged over 65 least likely to say this. Younger women are most likely to enjoy shopping overall as part of their sociable lives, so shopping for a special occasion is more of a specific motivation for older women, who may have fewer special/social occasions than the 35-44 year-olds.
Mintel's consumer data also found that 7.2 million women say that they enjoy shopping on their own, instead of with their family or friends. The largest proportion of these are the more affluent 35-54 year-olds, with families. Shopping alone can be a precious 'me time'. Most 16-24 year-olds shop with friends/family and see shopping as part of their social lives.
Just under 7 million women love browsing around stores before buying, and this is fairly evenly spread across all the age groups. This means that 'window shopping' is alive amd well despite the growth of the internet.
The growth within women's outerwear will be driven by increasing numbers of affluent women, greater choice (more retailers offering a better and broader selection), the larger size and older age opportunity being more actively exploited and women wanting to look good whatever age they are - especially in an ongoing tough job market - with more of them interested in buying better quality.
There is more choice than ever before in the UK’s clothing mass-market. But it has been dominated by price for much of the last ten years, as cheaper sourcing from the Far East has facilitated the growth of value retailers.
This has increased competition and squeezed the middle-market players. And with youth unemployment rising fast, competition looks set to continue revolving around price for the
...
This will exert further downward pressure on retailers’ margins and inhibit their ability to invest in new initiatives and stores. Not only that but it will make it hard for retailers
...
The women's outerwear market is estimated to be worth £20.7bn in 2009, a 2% decline on 2008, as incomes are being squeezed and many consumers have started to cut back. However, a small recovery in the women's outerwear market is expected in 2010 (growth of 1% to reach £21bn), but it will not be until 2011 that women's spending growth will return to 2007 levels.
