Since Mintel last reviewed Menswear Retailing in August 2002, the sector has become increasingly competitive, but sales of menswear have failed to grow significantly in value terms due to continuing deflation in the market. During 2003, growth on the UK high street slowed considerably from the highs of 2001 and 2002, affected by the war in Iraq, higher taxation, a slowdown in the growth in house prices, and more recently an increase in interest rates. This will have a knock-on effect on sales of menswear.

Since Mintel last reviewed Menswear Retailing in August 2002, the sector has become increasingly competitive, but sales of menswear have failed to grow significantly in value terms due to continuing deflation in the market. During 2003, growth on the UK high street slowed considerably from the highs of 2001 and 2002, affected by the war in Iraq, higher taxation, a slowdown in the growth in house prices, and more recently an increase in interest rates. This will have a knock-on effect on sales of menswear.

One of the main problems for menswear retailers is that, although purchasing of menswear is almost universal, not enough men shop frequently for clothes and when they do shop most of their purchases are ‘needs’ rather than ‘wants’ driven, meaning they are more likely to purchase on price. The fact that household incomes are coming under greater pressure in 2003 is bad news for the menswear sector as spending on menswear is traditionally the first segment of the clothing market to suffer from any downturn. Men’s incomes also tend to be diverted more towards spending on the home, leisure and technology. Therefore, retailers face a massive challenge in enticing men to increase their spending on clothing.

When men do go shopping for clothing they are faced with an increasing choice of retailers and a much stronger and more value-orientated product offer. In recent years, the main gains in market share have been made by the value clothing sector, including major grocery multiples Asda and Tesco, but other established retailers such as M&S have also fought back, introducing new product ranges and refurbishing stores.

This report analyses retail sales, factors affecting sales of menswear, key market trends and future prospects, as well as including detailed profiles on all the leading menswear retailers. The report also includes exclusive consumer research on shopping for menswear and the results of interviews among leading trade representatives. Findings include:

Growth in retail sales slowing

Men’s outerwear sales under perform growth in retail sales

Favourable market factors

Supermarkets the major winners in men’s formal wear

Mid-market retailers reaching saturation in men’s casual wear

Majority of men still reluctant clothes shoppers

Men want plenty of choice of quality products and quick service

More sub-brands strengthen product offer at M&S

Larger stores driving growth at Next, while Arcadia increases profitability

Value retailers moving fast on fashion and hard to beat on price

Department stores improve menswear ranges

A return to formalwear the dominant fashion trend

Men opt for convenient locations and an ‘engaging’ store environment