The UK Apparel Industry Suffered The Worst Performance In 7 Years, Declining For Four Consecutive Months.

It is understood that the British fashion market sales decline, even the most profitable clothing retailer Next PLC (NXT.L) also slowed down, Next PLC is one of the best performance brand in the past three years in the British market.

According to data released by Industry Research Institute Kantar Worldpanel on Monday,

The worst performance in 7 years, the agency said, as of September 25th, the British clothing, footwear and accessories market shrank by 700 million pounds over the same period last year, and the UK market has declined for four consecutive months since June.

Kantar consumer insight director Glen Tooke said that the fashion industry is seriously saturated and deeply discounted, and consumers are no longer willing to pay for full price products.

He said that retailers have been reducing investment to cope with the decline in sales, but that is far from enough.

It is wrong to do so, but to understand what consumers really want and satisfy their needs.

Glen Tooke said sales decline in recent months was mainly due to a decline in consumer buying frequency.

In addition to the above reasons, consumers are turning to experiential consumption, and reducing the proportion of fashion products consumption is another important factor.

Previously, Britain was the most profitable.

Next PLC NXT.L (NXT.L) chief executive Lord Wolfson said the slowdown in group sales was partly due to this.

Next PLC is one of the best performing brands in the UK in the past three years.

According to the latest High Street Sales Tracker (HSST) 8 data released by BDO, an industry research firm, sales in the UK market fell by 3.3% in August, the worst in four categories and dragging down 1.5% in the UK's overall high street market.

Especially in the last week of August, the British high street fashion market plummeted by 9.56%, BDO said that the data was caused by abnormal warm weather.