British Apparel Industry Suffered Worst Performance In 7 Years

According to data, the UK apparel industry suffered the worst performance in 7 years, the agency said, as of September 25th.

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The accessories market has shrunk 700 million pounds over the same period last year, and the UK market has been declining for four consecutive months since June.

Kantar consumer insight director Glen Tooke said,

The 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 deal with the decline in sales, but this is far from enough. Retailers are pursuing the same "little trend" approach, but they should understand what consumers really want and meet 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, Lord Wolfson, chief executive of Next PLC NXT.L, the most profitable clothing retailer in Britain, 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 survey, sales in the UK market fell by 3.3% in August, the worst in four categories, and 1.5% in the UK's overall high street sales.

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.