The menswear market will be the strongest performer out of all clothing sectors with estimated growth of 19.9% in the next five years. A big contributor behind this growth is that men are becoming more conscious of trends and their appearance, presenting opportunities for players to gain sales and share through more frequent newness and more trend-led, fast-fashion products. However, the sector is not without its problems, as the weakened pound will force price rises and put added pressure on retailer margins.
Key companies mentioned in the report are Marks and Spencer, Next, Asda, HandM, Primark, Matalan, Tesco, Zara, Sainsbury’s, Tu, George,TK Maxx, Superdry, Supergroup, Topman, Burton, Debenhams, Moss Bros, JD Sports, Sports Direct, John Lewis, Arcadia, ASOS, Boohoo, River Island, and New Look.
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Key Findings
– The athleisure trend continues to boost menswear sales. Men’s growing interest in health and fitness is driving the trend for athleisure clothing, which will fuel the demand for high quality sports products, and sportswear that can be easily worn as casualwear. This provides an opportunity for sports retailers JD Sports, Nike and Sports Direct, as well as non-specialists such as Whistles and departments stores to expand their premium sports offers.
– Menswear is an increasingly competitive market with more retailers entering the market and expanding their ranges. Value players, which previously overlooked menswear in favour for womenswear are particularly keen to invest due to the increased interest by men in trend-led products. New Look rolled out standalone menswear stores in 2016, while Boohoo.com launched a dedicated menswear platform.
– With both premium and value price points outperforming, the midmarket has been squeezed with growth of just 8% between 2011 and 2016. Men’s growing interest in value clothing, triggered by a desire for more affordable fashion, means sales of value price point clothing will be the fastest growing in the five years to 2021. However, men’s focus on quality and longevity will mean that brands and premium price points will also outperform the wider market.
Synopsis
The UK Menswear Market 2016-21 is part of GlobalData’s sector analysis series, which provides deep quantitative and qualitative insight into the menswear market, with forecasts up to 2021. Key trends in the market are analyzed, including the impact of inflation, the growing importance of fashion, intensifying competition and how to reach underserved shoppers. The report provides in-depth analysis of the following: key issues, strategies for success, market size and forecasts, retailer profiles and their market shares, and future outlook. Our comprehensive consumer chapter also provides a detailed insight into what, how and where consumers are buying menswear.
Reasons To Buy
– Use GlobalData’s market size price segmentation forecast to 2021 to uncover which menswear retailers will be the most squeezed, and uncover how retailers can hold onto shoppers and encourage spend.
– Use our retailer positioning map to identify gaps in the market and discover those consumers who are currently underserved. It can also be used to understand how, as a retailer, you can differentiate yourself in an increasingly crowded market.
– Use our average spend per head data by age group to identify which consumers to target and how to drive further spend from them.
– Learn from the best and worst retailers for instore visual merchandising, online propositions and trend incorporation by using our company analysis and retailer profiles, and apply this knowledge to your own business.
– Use our consumer data on what clothing sizes men bought across different product categories to help with more precise and accurate investment when sourcing and buying menswear.
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