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Clothing Retailing - UK - October 2017

“The way consumers shop for fashion is changing and their expectations are continuing to rise. In a tougher clothing market, it has become even more important for retailers to focus on standing out from the competition through a combination of better product, frequently changing collections, interesting stores, a seamless online experience and excellent customer service.”
– Tamara Sender Ceron, Senior Fashion Analyst

This report answers the following questions:

  • How has the clothing sector performed in 2017 and who is driving sales?
  • Who are the winners and losers in clothing?
  • What are the opportunities for driving sales?

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Table of contents

  1. Overview

    • What you need to know
      • Products covered in this report
      • Executive Summary

          • The market
            • Clothes sales to grow 3.1% in 2017
              • Figure 1: Best- and worst-case forecast for consumer spending on clothing and accessories (incl VAT), 2012-22
            • Clothing specialist sales grow only 2.4%
              • Figure 2: Clothing specialists’ estimated share of spending on clothing, 2012-17
            • Companies and brands
              • Innovative brands continue to outperform
                • Figure 3: Leading specialist retailers: compound annual growth in revenues, 2012-16
              • Online clothing market to reach £13.9 billion
                • Figure 4: estimated market shares of online sales of clothing and footwear, 2015-16
              • Boohoo has highest level of recommendation
                • Figure 5: Attitudes towards and usage of selected brands, February, May and August 2017
              • The consumer
                • Supermarkets become fashion destination
                  • Figure 6: Retailers from where clothes are bought both in-store and online, July 2017
                • Most buy every few months or less
                  • Figure 7: How often consumers have bought clothes in the last 12 months, July 2017
                • Most interest in food and drink areas
                  • Figure 8: Interest in additional services at retailers’ stores, July 2017
                • Young women want newness
                  • Figure 9: Attitudes to shopping for clothes, July 2017
                • Over-45s like try-before-you-buy option
                  • Figure 10: Interest in in-store or online innovations, July 2017
                • What we think
                • Issues and Insights

                  • How has the clothing sector performed in 2017 and who is driving sales?
                    • The facts
                      • The implications
                        • Who are the winners and losers in clothing?
                          • The facts
                            • The implications
                              • What are the opportunities for driving sales?
                                • The facts
                                  • The implications
                                  • The Market – What You Need to Know

                                    • Rising inflation hits clothing
                                      • Consumer confidence dips
                                        • Clothes sales to grow 3.1% in 2017
                                          • Clothing market will reach £69 billion by 2022
                                            • Childrenswear drives growth
                                              • Clothing specialist sales grow only 2.4%
                                              • Market Drivers

                                                • Rising inflation hits clothing
                                                  • Figure 11: Consumer prices inflation for garments, Jul 2016-Jul 2017
                                                  • Figure 12: Consumer prices inflation for garments, 2006-16
                                                • Footwear sees higher levels of discounting
                                                  • Figure 13: Consumer prices inflation for accessories and footwear, Jul 2016-Jul 2017
                                                • Inflation versus spending growth
                                                  • Figure 14: Annual percentage change in spending on clothing (including accessories) versus annual percentage change in consumer prices inflation in clothing, 2013-16
                                                • Consumer confidence drops
                                                  • Figure 15: Trends in consumer sentiment for the coming year, Jan 2016-Aug 2017
                                                • Obesity soars among young men
                                                  • Figure 16: Proportion of overweight and obese population, by gender, 2010-15
                                                • Ageing population impacts sector
                                                • Market Size and Forecast

                                                  • Clothes sales to grow 3.1% in 2017
                                                    • Figure 17: Best- and worst-case forecast for consumer spending on clothing and accessories (incl VAT), 2012-22
                                                  • The future
                                                    • Figure 18: Consumer spending on clothing and accessories (incl VAT) at current prices, 2012-22
                                                  • Consumers continue to spend on clothes
                                                    • Figure 19: Spending on clothing and accessories as percentage of all consumer spending, 2012-17
                                                  • Childrenswear drives growth
                                                    • Figure 20: Estimated distribution of spending on clothing, by sub-category, 2017 (est)
                                                  • Forecast methodology
                                                  • Sector Size and Forecast

                                                    • Clothing specialist sales grow only 2.4%
                                                      • Figure 21: Best- and worst-case forecast of clothing specialists’ sector sales (incl. VAT), 2012-22
                                                      • Figure 22: Clothing specialist sales (incl VAT), 2012-22
                                                    • Specialists’ sales of clothing
                                                      • Figure 23: Estimated sales of clothing by clothing specialist retailers (incl VAT), 2012-17
                                                    • Specialist sales of clothing spend declines
                                                      • Figure 24: Clothing specialists’ estimated share of spending on clothing, 2012-17
                                                  • Key Players – What You Need to Know

                                                    • Next still in the lead despite declines
                                                      • Innovative brands continue to outperform
                                                        • Half of the top players are non-specialists
                                                          • Online clothing market to reach £13.9 billion
                                                            • Clothing retailers turn to visual search apps
                                                              • Boohoo has highest level of recommendation
                                                              • Leading Specialist Retailers

                                                                • Next still in the lead despite declines
                                                                  • Figure 25: Leading specialist retailers, net revenues. 2012-16
                                                                • Innovative brands continue to outperform
                                                                  • Figure 26: Leading specialist retailers: compound annual growth in revenues, 2012-16
                                                                • Outlet numbers and sales per outlet
                                                                  • Figure 27: Leading specialist retailers: outlet numbers, 2012-16
                                                                • Sales per outlet
                                                                  • Figure 28: Leading specialist retailers: annual sales per outlet, 2012-16
                                                                • Sales area and sales densities
                                                                  • Figure 29: Leading specialist retailers: total sales area, 2012-16
                                                                  • Figure 30: Leading specialist retailers: annual sales per sq m, 2012-16
                                                                • Operating profits and margins
                                                                  • Figure 31: Leading specialist retailers: operating profits, 2012-16
                                                                  • Figure 32: Leading specialist retailers: operating margins, 2012-16
                                                              • Market Shares

                                                                • Half of the top players are non-specialists
                                                                    • Figure 33: Leading retailers’ share of spending on clothing and footwear, 2014-16
                                                                  • Department stores lose share
                                                                    • M&S clothing share continues to drop
                                                                      • Figure 34: M&S’s share of spending on clothing and footwear, 2009-16
                                                                  • Leading Non-Specialist Retailers

                                                                    • Online-only retailers see strongest growth
                                                                      • JD Sports outperforms Sports Direct
                                                                        • Figure 35: Leading non-specialist retailers: net clothing and footwear revenues, 2014-16
                                                                    • Channels of Distribution

                                                                      • Pureplays gain share
                                                                        • Figure 36: Estimated distribution of consumer spending on clothing by type of retailer, 2016 and 2017
                                                                      • Grocers grow focus on clothing
                                                                        • Figure 37: Estimated distribution of consumer spending on clothing by type of retailer, 2015- 2017
                                                                      • Specialists lose share further
                                                                        • Figure 38: Clothing specialists’ estimated share of spending on clothing, 2012-17
                                                                    • Space Allocation Summary

                                                                        • Men’s, women’s and children’s wear overview
                                                                          • Figure 39: Men’s, women’s and children’s wear overview, October 2017
                                                                        • Detailed category space allocation
                                                                          • Figure 40: Specialist and non-specialist clothing retailers, estimated detailed space allocation by category, October 2017
                                                                          • Figure 41: Specialist and non-specialist clothing retailers, estimated detailed space allocation by category, October 2017
                                                                          • Figure 42: Specialist and non-specialist clothing retailers, estimated detailed space allocation by category, October 2017
                                                                        • Clothing versus non-clothing space
                                                                          • Figure 43: Specialist and non-specialist clothing retailers, estimated clothing versus non-clothing space, October 2017
                                                                      • Retail Product Mix

                                                                          • Figure 44: Leading clothing retailers, estimated sales by product, 2016
                                                                          • Figure 45: Leading clothing retailers: share of clothing sales by product, 2016
                                                                          • Figure 46: Leading clothing retailers, estimated sales density by product, 2016
                                                                        • Womenswear
                                                                          • Figure 47: Leading clothing retailers, Estimated share of womenswear market, 2016
                                                                        • Menswear
                                                                          • Figure 48: Leading clothing retailers, Estimated share of menswear market, 2016
                                                                        • Childrenswear
                                                                          • Figure 49: Leading clothing retailers, Estimated share of Childrenswear market, 2016
                                                                      • Online

                                                                        • Online clothing and accessories market to reach £13.9 billion
                                                                          • Figure 50: Estimated online sales of clothing and footwear (incl VAT), 2014-17
                                                                        • Online market shares
                                                                          • Figure 51: estimated market shares of online sales of clothing and footwear, 2015-16
                                                                        • Where do people shop online for clothes?
                                                                          • Figure 52: Types of retailers where clothes were bought online in the last 12 months, July 2017
                                                                          • Figure 53: Retailers where clothes were bought online in the last 12 months, July 2017
                                                                      • Launch Activity and Innovation

                                                                        • Clothing retailers turn to visual search apps
                                                                          • Figure 54: ASOS visual search option, 2017
                                                                        • Gender neutral clothing
                                                                          • John Lewis childrenswear goes genderless
                                                                            • Figure 55: John Lewis gender neutral range, 2017
                                                                          • Unisex adult clothing
                                                                            • Figure 56: LaneFortyFive unisex clothing, 2017
                                                                          • Modest fashion
                                                                            • Figure 57: Nike Pro Hijab, 2017
                                                                          • Personalisation
                                                                            • 3D knitwear
                                                                              • Figure 58: Adidas 3D knitwear printing, 2017
                                                                            • Omnichannel approach
                                                                              • Missguided open first physical store
                                                                                • Figure 59: Missguided stores digital displays, 2017
                                                                              • Farfetch store of the future
                                                                                • Figure 60: Phone app for Farfetch ‘store of the future’, 2017
                                                                              • Next to open in-store restaurant
                                                                                • Sustainability
                                                                                  • Figure 61: Oasis x ZSL collection, 2017
                                                                                • Try before you buy
                                                                                  • Figure 62: The Chapar personal styling service offering try before you buy, 2017
                                                                                • Amazon Prime Wardrobe
                                                                                  • Net-a-Porter – You Try, We Wait
                                                                                  • Advertising and Marketing Activity

                                                                                      • Increased advertising spend by major sports retailers
                                                                                        • Figure 63: Total above-the-line, online display, and direct mail advertising expenditure on clothing and accessories, top 30 spenders, 2013-17
                                                                                      • M&S Spend It Well
                                                                                        • H&M: She’s a lady
                                                                                          • Figure 64: Video still from H&M’s she’s a lady campaign, 2016
                                                                                        • ‘Why would anyone shop at TK Maxx?’
                                                                                          • Figure 65: TK Maxx Ridiculous Possibilities campaign, 2017
                                                                                        • Press remains top medium for advertising spend
                                                                                          • Figure 66: Total above-the-line, online display and direct mail advertising expenditure on clothing, by media type, 2016
                                                                                        • Nielsen Ad Intel coverage
                                                                                        • Brand Research

                                                                                            • What you need to know
                                                                                              • Brand map
                                                                                                • Figure 67: Attitudes towards and usage of selected brands, February, May and August 2017
                                                                                              • Key brand metrics
                                                                                                • Figure 68: Key metrics for selected brands, February, May and August 2017
                                                                                              • Brand attitudes: Supermarkets offer good value
                                                                                                • Figure 69: Attitudes, by brand, February, May and August 2017
                                                                                              • Brand personality: M&S tired and boring, while Boohoo is fun and vibrant
                                                                                                • Figure 70: Brand personality – Macro image, February, May and August 2017
                                                                                              • Young fashion brands seen as trendsetting and stylish
                                                                                                • Figure 71: Brand personality – Micro image, February, May and August 2017
                                                                                              • Brand analysis
                                                                                                • Mid-market retailers: M&S, Next, and Mango
                                                                                                  • Lifestyle retailers: Joules, Fat Face, and Cos
                                                                                                    • Supermarket retailers: F&F, Tu, George, and Nutmeg
                                                                                                      • Young fashion retailers: Topshop/Topman, H&M, New Look, Boohoo, and River Island
                                                                                                      • What Fashion Items People Buy

                                                                                                        • Young men keen clothes shoppers
                                                                                                          • Figure 72: Spending habits on clothes, footwear and accessories, June 2017
                                                                                                        • Jeans on trend
                                                                                                          • Figure 73: Types of outerwear purchased in the last three months, June 2017
                                                                                                      • Retail Customer Profile Comparison

                                                                                                        • Amazon grows female focus
                                                                                                          • Figure 74: Customer profile, by gender, July 2017
                                                                                                        • Rise in 25-34s shopping for clothes
                                                                                                          • Figure 75: Customer profile, by age, July 2017
                                                                                                          • Figure 76: Customer profile, by socio-economic group, July 2017
                                                                                                      • Where People Shop for Clothes

                                                                                                        • Supermarkets become fashion destination
                                                                                                            • Figure 77: Retailers from where clothes are bought both in-store and online, July 2017
                                                                                                          • Primark, M&S and Next all see declines
                                                                                                            • Sports shops lose out to non-specialists
                                                                                                              • Young women opt to shop at pureplays
                                                                                                                • Figure 78: Retailers from where clothes are bought split by in-store and online, July 2017
                                                                                                              • Who is driving growth?
                                                                                                                • Figure 79: People who have bought clothes for themselves in-store and/or online or have not bought clothes in the last 12 months, by gender and age, July 2017
                                                                                                              • Repertoire analysis
                                                                                                                • Figure 80: Repertoire of retailers from which clothes are bought in-store or online, July 2017
                                                                                                            • Frequency of Buying Clothes

                                                                                                              • Most buy every few months or less
                                                                                                                • Figure 81: How often consumers have bought clothes in the last 12 months, July 2017
                                                                                                              • Young men buy clothes less often
                                                                                                                • Figure 82: Consumers who have bought clothes once a month or more, by gender and age, July 2017
                                                                                                              • Affluent buy clothes less often
                                                                                                                • Figure 83: How often consumers have bought clothes in the last 12 months, by financial situation, July 2017
                                                                                                            • Interest in Additional Store Services

                                                                                                              • Most interest in food and drink areas
                                                                                                                  • Figure 84: Interest in additional services at retailers’ stores, July 2017
                                                                                                                • High demand from under-35s for beauty services
                                                                                                                  • Figure 85: Interest in additional services at retailers’ stores, by gender and age, July 2017
                                                                                                                • Attracting older women with VIP events
                                                                                                                • Attitudes to Shopping for Clothes

                                                                                                                  • Young women want newness
                                                                                                                      • Figure 86: Attitudes to shopping for clothes, July 2017
                                                                                                                    • 70% of 16-24s want more eco fashion
                                                                                                                      • Women demand more diverse models
                                                                                                                          • Figure 87: Clothing retailing – CHAID – Tree output, August 2017
                                                                                                                        • Methodology
                                                                                                                        • Interest in Innovations

                                                                                                                          • Over-45s like try before you buy option
                                                                                                                              • Figure 88: Interest in in-store or online innovations, July 2017
                                                                                                                            • Millennials keen on using visual search
                                                                                                                              • Men drawn to subscription boxes
                                                                                                                              • Arcadia Group

                                                                                                                                  • What we think
                                                                                                                                    • Topshop loses its appeal
                                                                                                                                      • Dorothy Perkins falls behind other retailers
                                                                                                                                        • Dealing with loss-making brands
                                                                                                                                          • Company background
                                                                                                                                            • Company performance
                                                                                                                                              • Figure 89: Arcadia Group: Group financial performance, 2011/12-2016/17
                                                                                                                                              • Figure 90: Arcadia Group: Outlet data, 2012/13-2016/17
                                                                                                                                            • Retail offering
                                                                                                                                            • ASOS

                                                                                                                                                • What we think
                                                                                                                                                  • Tapping into consumer demand for newness
                                                                                                                                                    • Exclusivity differentiates the brand and gives consumers more reason to visit
                                                                                                                                                      • M-commerce fuelling sales growth
                                                                                                                                                        • Bolstering ethical and environmental credentials
                                                                                                                                                          • Significantly enhancing its US proposition
                                                                                                                                                            • Company background
                                                                                                                                                              • Company performance
                                                                                                                                                                • Figure 91: ASOS: Group financial performance, 2011/12-2015/16
                                                                                                                                                              • Retail offering
                                                                                                                                                              • Asda Group

                                                                                                                                                                  • What we think
                                                                                                                                                                    • A major player in clothing retailing
                                                                                                                                                                      • Looking to become leaner
                                                                                                                                                                        • Toyou service continues to drive footfall into stores
                                                                                                                                                                          • Rumoured B&M deal would give Asda another outlet for clothing
                                                                                                                                                                            • Where now?
                                                                                                                                                                              • Company background
                                                                                                                                                                                • Company performance
                                                                                                                                                                                  • Figure 92: Asda Group Ltd: Group financial performance, 2012-16
                                                                                                                                                                                  • Figure 93: Asda Group Ltd: Outlet data, 2012-16
                                                                                                                                                                                • Retail offering
                                                                                                                                                                                • Debenhams

                                                                                                                                                                                    • What we think
                                                                                                                                                                                      • New strategy to lure shoppers back to its stores
                                                                                                                                                                                        • Veteran designers could face the axe in own-fashion range shake-up
                                                                                                                                                                                          • Extended lingerie offering
                                                                                                                                                                                            • ‘Mobile first’ strategy driving e-commerce sales
                                                                                                                                                                                              • Innovative click-and-collect experience planned to encourage incremental business
                                                                                                                                                                                                • Broadening its customer reach through third-party online partners
                                                                                                                                                                                                  • Company background
                                                                                                                                                                                                    • Company performance
                                                                                                                                                                                                      • Figure 94: Debenhams: Group financial performance, 2011/12-2015/16
                                                                                                                                                                                                      • Figure 95: Debenhams: Outlet data, 2011/12-2015/16
                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                    • Edinburgh Woollen Mill

                                                                                                                                                                                                        • What we think
                                                                                                                                                                                                          • Another wave of acquisitions
                                                                                                                                                                                                            • On the lookout for more
                                                                                                                                                                                                              • Bringing a new department store to the market
                                                                                                                                                                                                                • Company background
                                                                                                                                                                                                                  • Company performance
                                                                                                                                                                                                                      • Figure 96: The Edinburgh Woollen Mill Group: Group financial performance, 2011/12-2015/16
                                                                                                                                                                                                                      • Figure 97: The Edinburgh Woollen Mill Group: Outlet data, 2011/12-2015/16
                                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                                    • Grupo Inditex

                                                                                                                                                                                                                        • What we think
                                                                                                                                                                                                                          • Inditex retains strong position but must continue to innovate
                                                                                                                                                                                                                            • Brand extensions
                                                                                                                                                                                                                              • Figure 98: Stradivarius menswear collection, 2017
                                                                                                                                                                                                                              • Figure 99: Pull&Bear beauty range, 2017
                                                                                                                                                                                                                            • Digital innovations
                                                                                                                                                                                                                              • Company background
                                                                                                                                                                                                                                • Company performance
                                                                                                                                                                                                                                  • Figure 100: Grupo Inditex: Group financial performance, 2012/13-2016/17
                                                                                                                                                                                                                                  • Figure 101: Grupo Inditex: % share of sales, by retail brand, 2015/16-2016/17
                                                                                                                                                                                                                                  • Figure 102: Grupo Inditex: Sales and operating profit, by major retail brand, 2012/13-2016/17
                                                                                                                                                                                                                                  • Figure 103: Grupo Inditex: Outlet data, by region, at January 2017
                                                                                                                                                                                                                                  • Figure 104: Grupo Inditex: Store numbers, by retail brand, at January 2016 and January 2017
                                                                                                                                                                                                                                  • Figure 105: Grupo Inditex: Outlet data, 2012/13-2016/17
                                                                                                                                                                                                                                • Retail offering
                                                                                                                                                                                                                                • H&M Hennes & Mauritz

                                                                                                                                                                                                                                    • What we think
                                                                                                                                                                                                                                      • Looking beyond fast fashion
                                                                                                                                                                                                                                        • A more seamless shopping experience
                                                                                                                                                                                                                                          • New designer collection aims to appeal to fashion conscious male shoppers
                                                                                                                                                                                                                                            • New loyalty scheme with exclusive offers and brand experiences
                                                                                                                                                                                                                                              • Focusing on offering sustainable finishing processes and eco-friendly materials
                                                                                                                                                                                                                                                • Company background
                                                                                                                                                                                                                                                  • Company performance
                                                                                                                                                                                                                                                    • Figure 106: H&M Hennes & Mauritz: Group financial performance, 2011/12-2015/16
                                                                                                                                                                                                                                                    • Figure 107: H&M Hennes & Mauritz: Outlet data, 2011/12-2015/16
                                                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                                                  • House of Fraser

                                                                                                                                                                                                                                                      • What we think
                                                                                                                                                                                                                                                        • Refreshing flagging womenswear offering
                                                                                                                                                                                                                                                          • New fashion concept
                                                                                                                                                                                                                                                            • Lifestyle-led in-store experiences to drive footfall and extend dwell time
                                                                                                                                                                                                                                                              • £25 million upgrade of e-commerce platform to double online sales
                                                                                                                                                                                                                                                                • Company background
                                                                                                                                                                                                                                                                  • Company performance
                                                                                                                                                                                                                                                                      • Figure 108: House of Fraser Plc: Group financial performance, 2012/13-2016/17
                                                                                                                                                                                                                                                                      • Figure 109: House of Fraser Plc: UK & Ireland outlet data, 2012/13-2016/17
                                                                                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                                                                                    • John Lewis

                                                                                                                                                                                                                                                                        • What we think
                                                                                                                                                                                                                                                                          • A focus on exclusivity
                                                                                                                                                                                                                                                                            • Investment in experience-driven stores
                                                                                                                                                                                                                                                                              • Improved information to streamline the shopping experience
                                                                                                                                                                                                                                                                                • Company background
                                                                                                                                                                                                                                                                                  • Company performance
                                                                                                                                                                                                                                                                                    • Figure 110: John Lewis Plc (department store): Group financial performance, 2012/13-2016/17
                                                                                                                                                                                                                                                                                    • Figure 111: John Lewis Plc (department store): Outlet data, 2012/13-2016/17
                                                                                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                                                                                  • Marks & Spencer

                                                                                                                                                                                                                                                                                      • What we think
                                                                                                                                                                                                                                                                                        • Repositioning clothing
                                                                                                                                                                                                                                                                                          • Reshaping its stores
                                                                                                                                                                                                                                                                                            • Online
                                                                                                                                                                                                                                                                                              • Company background
                                                                                                                                                                                                                                                                                                • Company performance
                                                                                                                                                                                                                                                                                                    • Figure 112: Marks & Spencer: Group financial performance, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                    • Figure 113: Marks & Spencer: Outlet data, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                                                                                                  • Matalan

                                                                                                                                                                                                                                                                                                      • What we think
                                                                                                                                                                                                                                                                                                        • Investment in product quality driving full-price sales
                                                                                                                                                                                                                                                                                                          • Extensive store refurbishment programme
                                                                                                                                                                                                                                                                                                            • Exploring international sales growth opportunities
                                                                                                                                                                                                                                                                                                              • Bespoke fashion and style show enhances online presence
                                                                                                                                                                                                                                                                                                                • Influencer-generated content boosts fashion credentials
                                                                                                                                                                                                                                                                                                                  • Parcel pick-up service is an opportunity to drive store footfall
                                                                                                                                                                                                                                                                                                                    • Company background
                                                                                                                                                                                                                                                                                                                      • Company performance
                                                                                                                                                                                                                                                                                                                        • Figure 114: Matalan Ltd: Group financial performance, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                                        • Figure 115: Matalan Ltd: Outlet data, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                      • New Look

                                                                                                                                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                                                                                                                                            • Focused on delivering trends to market faster
                                                                                                                                                                                                                                                                                                                              • Fewer discounts and promotions
                                                                                                                                                                                                                                                                                                                                • Multichannel sales potential compromised by slumping website traffic and sales
                                                                                                                                                                                                                                                                                                                                  • Expanded menswear proposition
                                                                                                                                                                                                                                                                                                                                    • Tailored ranges and domestic sourcing helps boost business in China
                                                                                                                                                                                                                                                                                                                                      • Recruiting social media influencers to drive brand awareness and identify trends quicker
                                                                                                                                                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                                                                                                                                                            • Figure 116: New Look Group Plc: Group financial performance, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                                                            • Figure 117: New Look Group Plc: Outlet data, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                          • Next Group

                                                                                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                                                                                • Pushing too hard for flexibility?
                                                                                                                                                                                                                                                                                                                                                  • A bold strategy…
                                                                                                                                                                                                                                                                                                                                                    • …which could leave it exposed
                                                                                                                                                                                                                                                                                                                                                      • Giving customers more reason to visit stores
                                                                                                                                                                                                                                                                                                                                                        • Devaluation impact on prices is diminishing
                                                                                                                                                                                                                                                                                                                                                          • Where now?
                                                                                                                                                                                                                                                                                                                                                            • Company background
                                                                                                                                                                                                                                                                                                                                                              • Company performance
                                                                                                                                                                                                                                                                                                                                                                  • Figure 118: Next Group: Group financial performance, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                                                                                  • Figure 119: Next Group: Outlet data, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                                                                                • Retail offering
                                                                                                                                                                                                                                                                                                                                                                • Primark

                                                                                                                                                                                                                                                                                                                                                                    • What we think
                                                                                                                                                                                                                                                                                                                                                                      • Getting the product right
                                                                                                                                                                                                                                                                                                                                                                        • Competition intensifying from rivals
                                                                                                                                                                                                                                                                                                                                                                          • Brexit impact mitigated but price rises a possibility
                                                                                                                                                                                                                                                                                                                                                                            • Should Primark have a transactional website?
                                                                                                                                                                                                                                                                                                                                                                              • Where next?
                                                                                                                                                                                                                                                                                                                                                                                • Company background
                                                                                                                                                                                                                                                                                                                                                                                  • Company performance
                                                                                                                                                                                                                                                                                                                                                                                    • Figure 120: Primark/Penneys: Group financial performance, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                                                                                                    • Figure 121: Primark/Penneys: Outlet data, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                  • River Island

                                                                                                                                                                                                                                                                                                                                                                                      • What we think
                                                                                                                                                                                                                                                                                                                                                                                        • Avoiding seasonal fashion marketing
                                                                                                                                                                                                                                                                                                                                                                                          • Integrating influencer-generated content
                                                                                                                                                                                                                                                                                                                                                                                            • Seamless cross-channel shopping experience
                                                                                                                                                                                                                                                                                                                                                                                              • Customer-facing digital enhancements streamline the in-store shopping experience
                                                                                                                                                                                                                                                                                                                                                                                                • Improved stock availability boosting store sales
                                                                                                                                                                                                                                                                                                                                                                                                  • Pushing for a bigger slice of the children’s clothing market
                                                                                                                                                                                                                                                                                                                                                                                                    • Cutting-edge canine fashion
                                                                                                                                                                                                                                                                                                                                                                                                      • Preparing to launch its own homewares
                                                                                                                                                                                                                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 122: River Island Clothing Co Ltd: Group financial performance, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 123: River Island Clothing Co Ltd: Outlet data, 2012-16
                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                          • Tesco

                                                                                                                                                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                • Leading the pack with online innovations
                                                                                                                                                                                                                                                                                                                                                                                                                  • Making stores work harder
                                                                                                                                                                                                                                                                                                                                                                                                                    • Where next?
                                                                                                                                                                                                                                                                                                                                                                                                                      • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                        • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 124: Tesco Plc: Group financial performance, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 125: Tesco Plc: Outlet data, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                                                                                                                                        • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                        • TK Maxx UK

                                                                                                                                                                                                                                                                                                                                                                                                                            • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                              • Attracting a broad demographic
                                                                                                                                                                                                                                                                                                                                                                                                                                • Launching Treasure
                                                                                                                                                                                                                                                                                                                                                                                                                                  • Online offers an opportunity to accelerate growth
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 126: TK Maxx UK: Group sales performance, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 127: TK Maxx UK: Outlet data, 2012/13-2016/17
                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                      • Appendix – Data Sources, Abbreviations and Supporting Information

                                                                                                                                                                                                                                                                                                                                                                                                                                          • Definitions
                                                                                                                                                                                                                                                                                                                                                                                                                                            • VAT
                                                                                                                                                                                                                                                                                                                                                                                                                                              • Sales per store, sales per sq m
                                                                                                                                                                                                                                                                                                                                                                                                                                                • Other
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Abbreviations
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Consumer research methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Appendix – Market Size and Forecast

                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Forecast methodology

                                                                                                                                                                                                                                                                                                                                                                                                                                                      Clothing Retailing - UK - October 2017

                                                                                                                                                                                                                                                                                                                                                                                                                                                      £1,995.00 (Excl.Tax)