"As women with healthy finances become more price sensitive, they are trading down, making it a good time for mid market brands to invest in quality and brand elevation."
Tamara Sender Ceron, Associate Director, Fashion Retail
The womenswear market is experiencing weaker growth as ongoing cost pressures and global macroeconomic uncertainty are driving value-conscious behaviours.
Women have been significantly worse hit by the cost of living crisis than men, with 32% describing their finances as worse-off compared with the last year. Price has become more of a priority for women and buying from lower priced retailers has risen in importance, with Shein redefining perceptions of value.
Fashion is in a perfect position to tap into the growing wellness market. As consumers stitch together solutions across nutrition, fitness, beauty, mental health, sleep, and healthcare, this crosses over into how their clothing impacts their wellbeing. Pioneering advancements in textile innovation are enabling new possibilities for integrating skincare properties within everyday fabrics.
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