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The UKs youth fashionwear market Essay Example

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The UKs youth fashionwear market

And this serves to attract the youth who are more tech-savvy today, as youth can make orders online and access more information about latest fashion trends through the internet. The UK youth fashionwear market is also characterised by different emerging youth fashion collections today. These include mainly high street and designer fashions. There is also a rise in male fashion and design as opposed to past years. Furthermore, the increased celebrity fashion partnerships in the UK youth fashionwear market has led to the production of more celebrity-designed ranges (Bruzzi and Gibson 2013); even as more youth want to replicate the style of their favourite celebrities.The economic recession that affected the UK affected the UK youth wear market in equal measure. However, from 2010 when the UK economy started to stabilise, the economic health of the UK youth fashionwear market also started to improve. The expenditure on clothing and foot wear in the UK rose between 2009 to 2013 and this saw a 25.4% and 18.4% growth respectively. The overall growth in expenditure on fashion in the UK within this period was 24.3% as compared to 19.7% growth for expenditure on consumer goods (Key Note 2014). This implies that the UK population prioritises fashion over other household commodities. In the overall market share of the UK fashion industry in 2013, the youth fashion wear market accounted for approximately 21.1%, an increase from 19.9% in 2009 (Key Note 2014).The main challenges facing the UK youth fashion wear market is that the e-commerce limits the high-street retailers who have failed to adopt technology fully and online platforms. Additionally, there is a threat to the spending of youth on fashion mainly because of the rise in costs of clothing and footwear that is a result of the rising cost of cotton among other factors. The high level of unemployment among the youth in UK also limits the spending power of the youth on fashion (Bainbridge 2013). Nevertheless, the UK youth fashionwear market is presented with several opportunities. First, the growth of male fashion means that in future, fashion will continue to be more male-focused, hence offering diversity for male customers to choose from. Celebrity collaborations will continue to contribute to the success of this market since many youth are influenced by celebrities (Cartner-Morley 2010). E-commerce also creates more opportunities for retailers to reach many youth that are tech-savvy. Therefore,

Works Cited

Bainbridge J 2013, “Sector Insight (interactive): youth fashion,” Marketing Magazine.

Viewed 25 March 2015

< http://www.marketingmagazine.co.uk/article/1172299/sector-insight-interactive-youth-fashion>

Bruzzi S and Gibson P. C 2013, “Fashion Cultures: Theories, Explorations and

Analysis,” Routledge, New York.

Cartner-Morley J 2010, “Teenage Fashion: What’s Cool Now?” the Guardian, Friday 16

July. Viewed 25 March 2015, <http://www.theguardian.com/lifeandstyle/2010/jul/16/teenage-fashion-style>

Jackson, T and Shaw D 2008, “Mastering Fashion Marketing,” Palgrave Macmillan, New

York.

Key Note 2014. Market Report 2014: Youth Fashionwear. PDF.

Next PLC 2015 Viewed 25 March 2015 <http://www.nextplc.co.uk/about-next.aspx>

Next PLC 2014, “Annual Report and Accounts,” Viewed 25 March 2015

<http://www.nextplc.co.uk/~/media/Files/N/Next-PLC/pdfs/reports-and-results/2014/Next%20AR2014%20web.pdf>

Porter, M.E 1980, “Competitive Strategy, Techniques for Analysing Industries and

Competitors,” Free Press, New York.

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preview essay on The UKs youth fashionwear market
  • Pages: 5 (1250 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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