2022 British clothing fashion e-commerce market

The following is the 2022 British clothing fashion e-commerce market recommended by recordtrend.com. And this article belongs to the classification: Electronic Commerce.

The online fashion market in the UK has maintained a steady growth in the past 10 years. During this 10 years, consumers have completed a change in their mentality from unwilling to consume without touching physical objects or trying them on to enjoying the convenience and discounts brought by online shopping. In order to promote this change in consumption trend, e-commerce platforms have successively introduced incentives such as next day delivery and free return and exchange of products, A package has calmed consumers’ concerns about trial and error costs. The rise of fast fashion has played a key role in this trend. The convenience brought by pricing, rapid iteration, and various SKUs superimposed on online shopping has made consumers flock to it. Fast fashion captures not only the cross dressing and novelty loving millennials, generation Z, but also the older generation, who together led the transformation of the fashion industry.

In 2021, the e-commerce market sales of footwear, clothing and accessories in the UK were $54billion. It is expected to increase to US $60billion in 2022 and reach about US $83billion by 2025 (see Figure 1). Clothing will account for about 70% of the total sales, which is the main category purchased by consumers during the epidemic. However, the data analysis agency predicts that the growth rate in the future will be lower than that of accessories and footwear (see Figure 2).

(source: statista; unit: millions of dollars; where “F” represents forecast data, the same below)

(source: statista)

In 2019, the proportion of online and offline consumption of fashion categories was basically the same. In 2021, the proportion of online consumption was 53%. It is reported that this proportion will increase to 54% in 2022 and 67% in 2025 (see Figure 4). Among them, 57% of online consumption occurred in mobile terminals in 2021, which is expected to be 61% in 2022 and 68% in 2025 (see Figure 5). Fast fashion brands such as ASOs, boohoo and missguided, which sell their products only through online channels, began to try their best to catch the hearts of young people a few years ago, and the style of the fashion industry has also been reshaped. Many fashion brands failed in the transformation of the industry. Top shop, which was once popular in the UK, suffered business difficulties and finally closed down. ASOs took over the top shop store located in Oxford business street.

(source: statista; unit: pound)

(source: statista)

British fashion consumers are mainly young people, who pursue both uniqueness and cheapness. The proportion of men and women in British fashion consumers is 45%-55%, which shows that everyone has a heart for beauty (see Figure 6). 61% of online consumers of fashion products are under 45 years old, most of whom are between 18 and 34 years old (see Figure 7).

Among these age groups of fashion consumers, the high, middle and low income classes account for 1/3 each (see Figure 8). The diversity of fashion categories enables the needs of all levels of consumption to be met. As for why they choose online shopping, 50% of consumers said it was the price factor, 69% said it was the convenience of online shopping, and 40% said it was the richness of product categories (see Figure 9).

(source: statista)

(source: statista)

39% of consumers said they would search across multiple websites before consumption, while 29% said they would browse the Internet before going to physical stores for consumption. 9% said they would go to physical stores to experience it before online shopping. In addition, 6% said they would only shop online, while 17% said they would only shop in physical stores (see Figure 10).

43% of consumers choose fashion products on e-commerce platforms such as Amazon and eBay. Return and exchange, distribution services and pricing are important reasons for consumers to choose platforms. (see figure11). 22% choose to shop in online fashion boutiques.

(source: statista)

(source: statista)

Fast fashion meets the consumption desire of some people, but the damage to the natural environment is irreversible. The excessive inventory turnover rate also directly led to a lot of waste, and the exploitation of labor by fast fashion also aroused protests from people outside the industry. In this speculation, consumers’ shopping habits have been rewritten again, and more and more people express their desire to buy sustainable clothing.

In the past 12 months, 35% of consumers said they bought clothes that supported the concept of sustainability, 18% bought footwear products that supported the concept of sustainability, and 8% chose accessories. 30% said they didn’t pay special attention to whether they bought sustainable products (see Figure 12).

(source: statista)

27% of consumers said they were actively buying sustainable products, but many people still insisted on fast fashion. 23% said they would continue to buy fast fashion products, while 17% admitted to having many idle cheap clothes, 20% said they did notice the origin of the products, and 19% said that the “sustainability” marked on the label was just a marketing means of businesses (see Figure 13).

(source: statista)

At present, 6% of clothes sold in the UK are sustainable products, and this proportion will reach nearly 10% by 2026 (see Figure 14).

(source: statista)

In response to the accusations from environmentalists, fast fashion brands have successively introduced solutions. H&m promises to reduce its carbon footprint by 56% by 2030. Quiz, a British fashion retailer, will replace its energy use in its stores, headquarters and distribution centers with 100% renewable energy in 2022. In 2021, ASOs, in cooperation with the centre for sustainable fashion, published a guide on clothing to guide suppliers to solve the problems of environmental damage and resource waste in the production process.

34% of consumers still think that the price of sustainable products is too expensive, while 17% think that there are no sustainable products around for consumption (see Figure 15). To overcome this concept and allow consumers to actually touch these products, the industry needs to actively “sell” the concept of sustainability, and point out to consumers the relationship between the concept of sustainable consumers and the sustainable development of human society. It can only be said that there is a long way to go.

(source: statista)

The traffic of several major fashion retail brand websites in the UK (see figure16) shows that the retail environment of the industry has changed in the past two years. The epidemic has led many British fashion retailers to shift their investment focus to online. However, as the epidemic subsides and physical consumption returns, pure online fashion e-commerce has suffered a lot, such as missguided.

(source: statista)

Traffic in the fourth quarter of 2021 shows that the leading online fashion retailer in the UK so far is next, accounting for 7% of the market share. Next is one of the 11 retail brands with physical store business in the top20. Next not only understands the changes in shoppers’ habits, but also formulates a marketing strategy to strengthen online and offline linkage. Next has also added a marketing department that allows third parties (some of which are next competitors) to conduct business for next’s audience.

ASOs, boohoo and pretty little thing are among the top 20 online retailers in the UK, accounting for a considerable market share. Of course, they also see the prospect of physical retail. Through the physical stores left by Topshop, they have established an experience oriented shopping environment, which provides auxiliary support for online business.

The development of British fashion industry is also reflected in its richness and popularity. Among the Top50 fashion retailers in the UK, 62% are located in the UK (see Figure 17). The fashion industry in the UK has been favored by overseas consumers. From the traffic distribution of the top 50 fashion retailers in the UK, 18% of the visitors come from the United States, as well as France, Germany, Australia and Russia (see figure18). All these are attracted by British style and cutting-edge fashion, as well as its low price and rich choices.

(source: statista)

(source: statista)

Platform resolution:

#Amazon UK site

In 2021, Amazon UK website sold a total of 23.6 billion pounds worth of goods, 82% higher than before the epidemic. Data shows that in the fourth quarter of 2021, Amazon has become the fourth largest fashion retailer in the UK in terms of traffic, and revenue data shows that Amazon is currently the second largest online fashion retailer in the UK, with a market share of 4.8%, second only to ASOs, which has a market share of 6.6%.

Men’s wear is the main driving force for Amazon to seize the clothing market. In 2019, Amazon’s men’s wear market share accounted for 14% of the overall, while women’s wear accounted for only 4.1%. Over the past three years, Amazon’s overall sales have increased by about 20% every year, and its fashion revenue is also considerable. However, Amazon UK is difficult to gain a long-term foothold in market share. Market observers say that Amazon’s products on the shelves are more practical than ornamental, and lack the brand charm that Zara and next can show. This makes Amazon go far away from fashion, and it is very competitive in the high profit market, or the favorite of young people.

♪ Asos

Founded in 2000, ASOs is a pioneer in the online channel of fast fashion retail layout. It is mainly aimed at young audiences. At present, ASOs sells more than 850 brands, including its own brand products, with footprints in 190 countries or regions. In 2021, ASOs was faced with a double whammy from other e-commerce platforms. The number of active customers in the whole year increased by only 300000 to 26.7 million, and the gross profit margin decreased by 400 basis points to 43%. Profitability has also declined, and the actions of other retailers to clear inventory and the rise in transportation costs caused by supply chain contradictions are also one of the reasons for the decline in profitability.

ASOs acquired Topshop, Topman and miss Selfridge from the failed Arcadia group in 2021, and then the sales of Topshop brand on the ASOs platform increased by more than 200% year-on-year, with the fastest growth rates in Britain, Germany and the United States. By the beginning of 2022, analysts predict that ASOs’ revenue will increase by 10-15%.

#M&S

Before the outbreak of marks and Spencer (m&s), many losses have been recorded, which did not increase in 2017, and then fell sharply by 11.5% and 7.9% in 2018 and 2019, respectively. It is the epidemic that has reversed the decline of m&s. Many stores of m&s have food zones, which makes it one of the few fashion chains that can normally operate during the epidemic.

M&s was able to stop losing money in 2020, and completed the business restructuring during the epidemic, and has now completed the omni channel layout. M&s has doubled the proportion of online sales of clothing and household goods, closed more than 60 physical stores, and reduced the floor area of stores.

M&s also uses physical stores to launch online consumption and offline delivery, and offline stores also support returns. By the end of January 2022, this function has been used about 70000 times. The one-to-one online consulting service was used more than 28000 times in 2021.

Mobile consumption is also playing a key role. Now more than 3 million people use m&s applications, and mobile accounts for about half of all online orders. In the first six months to October 2021, online sales of clothing and household goods increased by 60.8%, accounting for 34.4% of the revenue of corresponding categories.

#next

In 2018, next recorded a year-on-year increase of 19.6%. Under the siege of ASOs, boohoo in the UK and zalando in Germany, the income in 2019 fell sharply. Fortunately, next adjusted its business in time. As of the first six months of July 2021, online sales increased by 52% over the same period in 2019, and the overall sales increased by 8.8%.

Before and after the epidemic, online demand exceeded expectations, especially for children’s clothing. The rapid development of online sales has also made up for the losses of physical stores to a certain extent. During the epidemic, the online sales profit of next also soared by 74%, making its annual profit reach 800million pounds, the highest since 2016. The reopening of physical stores in April 2021 opened a revenue generating portal for them. At the same time, next’s online business was not impacted by physical retail, and next still ended with a high profile in 2021. Next has invested heavily in its Omni channel platform, selling not only complementary products, but also competitive products. It increases the attraction and halo effect of next.

From: cross border e-commerce disclosure. More reading: 2C quantitative analysis of the remaining opportunities of the Internet. 2015 Indian e-commerce development report apptopia: Amazon ranked fourth in the world in the number of shopping applications installed in 2021. Nielsen: in 2012, the top 10 shopping applications on smart phones in the United States. CCID research Institute: the scale of home appliance retail in China reached 881.1 billion yuan in 2021, with a year-on-year increase of 5.7%. The dividend period of online retail Phase out and maturity Dongxing Securities: in depth report on the retail industry: e-commerce WAYFAIR: invisible billionaire UPS in Chengdian business district with orders exceeding US $1billion in 2013: investigation report on online shopping consumer behavior in 2018 Beijing No.2 Intermediate People’s Court: the number of online shopping disputes in 2016 increased by more than 600% year-on-year compared with last year, and the top ten 3D printing projects in 2016 were top 500: in June 2021, the world’s top 10 supercomputing ranked Japan’s top supercomputing fugaku held the top spot Forbes: China in 2021 China Merchants Securities: the potential of Suning from the comparison of jd.com (with download) Ren Xin mars: why do people buy clothes and shoes online? Edit Related Posts

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