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UK Fashion industry statistics and marketing insights

The fashion retail industry is ferociously competitive even though we have more brands on the high street than ever before, thanks to the cheap manufacturing costs and aggressive marketing campaigns, being fashionable is very fashionable. Before launching your marketing campaign, there are some key stats that will help you improve your campaign.

#00. According to Caroline Rush from the British Fashion Council, the UK fashion industry has hit a record £32 billion a year.

The UK fashion industry has experienced a big growth over the last two decades, and it accounts for 5.4% of the national GDP. It employs 55000 people across the country and women’s suits account for 11% of all the sales.

The UK fashion industry has experienced a big growth over the last two decades, and it accounts for 5.4% of the national GDP. It employs 55000 people across the country and women’s suits account for 11% of all the sales.

#01. E-commerce clothing will reach the $450 Billion figure by 2020

Needless to say that e-commerce keeps growing every year as brick and mortar businesses are suffering more these days. It is estimated that in 3 years times if the growth keeps at the same pace, it will reach 475 billion worldwide.

#02. Footwear growth represented 10% in 2017-2019, in 2022 is expected to grow 6%

influencer platforms
#03. Instagram is the social media network which has the highest engagement rate for apparel with 13%

#04. Top UK companies based on market capitalization are Burberry and Next with 10billion and 7.16nillion dollars each

Not surprisingly the largest fashion houses in terms of its market capitalization are the Burberry Group Plc. The luxury fashion house is worth over 10 billion dollars. Next comes next in the list, the fast fashion retailer is the second on the list with 7 billion pounds. M&S and Asos come after on the list in that order with an estimated value of 6 billion.

#05. Since 2002 sales of clothing have almost doubled from $1 trillion to 1.8. (Greenpeace 2017)

Needless to say that the apparel industry is still booming, thanks to social media fashion brands have been able to market their products easier than ever being able to reach to the majority of their audience at an affordable price.

#06. The fashion industry is expected to grow with sales projected to rise to $2.1 trillion by 2025. (Greenpeace 2017)

Fashion has been growing consistently for the last 10 years and this trend is expected to keep up at a pace of 3% a year. By 2025 fashion retail and e-commerce sales would have passed the 2 billion dollar mark.

#07. Apparel consumption is expected to rise by 63% from 62 million tons today to 102 million tons in 2030. (Global Fashion Agenda 2017)

Sales are going, production is doubling up too and consumption will increase by 63% according to Global Fashion Agenda research from 2017. The upward trend will continue and it seems like the future of fashion will prosperous.

#08. Compared to consumers 15 years ago, today consumers spend 60% more on clothing and keep those for half the time

Fast fashion has grown notably in the last two decades, we have moved from a more practical fashion habit to a disposable fast pace industry where companies in the high street have been competing for lower prices, creating this so-called fast disposable fashion, consumers do not buy garments for quality but for seasonal trends.

#09. The average UK home spends around £1,700 on garments annually. (WRAP 2011)

If you are a fashionista reader like myself, I know you are spending that much just yourself. But it is actually £1700 a year what the average home in the UK spend on clothing. An average of 27 items Britons buy a year to look good and stay warm. Americans are also big spenders with a figure closer to $1700 a year on clothing and fashion.

# 10. The contents of the average UK household wardrobe are worth £4,000 or more. (WRAP 2011)
#11 Apparel manufacturing has increased twice its production from 2000 to 2014. (McKinsey 2016)

Trends within the fashion and apparel industry that may influence U.S. employment in coming years include consolidation of businesses in the retail sector, increased use of e-commerce by consumers, improved technology decreasing the need for garment

#12. In the UK, the estimated average lifespan for a piece of clothing is under 2 years and 3 months. (WRAP 2011)

03. About Author

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I am a marketing consultant and passionate about all the marketing fields and possibilities, I love helping small and medium companies make the most of their marketing budget and my main aim to support them to increase their revenue.

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