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Youth Fashion - UK - December 2016

Published By :

Mintel

Published Date : Dec 2016

Category :

Apparel

No. of Pages : N/A

Growth in the market is slowing as young women spend less on clothes. Outperforming the market have been the fashion pureplays. Social media plays an important role in fashion purchasing, and without a physical store presence, the pureplays have been highly innovative in building up a social dialogue with young shoppers, while offering the value for money that they seek.

Table of Contents

OVERVIEW
What you need to know
Products covered in this Report

EXECUTIVE SUMMARY
The market
Youth fashion market grows 1.8%
Figure 1: Best- and worst-case forecast spending on clothing and footwear by consumers aged 15-24, 2011-21
Young men help drive up value sales
Teens and tweens present an opportunity for growth
Companies and brands
Fashion pureplays outperform the market
Figure 2: Compound annual growth rates of leading youth fashion retailers, 2011-15
Multichannel young fashion retailers report weak growth
Decline in above-the-line advertising spend
River Island creates branded Snapchat filters for use in stores
The consumer
Primark is the top place for fashion
Figure 3: Where young people shop for clothes, either in-store or online, October 2016
Weather and special occasions influence fashion purchases
Figure 4: Factors that influence the clothing young people buy, October 2016
Content co-creation could boost social media interaction
Figure 5: Interactions with fashion brands on social media in the last 6 months, October 2016
Young people mostly influenced by those of their age
Figure 6: Attitudes towards buying and browsing for fashion online, October 2016
What we think

ISSUES AND INSIGHTS
Engaging the young male shopper
The facts
The implications
Which retailers are winning in the youth fashion sector?
The facts
The implications
How content co-creation can drive social media interaction
The facts
The implications
The case for embracing shoppable social media
The facts
The implications

THE MARKET – WHAT YOU NEED TO KNOW
Growth in the youth fashion market is slowing
Decline in 15-24s set to continue
Young people are better off financially
More youths in employment
Young women lead social media usage

MARKET SIZE AND FORECAST
Youth fashion market grows 1.8%
Figure 7: Estimated expenditure on clothing and footwear by 15-24s, at current prices, 2011-21
Market set to become more challenging
Figure 8: Best- and worst-case forecast spending on clothing and footwear by consumers aged 15-24, 2011-21
Teens and tweens present an opportunity for growth
Forecast methodology

MARKET DRIVERS
Youth population in decline
Figure 9: Trends in the age structure of the UK youth and teen population, by gender, 2011-21
Financial sentiment improves among the young
Figure 10: How 16-24-year-olds describe their financial situation, September 2015 and September 2016
Young women cut back on clothing purchases
Figure 11: What extra money is spent on, by 16-24s, September 2014, 2015 and 2016
More youths in employment
Figure 12: Unemployment rate among 16-17s and 18-24s, Jan-Mar 2013-Jan-Mar 2016
Young women lead social media usage
Figure 13: Usage of social and media networks in the last three months among 16-24s, by gender, March 2016
Six in 10 young people buy outerwear
Figure 14: Clothing and accessories purchasing in the last three months, September 2016
Young people twice as likely to shop for clothing on their smartphone
Figure 15: Channels used to shop online for clothing, footwear and/or fashion accessories, among 16-24s and all consumers, June 2016
Festivals fuel new clothing purchases
Figure 16: Purchasing of fashion items for different summer events, among 16-24s and all consumers, September 2015
Decline in higher education students
University fees set to rise again

COMPANIES AND BRANDS – WHAT YOU NEED TO KNOW
Pureplays outperform the market
Multichannel young fashion retailers report weak growth
Online holding back Primark’s performance
Menswear market a focus of growth
Message of inclusivity in young fashion retailer’s campaigns
Snapchat an ideal platform for engaging with the young
ASOS is the most trendsetting brand, Very excels for service

RETAIL COMPETITOR ANALYSIS
Financial performance
Primark growth slows as it reaches maturity
Figure 17: Turnover of selected players in the UK youth fashion market, 2011-15
Pureplays ASOS, Missguided and Boohoo outperform the sector
Low growth at the youth-orientated Topshop, Topman and River Island
Figure 18: Compound annual growth rates of leading youth fashion retailers, 2011-15
Profitability
Figure 19: Operating profit of selected players in the UK youth fashion market, 2015
Figure 20: Operating margin of selected players in the UK youth fashion market, 2015
Outlet numbers
Superdry expands across Europe
Struggling Forever 21 reviews remaining UK store portfolio
Figure 21: Outlet numbers of selected players in the UK youth fashion market, 2011-15
Brands to watch

LAUNCH ACTIVITY AND INNOVATION
Boohoo and New Look focus on menswear growth
Pureplays leverage trust into range extensions
Zara launches sustainable clothing collection
Figure 22: Garments from Zara’s sustainable Join Life collection, autumn/winter 2016
Missguided incorporates social dialogue into first flagship store
Figure 23: In-store signage in Missguided’s flagship store encouraging social media interaction, November 2016
River Island trials mobile sales points in store
ASOS and New Look offer more precise delivery slots
Very launches Whatsapp-style customer service platform
Figure 24: Screenshots from Very Assistant, set for launch in 2017

ADVERTISING AND MARKETING ACTIVITY
Decline in above-the-line advertising spend
Figure 25: Total above-the line, online display and direct mail advertising expenditure on fashion among selected players in the youth fashion market, 2012-16
Message of inclusivity in young fashion retailer’s campaigns
Scope to use ‘real’ young men in advertising
H&M promotes diversity in its campaigns
Figure 26: Total above-the line, online display and direct mail advertising expenditure on fashion among selected players in the youth fashion market, by media type, 2015
Nielsen Ad Intel coverage

SOCIAL MEDIA ACTIVITY
Instagram and Snapchat add shoppable features
ASOS and Missguided drive content co-creation
River Island creates branded Snapchat filters for use in stores
From bloggers to vloggers
Global followers
Figure 27: Global followers on social and media networks, November 2016

SPACE ALLOCATION SUMMARY
River Island is the least biased to womenswear
Figure 28: Specialist clothing retailers, estimated space allocation by men’s, women’s and children’s wear, October 2016
Topshop dedicates most space to athleisure
Figure 29: Specialist clothing retailers, estimated detailed space allocation by category, October 2016
Figure 30: Womenswear specialists, estimated detailed space allocation by category, October 2016
Figure 31: Menswear specialists, estimated detailed space allocation by category, October 2016

RETAIL PRODUCT MIX
Figure 32: Clothing retailers, estimated sales mix, 2015
Figure 33: Clothing retailers, estimated sales density by product, 2015/16
Market shares by product
Figure 34: Clothing retailers in the youth fashion sector, share of product markets, 2015/16

BRAND RESEARCH
Next is the most trusted brand among 16-24s
Figure 35: Attitudes towards selected brands among 16-24s, January-August 2016
Very stands out for customer service
Figure 36: Attitudes towards selected brands among 16-24s, January-August 2016
Primark offers value, but so do the ‘fun’ and ‘trendsetting’ pureplays
Figure 37: Attitudes towards selected brands among 16-24s, January-August 2016
Figure 38: Attitudes towards selected brands among 16-24s, January-August 2016
Figure 39: Attitudes towards selected brands among 16-24s, January-August 2016

THE CONSUMER – WHAT YOU NEED TO KNOW
Primark the most popular place for buying fashion
Amazon and the fashion pureplays gain the most online shoppers
Weather and seasonal events influence fashion purchases
Young people more influenced by their friends than celebrities
Selfie phenomenon creates opportunity for content co-creation
Shoppable social media set to tap into demand for instant payment
Young people mostly influenced by those of their age
Whatsapp set to play a bigger role in online customer service

WHERE YOUNG PEOPLE SHOP FOR CLOTHES
Primark the most popular place for buying fashion
Figure 40: Where young people shop for clothes, either in-store or online, October 2016
New Look still heavily biased towards women
Figure 41: Where young people shop for clothes, either in-store or online, by gender, October 2016
Topman stands out for men’s fashion
Popularity of sports stores presents scope for men’s active ranges
Trend data – Who has gained online shoppers?
Amazon becomes the top online fashion retailer
ASOS and the fashion pureplays gain the most shoppers
Figure 42: Where young people shop for clothes online, September 2014 and October 2016
Trend data – Who has gained overall?
H&M sees surge in shoppers
Figure 43: Where young people shop for clothes in-store or online, September 2014 and October 2016
Zara grows on the back of fast reaction to trends
Repertoire analysis
Four in 10 young women shop at five or more retailers
Figure 44: Repertoire of retailers used in store, by gender, October 2016
Young men show greatest loyalty online
Figure 45: Repertoire of retailers used online, by gender, October 2016

INFLUENCES ON CLOTHING PURCHASES
Value for money is a top concern
Figure 46: Factors that influence the clothing young people buy, by gender, October 2016
The issue of weather and seasonal fashion
Seasonal events key to driving purchases among young women
Friends more of an influence than celebrities
Teens most concerned with how they look on social media

INTERACTION WITH FASHION BRANDS ON SOCIAL MEDIA
Opportunity to drive content co-creation
Figure 47: Interactions with fashion brands on social media in the last 6 months, by gender, October 2016
One in 10 young women have bought fashion through social media
Engaging with young men on social media

ATTITUDES TOWARDS FASHION ONLINE
Young people seek out influencers of their age
Figure 48: Attitudes towards buying and browsing for fashion online, by gender, October 2016
Whatsapp set to play a bigger role in online customer service
Social shopping and personalisation could ease online browsing
Security of buying through social media a concern for young women
Figure 49: Attitudes towards fashion brands’ activity on social media, by gender, October 2016
Young consumers demand relevant adverts

APPENDIX – DATA SOURCES, ABBREVIATIONS AND SUPPORTING INFORMATION
Abbreviations
Consumer research methodology

APPENDIX – MARKET SIZE AND FORECAST
Forecast methodology

List of Table

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