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Childrenswear Market Report 2011
Key Note Publications Ltd, May 2011
This Key Note Market Report analyses the UK market for childrenswear, which comprises clothing designed for children under the age of 14. The main sectors of the market include girls’ clothing (ages 2 to 14), boys’ clothing (ages 2 to 14) and infants’ clothing (for under-2 year-olds). In 2010, the total UK market for childrenswear was valued at £5.91bn, after increasing by 6.5% from 2009.
Many factors have helped the growth of the childrenswear market; however, the necessity for children’s clothing will always be the main influence. Other factors, including the fast growth rate of children and consumers disposing of or recycling clothes more frequently, rather than keeping them for other siblings, also have an impact on the industry as more items are being purchased. Furthermore, the growing child population has boosted sales in the industry, while the family structure has changed to benefit sales. Many parents are having children at an older age, when they generally have a higher disposable income, while more families are having fewer children, resulting in an increase per capita being spent on children’s clothing.
Sales slowed down considerably during the recession, owing to consumers being more cautious about spending, while many opted to shop at value and cheaper retailers. However, it is believed that consumers were more likely to cut back on luxuries for themselves rather than reduce their purchasing of clothing for their children during financial hardship.
The recent economic climate in the UK also affected a number of businesses in the children’s clothing market. Both national and independent retailers were forced out of business, while value retailers benefitted from their lower pricing points. Despite this, prices of children’s clothing have recently increased due to many factors, such as the global shortage of cotton, which saw the price of the raw material rise considerably, and the increase in value-added tax (VAT) in the UK in January 2011. The high cost of transportation and the current weak pound are also affecting the cost of clothing and imports into the UK. This has resulted in retailers being forced to increase prices at the tills; some believe these changes could further impact on the decline of the cheap clothing phenomenon.
Over the forecast period (2011 to 2015), Key Note estimates that the UK childrenswear market will witness continual growth. This will be achieved through an increase in prices, adding value to the industry, while the media will further help influence children’s own opinions of clothing (wanting to imitate the latest fashion trends, etc.). Technological advances, including retailers having a greater presence online, will also boost sales. In 2015, Key Note estimates that the total childrenswear market will be worth £6.99bn.
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