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Bridalwear Market Assessment
Key Note Publications Ltd, Jan 2002
The bridalwear industry is highly fragmented, with over 1,000 retail outlets and around 72 UK companies designing and manufacturing gowns, bridesmaids' dresses and bridal accessories. Almost without exception, these are small, privately-owned companies that do not publish their annual returns.
Consequently, there is very little financial information available to the industry, and little industry research. Designers and retailers use their own experience to make their own market forecasts, which are always only short term - 1 to 2 years ahead.
Due to the long lead times required between the order and delivery of bridal gowns, the industry is able to accurately forecast requirements for the following year, but finds it almost impossible to forecast other trends for example, a large increase in the number of weddings forecast for the Millennium year was overestimated by many.
However, the trend for brides to marry at a later age continues, which allows the industry to design and market more sophisticated and higher priced gowns. This trend has sustained the market over recent years.
Higher manufacturing and labour costs are forcing many manufacturers to look to the Far East for their production to enable them to continue competing in the UK, although exports to Europe continue to decline.
The bridalwear industry has reached saturation point, with too many suppliers and retailers competing for business. Without a significant increase in the number of weddings and brides wearing gowns made for the occasion, all companies can do is compete for market share.
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