What you need to know
Mintel estimates that consumer spending on womenswear grew by only 1.4% in 2019 to reach £29.3 billion as the sector is struggling from weaker sales due to lacklustre retail footfall and an overreliance on discounting. Appetite for fashion has dropped off amid the COVID-19 lockdown and fashion is set to be one of the hardest hit retail sectors. Mintel predicts that sales of womenswear will decline dramatically, dropping by 21% in 2020. While there is likely to be some pent-up demand once the lockdown is over, financial instability created by furloughing schemes and widespread redundancies across different industries means that consumers will be reluctant to splash out on discretionary categories such as clothing, as well as to return to crowded places to shop initially.
As online shopping for fashion increases and the shift away from stores outlasts the COVID-19 outbreak and creates a longer lasting legacy, retailers will need to continue to find ways to emulate the in-store shopping experience online. Millennials, who are the keenest fashion shoppers, are particularly drawn to the latest technology innovations including digital tools that allow them to try clothes on virtually, visual search apps and personal style recommendations, there is scope for more retailers to invest in these to improve the online shopping experience and to help them better connect with customers.
Key issues covered in this Report
The impact of COVID-19 on consumer behaviour and shopping for womenswear.
What will happen to sales of women’s clothing in 2020 as a result of the COVID-19 outbreak.
Adapting to the shift towards greater online purchasing.
Appealing to the underserved older female consumer.
