Table of Contents
Introduction
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- Definitions
- Abbreviations
Executive Summary
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- The market
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- Figure 1: Best- and worst forecast expenditure on clothing and footwear by 16-24s, at current prices, 2006-16
- Figure 2: Projected numbers of 15-24-year-olds in the UK, 2006-11 and 2011-16
- Are youths of today becoming a ‘lost generation’?
- The end of price deflation
- Upward mobility will boost the youth fashion market
- The consumer
- Fashion is the top priority of teens
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- Figure 3: Expenditure priorities, by age group, September 2011
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- Figure 4: Frequency of clothes shopping, by gender and age group, September 2011
- Primark reigns supreme
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- Figure 5: Retailers shopped at in the last 12 months, September 2011
- ABs drive mid-market fashion
- The growing influence of supermarket fashion
- Online shopping
- Most youths prefer to shop solo and swiftly
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- Figure 6: Attitudes towards shopping for clothes, by gender, September 2011
- Teenage girls like to shop with friends
- Upmarket teen girls are frivolous shoppers
- Premium versus bargain fashion
- Individual style vs. following the fashion crowd
- Young men align fashion style with sexiness
- Young consumers shopping with more caution
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- Figure 7: Attitudes towards shopping for clothes, September 2010 and September 2011
- Cash-strapped youths are shrewd and price-savvy shoppers
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- Figure 8: Attitudes towards buying clothes, February 2011
- Young female are trading down
- What we think
Issues in the Market
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- How is multichannel retailing impacting upon the youth fashion market?
- Is the era of fast disposable fashion coming to an end?
- What factors are affecting the spending potential of under-25s?
- Will young consumers and students continue to spend?
- How do teenagers differ in their spending habits to those in their early twenties?
- With the growing popularity of mobile and online platforms, how can retailers maximise in-store clothing sales among under-25s?
Future Opportunities
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- Trend: Experience is All
- Trend: FSTR HYPR
Internal Market Environment
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- Key points
- Education, education, education
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- Figure 9: All students at publicly funded higher education institutions (HEIs), by mode and level of study, 2005/06-2009/10
- Soaring student loans
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- Figure 10: Total amount of student loans lent to English domiciled students studying in the UK and EU students studying in England, 2005-11
- Under-25s are most image-conscious
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- Figure 11: Statements on personal appearance, by age group and gender, 2011
- Young generation are avid followers of fashion
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- Figure 12: Statements on personal appearance, by age group and gender, 2011
- Sports active
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- Figure 13: Consumers who have bought sports clothing, in the last 12 months, by age group and gender, 2011
- Mobile goes mainstream among youths
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- Figure 14: Use of the internet via mobile phone, by age group, 2009-11
- One in ten youths are clinically obese
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- Figure 15: Levels of obesity based on BMI of 30 or more, by gender and socio-economic group, 2007-11
Broader Market Environment
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- Key points
- Declining under-25s will hit clothing market
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- Figure 16: Projected numbers of 15-24-year-olds in the UK, 2006-11 and 2011-16
- ABs to boost clothing sales
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- Figure 17: Forecast growth of the UK population, by socio-economic group, 2006-11 and 2011-16
- Youth unemployment breaks 1 million milestone
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- Figure 18: Unemployment rate for 16-24-year-olds, 2007-11
- Figure 19: Number of unemployed 16-24s in the UK, January-September 2011
- Youths are delaying the move to independent living
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- Figure 20: UK households, by size, 2006-16
- Under-25s are most optimistic about their finances
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- Figure 21: Current financial situation, by age, June 2011
- Turbulence in the eurozone but UK GDP growth stronger than expected
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- Figure 22: Trends in GDP quarterly percentage change, Q1 2004-Q2 2011
- Consumer confidence remains in deep negative territory
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- Figure 23: Trends in consumer confidence, January 2008-September 2011
- The end of price deflation?
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- Figure 24: Inflation in clothing and footwear, January 2006-October 2011
Strengths and Weaknesses in the Market
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- Strengths
- Weaknesses
Who’s Innovating?
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- Key points
- Going mobile
- Revolutionising the dressing room experience
- Shaking up the traditional in-store experience
- The emergence of social shopping online
- Multichannel advancements
- Visually and experientially compelling retailing
- The rise of designer collaborations
Competitive Context
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- Key points
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- Figure 25: Spend on clothing and footwear by 15-24s and total spend on clothing and footwear, 2006-11
Market Size and Forecast
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- Key points
- The under-25 clothing and footwear market reaches £10.3 billion in 2011
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- Figure 26: Under-25s’ estimated expenditure on clothing and footwear, 2006-16
- The future
- The under-25 fashion market is set to grow by 10%
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- Figure 27: Best- and worst- case forecast spend on clothing and footwear by 16-24s, at current prices, 2006-16
- Factors used in the forecast
Retail Competitor Analysis
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- Key points
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- Figure 28: Turnover of selected players in the youth fashion market, 2008-11
Companies and Products
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- Topman/Topshop
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- Figure 29: Key financials of Arcadia Group Brands Limited, 2009-10
- H&M
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- Figure 30: Key financials for H&M (Hennes & Mauritz), 2010-11
- Zara
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- Figure 31: Key financials for Zara UK limited, 2010-11
- New Look
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- Figure 32: Key financials for New Look Group Plc, 2010-11
- River Island
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- Figure 33: Key financials for River Island Clothing Co. Limited, 2009-10
- Ted Baker
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- Figure 34: Key financials for Ted Baker Plc, 2010-11
- Republic
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- Figure 35: Key financials for Republic (Retail) Ltd, 2010-11
- Superdry
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- Figure 36: Supergroup Group, financial performance, 2010-11
- Primark
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- Figure 37: Key financials for Primark Stores Limited, 2009-10
Brand Communication and Promotion
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- Key points
- Resurgence in adspend in 2010
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- Figure 38: Main monitored media advertising expenditure on fashion, 2007-11
- Press advertising holds supremacy
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- Figure 39: Main monitored media advertising expenditure on fashion, by media type, 2007-11
- Next is the leader in adspend
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- Figure 40: Main monitored media advertising expenditure on fashion advertising, by company, 2007-11
The Consumer – Types of Clothing Bought by 16-24s
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- Key points
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- Figure 41: Types of clothing bought by 16-24s, 2011
- Decline in purchases of outerwear
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- Figure 42: Spend on outerwear by 16-24s, by type, 2007-11
- Basics are the most commonly purchased items by men
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- Figure 43: Spend on menswear, by type, 2007-11
- Dress purchases soar
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- Figure 44: Spend on womenswear, by type, 2007-11
The Consumer – What Do 15-24s Spend Their Money On?
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- Key points
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- Figure 45: Expenditure ranking, by gender, September 2011
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- Figure 46: Expenditure ranking, by age group, September 2011
- Teenage girls more likely to spend on clothing and shoes
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- Figure 47: Consumers who spend the most on clothing and shoes, by demographics, September 2011
- Accommodation costs become the biggest area of spend for 20-24s
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- Figure 48: Consumers who spend most on rent/mortgage and bills, by demographics, September 2011
- Food to eat at home is a major expense for E consumers with children
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- Figure 49: Consumers who spend most on food to eat at home, by demographics, September 2011
- Affluent ABs spend the most on cars and transport
- Male C1s splurge on going out
- Teenage boys are drawn to music, DVDs and games
The Consumer – How Often Do 15-24s Buy Clothes?
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- Key points
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- Figure 50: Frequency of clothes shopping, by gender and age group, September 2011
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- Figure 51: Frequency of clothes shopping, by gender, September 2011
- Most are seasonal shoppers
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- Figure 52: Consumers who buy clothes once a month or every few months, by demographics, September 2011
- Young women shop most regularly
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- Figure 53: Consumers who buy clothes once a week or 2-3 times a month, by demographics, September 2011
- One in eight are occasional shoppers
- Under-25s are shopping less frequently
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- Figure 54: Frequency of clothes shopping, September 2010 and September 2011
The Consumer – Where Do 15-24s Shop for Clothes?
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- Key points
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- Figure 55: Retailers shopped at in the last 12 months, September 2011
- Primark leads the way
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- Figure 56: Consumers who have bought clothing from Primark in the last 12 months, by demographics, September 2011
- Six in ten female 15-24s shop at New Look
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- Figure 57: Consumers who have bought clothing from New Look in the last 12 months, by demographics, September 2011
- Three in ten under-25s shop at H&M
- Topshop and River Island attract teenage ABs
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- Figure 58: Consumers who have bought clothing from River Island and Topshop/Topman in the last 12 months, by demographics, September 2011
- Upmarket 20-24s shop at department stores
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- Figure 59: Consumers who have bought clothing from department stores and supermarkets in the last 12 months, by demographics, September 2011
- Under-25 supermarket fashion shoppers tend to be Es with children
- eBay and other online stores draw in an older crowd
- Zara shoppers are not concerned with price
- Vintage is a niche
- Ted Baker is most popular among men in their early twenties
- Decline in consumers shopping at all stores
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- Figure 60: Retailers shopped at in the last 12 months, September 2010 and September 2011
The Consumer – 15-24s’ Attitudes Towards Clothes Shopping
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- Key points
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- Figure 61: Attitudes towards shopping for clothes, by gender, September 2011
- The majority of youths prefer to shop solo
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- Figure 62: Attitudes towards shopping for clothes alone or with friends, by demographics, September 2011
- Female teens prefer to shop socially
- Male students align fashion with attractiveness
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- Figure 63: Consumers who think that wearing fashionable clothes makes them more attractive to the opposite sex
- Affluent teens are frivolous shoppers
- A fifth of under-25s follow the fashion crowd
- ABs put the greatest emphasis on quality over quantity
- Females seek out bargains
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- Figure 64: Consumers who prefer to buy fewer items of better quality clothing and those who mainly buy bargain clothing, by demographics, September 2011
- Students go shopping with their parents
- Cost is immaterial to one in five ABs
- One in ten like to imitate their friends’ fashion style
- Under-25 Es are most inclined to shop with friends with similar style
- A shift in young shoppers’ attitudes towards spending
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- Figure 65: Attitudes towards shopping for clothes, September 2010 and September 2011
The Consumer – Youths’ Attitudes Towards Buying Clothes
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- Key points
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- Figure 66: Attitudes towards buying clothes, February 2011
- Youths seek out bargains
- Impulse buying falls victim to the recession
- Price-conscious youths shop around
- Female under-25s are trading down
Appendix – Internal Market Environment
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- Figure 67: Agreement with lifestyle statements on personal appearance, 2011
- Figure 68: Agreement with lifestyle statements on personal appearance, 2007-11
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Appendix – Brand Communication and Promotion
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- Figure 69: Main monitored media advertising expenditure on fashion advertising, by company, 2007-July 2011
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Appendix – The Consumer – Types of Clothing Bought by 16-24s
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- Figure 70: Spend on outerwear by 16-24s, by type, by demographics, 2011
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- Figure 71: Spend on menswear, by demographics, 2011
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- Figure 72: Spend on womenswear, by demographics, 2011
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Appendix – The Consumer – What Do 15-24s Spend Their Money On?
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- Figure 73: Most popular expenditure ranking, by demographics, September 2011
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- Figure 74: Next most popular expenditure ranking, by demographics, September 2011
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- Figure 75: First rank of expenditure, by demographics, September 2011
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- Figure 76: Second rank of expenditure, by demographics, September 2011
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Appendix – The Consumer – How Often do 15-24s Buy Clothes?
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- Figure 77: Frequency of clothes shopping, by demographics, September 2011
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- Figure 78: Frequency of clothes shopping, by most popular retailers shopped at in the last 12 months, September 2011
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- Figure 79: Frequency of clothes shopping, by next most popular retailers shopped at in the last 12 months, September 2011
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- Figure 80: Frequency of clothes shopping, by other retailers shopped at in the last 12 months, September 2011
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Appendix – The Consumer – Where do 15-24s Shop for Clothes
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- Figure 81: Most popular retailers shopped at in the last 12 months, by demographics, September 2011
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- Figure 82: Next most popular retailers shopped at in the last 12 months, by demographics, September 2011
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- Figure 83: Attitudes towards shopping for clothes, by most popular retailers shopped at in the last 12 months, September 2011
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- Figure 84: Attitudes towards shopping for clothes, by next most popular retailers shopped at in the last 12 months, September 2011
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- Figure 85: Attitudes towards shopping for clothes, by other retailers shopped at in the last 12 months, September 2011
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Appendix – The Consumer – 15-24s’ Attitudes Towards Clothes Shopping
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- Figure 86: Most popular attitudes towards shopping for clothes, by demographics, September 2011
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- Figure 87: Next most popular attitudes towards shopping for clothes, by demographics, September 2011
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Appendix -The Consumer – Youths’ Attitudes Towards Buying Clothes
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- Figure 88: Most popular statements on buying clothes by demographics, February 2011
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- Figure 89: Next most popular statements on buying clothes by demographics, February 2011
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- Figure 90: Most popular statements on buying clothes by demographics, February 2011
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- Figure 91: Next most popular statements on buying clothes by demographics, February 2011
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