Product Extension - Curated Wardrobe - Premiumisation
I know its Mintel but some info that may be relevent from my other project for next term. I thought might be interesting for the MINI lifestyle extension for you girlies. I'll have a look at men's too.
Women's Fashion
Lifestyles - UK - May 2012
Young women are delaying making big financial
commitments, cushioning them from the worst effects of the recession and
allowing them to continue to splash out on fashion.
The women’s fashion market is set to prosper from more
people working in white-collar senior managerial and professional occupations.
The number of ABs is predicted to grow by 6% to 14.8 million, an increase of
0.9 million UK adults, and these affluent shoppers have the greatest spending
potential.
AB women are most inclined to prefer good-quality
clothing that they can wear for several seasons and to opt to invest in fewer
items of superior-quality clothing. This socio-economic shift therefore paves
the way for premiumisation within the women’s fashion market.
Over the next four years, Mintel forecasts that the women’s fashion market will grow 19% to reach £23.2 billion in 2016.
Over the next four years, Mintel forecasts that the women’s fashion market will grow 19% to reach £23.2 billion in 2016.
There is a widespread consensus among women that it is
more important to dress in a way that suits their individual body shape rather
than automatically adhering to the latest fashion trends.
ABs opt for quality over quantity
A fifth of women are opting to invest in fewer items of
superior-quality clothing, which is encouraging premiumisation within the fashion
market. 25-34s (23%), ABs (27%) and shoppers at higher-priced fashion stores
are most inclined to put quality over quantity when they are shopping for
clothing.
Fashion Online - UK - March
2012
The rise and rise of social media
Social networks present a powerful platform for fashion retailers to promote their brand, heighten awareness of their fashion offering and engage with their audience. This is particularly the case for young fashion brands, as under-25s are the biggest fans of sites such as Facebook and Twitter.
Social networks present a powerful platform for fashion retailers to promote their brand, heighten awareness of their fashion offering and engage with their audience. This is particularly the case for young fashion brands, as under-25s are the biggest fans of sites such as Facebook and Twitter.
In 2011, Mintel estimates the online clothing and
footwear market to have grown by 18% to £5 billion. This represents a
phenomenal growth of 147% since 2006 and reflects consumers’ rapidly growing
appetite for fashion ecommerce.
Boom in smartphone ownership
According to Mintel’s Digital Trends Winter – UK, December 2011 report, the majority of consumers (54%) now own a smartphone, peaking among ABs (65%) and 16-24s (69%). 2011 TGI data reveal that a third (34%) of internet users have surfed the web via their mobile phones, an increase of 21 percentage points since 2008. M-commerce is expanding at a rapid pace, making it a lucrative channel that fashion retailers can ill-afford to ignore.
According to Mintel’s Digital Trends Winter – UK, December 2011 report, the majority of consumers (54%) now own a smartphone, peaking among ABs (65%) and 16-24s (69%). 2011 TGI data reveal that a third (34%) of internet users have surfed the web via their mobile phones, an increase of 21 percentage points since 2008. M-commerce is expanding at a rapid pace, making it a lucrative channel that fashion retailers can ill-afford to ignore.
Traditional ecommerce sites have been about providing
as much choice as possible at the click of a button. However a new breed of
retailers sees value in providing a much more restricted range of items.
http://www.wired.co.uk/news/archive/2011-06/30/curated-e-commerce
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