According to recent joint data from the British Retail Consortium and KPMG, a world-renowned management consulting firm, thanks to the strong growth momentum of children’s footwear and clothing products brought about by the back-to-school shopping season, 9 In March, UK retail sales increased by 0.7%. This rare sign of “recovery” also gives British retailers comfort and confidence in future retail growth expectations. In view of the current optimistic data, the British retail business consulting company Verdict also recently released the latest retail forecast data. The report stated that in the fourth quarter, British consumer spending will increase by 2.2% from 86.5 billion pounds last year to 88.4 billion pounds (1415 billion pounds). One hundred million U.S. dollars). In terms of consumer spending, consumers will still prefer clothing and footwear products, and this type of spending is expected to increase by 3.2% year-on-year to 15.4 billion pounds.
Verdic also emphasized that in terms of profitability, not all clothing retailers will cheer for the considerable retail sales in the fourth quarter, but British high-end clothing retailers and department stores will undoubtedly become the biggest winners in future competition. . In the fierce market wave, high-end clothing retailers such as Reiss and TedBaker, which have been trying to increase the added value of their products through quality and design, are expected to gain a lot in the fourth quarter. Other apparel retailers will adopt consistent promotions or discounts to increase product sales.
In terms of hot-selling products, warm coats and long and short boots, which are essential in winter, will become the most powerful growth points to increase sales this season. As male consumers pay more and more attention to fashion and fashion products, men’s clothing consumption is also gradually optimistic. In addition, multi-field apparel retailers, especially those involved in e-commerce apparel products, will see a significant increase in customer traffic. All in all, Verdic concluded by saying that British clothing retailers are expected to have their most exciting Christmas since the recession.
