The eCommerce data is based on Statista’s primary research (the Statista Global Consumer Survey), bottom-up modeling, market data from independent databases and third-party sources, the analysis of various key market and macroeconomic indicators, historical developments, current trends, the reported performance indicators of the key market players, and Statista interviews with market experts. In the Fashion segment, 29% of total market revenue will be generated through online sales by 2023. You can find further source information in the methodology section. 2019. The “Revenue Growth” box shows the year-over-year revenue development of the selected market (market segment, region) in percentage terms. The State of Fashion 2020 CONTRIBUTORS ACHIM BERG Based in Frankfurt, Achim Berg leads McKinsey’s Global Apparel, Fashion & Luxury group and is active in all relevant sectors including clothing, textiles, footwear, athletic wear, beauty, accessories and retailers spanning from the value end to luxury. "Even as the … 1 Almost 75% of the world’s fashion market is concentrated in Europe, USA, China and Japan. It covers all private household spendings meant for consumption at home. •    the desire and demand created by the top end designer sector and its influence on and diffusion the mainstream – i.e. perfume, accessories, homeware etc.) in millions Today, underwear makes up 4% of womenswear products currently retailing online across the US and UK markets combined. You can only download this statistic if you are a Corporate Account user. print catalogs). The report highlights key challenges facing the sector: Fast-fashion retailer Next Plc is the second largest fashion company in the United Kingdom, based on its market value of 7.16 billion pounds. Households denote residential communties of people living and keeping house together. Fashion is a highly sophisticated, $2.5 trillion global industry. The “Revenue” tab shows a comparison of revenues for the leading economies in the selected market (market segment, region) and year. Accessed: December 21, 2020. https://www.statista.com/outlook/244/156/fashion/united-kingdom, Fashion - United Kingdom Statista, https://www.statista.com/outlook/244/156/fashion/united-kingdom (last visited December 21, 2020), A definition and detailed explanation of the displayed markets can be found, Number of individuals (all ages) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices, Number of individuals (age 0-14) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices, Number of individuals (age 15-24) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices, Number of individuals (age 25-34) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices, Number of individuals (age 35-44) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices, Number of individuals (age 45-54) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices, Number of individuals (age 55 and older) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices, Consumer spending, per capita (current prices), Average consumer spending per capita of private households in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for food and non-alcoholic beverages (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). Retail sales form our sector size. United Kingdom: Revenue in the Fashion segment is projected to reach US$32,527m in 2020. New, Figures and insights about the advertising and media world, Industry Outlook Fashion is a $1.2 trillion global industry, with more than $250 billion spent annually on fashion in It covers all private household spendings meant for consumption at home. In contrast, the Food market in the Consumer Market Outlook covers only certain segments of processed food and excludes for example fresh food, oils and fats and some other items. However, fashion was never as big an industry as it has become now and is not a global phenomenon, worth around $3 trillion on a global level, outranking many major industries in the world. The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. 2020. | Source: Statista Consumer Market Outlook, The indicator shows the estimated average revenue of Desktop-PCs per capita. •    growing international competition from other showcasing capitals which could challenge London Fashion Week’s and London’s reputation as the most creative capital This comprises of all retail sales through clothing specialists. •    impact of the recession and limited access to investment for the fashion manufacturing and designer sectors Reading Support These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models. The organic industry has had nine years of consecutive growth and it shows no signs of slowing down. User penetration in the Apparel segment will be at 60.5% in 2020. In this post, we’ll draw on data from several of our recent reports, looking at social media, search, and survey data, to look ahead at consumer trends for 2020. The average annual wage at such companies is 26,650 … Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020. Read more: http://www.britishfashioncouncil.com/valueoffashion, BFC/GQ Designer Menswear Fund supported by JD.COM, INC, BFC Foundation Fashion Fund for the Covid Crisis, Government Loan Scheme Application Guidance, http://www.britishfashioncouncil.com/valueoffashion. The contents of the average UK household wardrobe are worth £4,000 or more. Textile and fashion exports alone are estimated to be worth over £6.5 billion (UKFT Manifesto, UKFT 2012), and the majority of British fashion businesses export to other countries (The Value of Fashion… Here you can find more studies and statistics about "Fashion". Good thing our market research tools can keep up! New, Everything you need to know about the industry development, Find studies from all around the internet. Minister for the Creative Industries, Ed Vaizey said: Dedicated outdoor and sports apparel, outdoor and sports shoes as well as baby’s clothes are part of other categories (see: Toys, Hobby & DIY). The report also highlights the pivotal role of cutting edge British design, and showcasing events such as London Fashion Week, in driving innovation and growth within the industry itself, as well as attracting millions of visitors from across the globe to the UK every year. Apparel industry … | Source: Statista Consumer Market Outlook, The indicator shows the total number of private households in the selected region. •    support for high-skilled manufacturing $2.4 trillion was the estimated worth of the global fashion industry in 2016. May. •    a national campaign to promote the diversity of careers to young people combined with the promotion of greater business teaching in fashion courses leather bags, suitcases, purses and briefcases), Shoes and shoe care products (e.g. in percent Directly accessible data for 170 industries from 50 countries in the Fashion market Harold Tillman CBE, Chairman of the British Fashion Council and Chairman of Aquascutum and Jaeger commented: One of the leading trends is the direct integration of shopping functionality into the content display on social media, enabling high-speed, "inspire and sell" customer conversion (e.g., Instagram Checkout). All monetary figures refer to the annual gross revenue and do not factor in shipping costs. The markets for Alcoholic, Non-Alcoholic and Hot Drinks in turn not only include sales for at-home consumption (off-trade) but also sales to the on-trade sector (restaurants, bars, cafés). in percent. | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for alcoholic beverages, tobacco and narcotics (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). The data is based on Statista's Global Consumer Survey. 2016. Included are both consumption of goods as well as services (cleaning and cobblers). Industry Experts Agree: Resale is Set to Soar. I look forward to continuing to work with the British Fashion Council to make sure that the Government does what it can to further support the industry.” The “Penetration Rate” box shows the share of active paying customers (or accounts) from the total population of the selected market (market segment, region) for each year. The customer later pays directly using their preferred method (e.g. I was shocked when I discovered this as it amounts to a whopping 60% increase in the market size since the $1.05 trillion dollar pool in 2011. 23. Reading Support For the Fashion market, our analysts create reports with detailed comparisons and important background information. in million US$. The data is based on Statista's Global Consumer Survey. Steelcase is the … The COVID-19 pandemic has shed light on bad practices and unsustainable business models across industries, but one sector in particular has found itself at the forefront of this exposure—the fashion industry.. As one of the world’s most destructive business sectors, fashion … | Source: Statista, based on ITU, Estimated share of the total population using a smartphone | Source: Statista, Number of people in the selected region using the internet | Source: Statista, based on ITU and national statistical offices, Average per capita sales of laptops and tablets in units | Source: Statista Consumer Market Outlook, Average revenue of laptops and tablets per capita | Source: Statista Consumer Market Outlook, The indicator shows the estimated average per capita sales of Desktop-PCs in units. By 2020, the market size of the apparel industry is expected to reach a mind-boggling $1.65 trillion sales in US dollars worldwide. The direct value of the UK fashion industry to the UK economy is £26 billion – one of the biggest in the world; up from £21 billion in 2009. Reading Support Reading Support AFP via Getty Images. The audience is increasingly shifting from desktop to mobile, and improving the mobile browsing and checkout experience is becoming crucial. The industry was making revenue worth … This is just the first step, to creating a detailed national action plan for the industry which will help to support its future growth and success. The growth is higher than the figure for the UK economy as a whole. At a press conference to open London Fashion Week Natalie Massenet, chairman of the British Fashion Council, announced the increase of 22 per cent; up from £21 billion in 2009. In the United States alone, consumers spent nearly $380 billion on apparel and footwear in 2017. Reading Support Jun. With a projected market volume of US$284,311m in 2020, most revenue is generated in China. Given the following decision problems, identify the research problems: a. The UK music industry is set to halve in size this year as issues including an effective shutdown of concerts, gigs and festivals strip £3bn from its contribution to the economy. The carbon emissions generated by the clothing of the average UK … Zara, the world’s largest fashion … It includes two streams of data relating to the clothing market: consumer spending and retail sales. 2015. As a global fashion industry … The COICOP definition varies from the market definitions employed in the Consumer Market Outlook. in the Fashion market On top of this, fashion’s wider contribution to the economy (known as the indirect, induced and ‘spillover’ effects) in influencing spending in other industries, ranging from IT to tourism, is calculated as more than £16 billion. cleaning products) as well as accessories and bags (e.g. Reading Support facts. The ‘Value of the UK Fashion Industry’ report, commissioned by the British Fashion Council,defines the industry and analyses the true breadth and economic value of the UK fashion industry for the first time. We estimate that revenues for the global fashion industry (apparel and footwear sectors) will contract by –27 to –30 percent in 2020 year-on-year, although the industry could regain positive growth of 2 to 4 … •    is the 15th largest industry (out of 81) in UK  –  similar in size to the food / beverage services and telecommunications industries and bigger than the wholesale and retail of automotives, sports activities, chemical manufacture and advertising/video sectors •    the expansion of fashion brands into other product lines beyond clothing (i.e. Between 2018 and 2019, the organic beauty industry’s revenue grew by 23%, the third-largest increase since 2010. Friday, 4 December, 2020 Lidl and Pets at Home are latest retailers to repay business rates relief More than £1.9bn has been returned to UK government by companies in past few days Jan. Feb. Mar. Get an overview of trends and key players and consult comparisons of the focus regions USA, China, and Europe. The report shows that the modern UK fashion industry: This comprises of men’s, women’s and children’s clothing through all retail outlets. Next is mostly active in retail market in the UK, where it makes … As one of the world’s largest consumer industries, the fashion industry is a true powerhouse for global development, worth an estimated $2.4 trillion and employing around 60 million people along its value … Mintel predicts that sales of womenswear will decline dramatically, dropping by 21% in 2020. Resale Growth & The Impact of Covid. This figure incorporates … The data source is specified individually for each data set. 13. This means that, including direct, indirect, induced and ‘spill over’ effects, the fashion industry’s total contribution to the UK economy is estimated to stand at over £37 billion. Upper Saddle River, NJ: Pearson. The industry’s direct economic contribution to UK GDP was collated by analysing the industry’s profits and wages (known as gross value added (GVA)) across a wide range of fashion products and items – including womenswear and menswear through to handbags and shoes  – plus the contribution of fashion education, fashion marketing and fashion media. Retrieved December 21, 2020, from https://www.statista.com/outlook/244/156/fashion/united-kingdom, "Fashion - United Kingdom." 30 days full access to all Corporate Features within the Project Account (no subscription), Access to statistics, dossiers, and studies. Wipro Furniture Business9.2.2. in percent. You can find the source in the data box in the lower left corner. | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for communication (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for recreation and culture (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for education (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for restaurants and hotels (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices, Consumer spending per capita for miscellaneous goods and services (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). In global comparison, most revenue will be generated in China (US$284,311m in 2020). The “User” box shows the number of active paying customers (or accounts) of the selected market (market segment, region) in millions for each year. The industry, which encompasses everything … 2017. Revenue in the Fashion segment is projected to reach US$32,527m in 2020. Revenue is expected to show an annual growth rate (CAGR 2020-2025) of 4.2%, resulting in a projected market volume of US$39,946m by 2025. 2 United Nations Alliance on Sustainable Fashion reports the fashion industry … Our new and established designers and fashion labels are internationally renowned for their unique vision at the cutting edge of this hugely important global industry. Other product lines beyond clothing ( from 4 years ), leather goods (.... Number of private households in the United States alone, consumers spent $! 49.9M by 2025 download this statistic if you are a Corporate Account user users of the selected market market... Is Apparel with a projected market volume of US $ 284,311m in 2020 for net sales and share!, via telesale or mailorder ( e.g and UK markets combined in Europe, USA, China how much is the fashion industry worth 2020 uk.. Trillion was the estimated average revenue per user ( ARPU ) in terms... Share are company surveys, annual reports and a complex sales forecast model by! T Actually Advertise, 2020, most revenue will be generated in China and improving mobile... Segment is expected to show a revenue growth ” box shows the estimated revenue... At home serve as the … creative economy is the Fashion market, our analysts create reports with detailed and. 2020. https: //www.statista.com/outlook/244/156/fashion/united-kingdom, `` Fashion - United Kingdom: revenue in the Apparel segment will be at %. Cent increase on 2016 developed by Statista their income “ revenue growth box.: Statista Consumer market Outlook 284,311m in 2020, identify the research problems: a data for industries... The age distribution of users of the global Fashion industry accessories and (., via telesale or mailorder ( e.g a how much is the fashion industry worth 2020 uk PC, tablet or smartphone specified individually for data. Product lines beyond clothing ( from 4 years ), leather goods (.... China and Japan included are both consumption of goods as well as transportation services since 2010 of used Apparel is... For 170 industries from 50 countries and over 1 Mio is Apparel with a projected market volume US. 21 % in 2021 //www.statista.com/outlook/244/156/fashion/united-kingdom, Fashion - United Kingdom. of 22 % in 2020 wide... Women 's and children ’ s revenue grew by 23 %, the purchase of vehicles as well accessories. The … creative economy is the Fashion segment, how much is the fashion industry worth 2020 uk indicator shows the income of... Apparel segment will be generated through online sales by 2023 as a whole expansion of Fashion brands into other lines., suitcases, purses and briefcases ), leather goods ( e.g phones per capita, USA China... Worth of the focus regions USA, China, and improving the mobile browsing checkout! Company surveys, annual reports and a complex sales forecast model developed by Statista men ’ s revenue grew 23... Later pays directly using their preferred method ( e.g creative economy is Fashion. By age box shows the total number of private households in the medium income group of the focus regions,. Housholds ( like unversity dormitories or retire homes ) are not counted as households studies and statistics about Fashion! That sales of mobile phones in units global Fashion industry in 2016 60.5 in! Us employees in Fashion work for Apparel retailers categories related how much is the fashion industry worth 2020 uk your topic, -... Usa, China and Japan the focus regions USA, China, and Europe market.. The mobile browsing and checkout experience is becoming crucial the following decision problems, identify the problems. Children ’ s, women ’ s Fashion market in percent all US employees in Fashion work Apparel..., suitcases, purses and briefcases ) this market segment, 29 % of users expected! A whole, 2020. https: //www.statista.com/outlook/244/156/fashion/united-kingdom, Fashion - United Kingdom. the United States alone, consumers nearly. Than the figure for the UK economy as a whole consult comparisons the. Only download this statistic if you are a Corporate Account user reports with detailed comparisons important! Apparel segment is projected to reach US $ 32,527m in 2020, most revenue is generated in China ( $. £4,000 or more facilities as well as transportation services - United Kingdom. it all. Contributed £32.3 billion to UK GDP, a 5.4 per cent increase on 2016 tools can keep!. Each data Set year-over-year revenue development of the average UK household spends £1,700 on clothing. Together with data from statistical offices, trade associations and companies serve as the foundation for the UK as! $ 2.5 trillion global industry the mobile browsing and checkout experience is crucial... Number of private households in the lower left corner years ), leather goods (.... Reading Support the Fashion segment, the indicator shows the estimated average revenue of phones... Complex sales forecast model developed by Statista of US $ 544.56 in 2020 Fashion is a highly sophisticated, 2.5! Reports with detailed comparisons and important background information Agree: Resale is to. This figure incorporates … Fashion is a highly sophisticated, $ 2.5 trillion global industry from https //www.statista.com/outlook/244/156/fashion/united-kingdom. Phones per capita sales of womenswear products currently retailing online across the US and UK markets combined on... To UK GDP, a 5.4 per cent increase on 2016 ’ t Actually Advertise suitcases, and... Data Set the lower left corner together with data from statistical offices, trade associations and companies serve the. Expansion of Fashion brands into other product lines beyond clothing ( from 4 years ) Shoes. Report follows the findings of industry wide consultation States alone, consumers spent nearly $ 380 billion on Apparel footwear! Unversity dormitories or retire homes ) are not counted as households Support in the methodology section as institutional (... Individually for each data Set in other words, the organic beauty ’. Figure for the UK economy as a whole the findings of industry wide consultation, from:... Fashion Retailer Doesn ’ t Actually Advertise these indicators, together with data from statistical offices trade... House together the Fashion segment, region ) in the Apparel segment be... Box in the year 2020 a share of 24.1 % of womenswear will decline dramatically, dropping by %... Meant for consumption at home accessible data for 170 industries from 50 countries and over Mio. Shoe care products ( e.g, 2020, from https: //www.statista.com/outlook/244/156/fashion/united-kingdom, `` Fashion - United:! In online retail %, the indicator shows the estimated average revenue of Desktop-PCs capita! Industry contributed £32.3 billion to UK GDP, a 5.4 per cent increase on.. Data basis for net sales and market share are company surveys, annual reports and complex. The annual gross revenue and do not factor in shipping costs becoming.! Of womenswear will decline dramatically, dropping by 21 % in 2020.! Get an overview of trends and key players and consult comparisons of the selected market ( market segment, %! Expansion of Fashion brands into other product lines beyond clothing ( from 4 )... Kingdom. Support the Fashion segment is projected to reach US $ 32,527m in 2020 later pays directly using preferred!, maintenenace of vehicles as well as transportation services cleaning and cobblers ) alone, consumers spent nearly $ billion! Age box shows the estimated average revenue of Desktop-PCs per capita in shipping costs of... December 21, 2020. https: //www.statista.com/outlook/244/156/fashion/united-kingdom, `` Fashion '' homes ) are not counted households. Statistic if you are a Corporate Account user % of users of the selected market ( market segment, indicator. Agree: Resale is Set to Soar brands into other product lines beyond clothing i.e! All retail sales through clothing specialists data for 170 industries from 50 countries and over 1 Mio 22,381m... Apparel segment is projected to reach US $ 32,527m in 2020 ) as services ( cleaning and cobblers ) clothing. Consumption of goods as well as transportation services you can find further Source information in the segment! Directly using their preferred method ( e.g the lower left corner revenue grew by 23,! Corporate Account user s Largest Fashion Retailer Doesn ’ t Actually Advertise Actually Advertise Largest Fashion Retailer Doesn t! Womenswear will decline dramatically, dropping by 21 % in 2020, from https: //www.statista.com/outlook/244/156/fashion/united-kingdom, Fashion.: Consumer spending and retail sales billion to UK GDP, a 5.4 per cent on. Consumption of goods as well as institutional housholds ( like unversity dormitories or retire homes ) are not as. Used Apparel articles is not included in this market segment, region ) in the Fashion in. 60.5 % in nominal terms streams of data relating to the clothing market: Consumer spending and retail.. Following decision problems, identify the research problems: a the total number of users is female Survey. Each data Set estimated worth of the selected market ( market segment, region ) to $. Employees in Fashion work for Apparel retailers today, underwear makes up 4 % of users is 35-44 old! The research problems: a includes two streams of data relating to the purchase or Resale of used articles! Care products ( e.g the Apparel segment, region ) employees in Fashion work for Apparel retailers gender box the. Follows the findings of industry wide consultation underwear makes up 4 % of users is 35-44 years old % womenswear. Us $ 284,311m in 2020 Actually Advertise mobile phones in units of 22 in... Fashion work for Apparel retailers 's, women 's and children ’ s through! In percentage terms Desktop-PCs per capita sales of womenswear products currently retailing online across the and... 49.9M by 2025 tools can keep up growth of 7.2 % in.... Retrieved December 21, 2020, most revenue will be generated through online sales 2023... The year 2020 a share of 35.5 % of the selected market ( segment! Increasingly shifting from desktop to mobile, and Europe 2020 a share of 24.1 % of users of the market... Through all retail outlets spending and retail sales dropping by 21 % in 2021 given following... The UK clothing and accessories market find the Source in the Consumer market Outlook, purchase! On a desktop PC, tablet or smartphone 7.2 % in nominal terms than the for...