Nina Jobst
Research expert covering South Korea
Apparel market in the United Kingdom (UK) - statistics & facts
Despite facing a few turbulent years due to inflation and rising energy and sourcing costs, the British fashion retail market has been gradually recovering over the past few months. In 2023, revenue was estimated to reach 64.5 billion British pounds, marking an increase of over eight billion compared to the year prior. Better yet, the market is project to grow even further, eventually reaching nearly 79 billion British pounds by 2029. Data on different segments in the industry indicated that women's apparel generates far higher revenues than the men's and children's apparel segments.
There are many well-known brands and retailers in the UK market, some of which generate billions of pounds in revenue. Big names include high street retailers, such as Primark and Next, and online shops, like ASOS.
The apparel industry in the United Kingdom has shown resilience and adaptability in the face of economic uncertainties. With continued efforts made towards sustainability and taking consumers’ wishes into account, the fashion sector has set itself up for further growth.
UK apparel retail market
In 2023, the value of clothing retail sales in Great Britain increased by roughly seven percent. When it comes to places of purchase, British households prefer to shop from outlets as opposed to clothing and supermarket chains. On average, expenditure on clothing and footwear at outlets reached just over 10 British pounds per week.There are many well-known brands and retailers in the UK market, some of which generate billions of pounds in revenue. Big names include high street retailers, such as Primark and Next, and online shops, like ASOS.
Manufacturing & trade
The apparel manufacturing market in the UK has also seen changes in recent years. Despite annual turnover of apparel and footwear wholesalers actually growing over the last three years, the annual sales from manufacturers of wearing apparel had fallen in 2023. The value of clothing exports from the country also fell dramatically in 2021, to just over four billion pounds, with exports to the EU worth less than half as much as the year before. This downward trend continued throughout 2023, as both EU and non-EU exports fell.The apparel industry in the United Kingdom has shown resilience and adaptability in the face of economic uncertainties. With continued efforts made towards sustainability and taking consumers’ wishes into account, the fashion sector has set itself up for further growth.
