Furthermore, over half of overall UK consumers (54%) did not reduce the amount they spent on clothes and around four in ten consumers did not alter their clothes-shopping habits and a dedicated one in ten followers of fashion say they actually spent more on clothes than they usually would, despite the economic difficulties.
Tamara Sender, Senior Fashion Analyst at Mintel, said: “Our love of clothes shopping in Britain seems to have overridden economic concerns and the fact that the clothes industry has continued to increase market value is testament to where clothes buying lies in our priorities. While consumers have cut back on leisure activities such as holidays and eating out, they have continued to spend on clothing and footwear - indicating that they are being selective about what to spend their money on and are choosing to buy clothing over a meal out. It is clear that many people consider clothing to be a ‘treat’ purchase that now forms part of their essential spend, and even during recession, people will splash out on relatively low-ticket items such as clothes to lift their mood.”
Designerwear buyers were the consumers most likely to have spent more on clothes last year, with nearly two in ten of them spending more in 2009 than previously.In addition, over a quarter adults say they are buying more from premium ranges (e.g. Designers at Debenhams, M&S Autograph). Meanwhile, almost one in three consumers invest more in timeless styles instead of the latest trends, demonstrating a move away from fast, disposable fashion and towards garments with lasting appeal.
Indeed, it seems quality rules for fashion forward Brits these days. Just over a quarter of consumers say they are willing to pay more for better-quality clothes that will last longer. While the quality over quantity trend appears to be on the rise, it seems that despite our love of high end fashion, Brits just can’t resist a bargain. According to the survey, nearly half of consumers say that they mostly buy clothes on sale or special offer and over a third that they buy more from value clothing retailers than they did pre-recession.
Mintel’s research also reveals mood is another influence on purchasing power for today’s consumers.A quarter of consumers buy clothes to cheer themselves up when they are having a bad day, and this behaviour is more common among the big spenders in 2009 and/or in the year ahead. Retailers of premium brands should consider ways to put consumers at ease to assist the quarter of consumers who feel intimidated in expensive clothes stores. So ladies, continue to shop till you drop. It's good for you and good for the economy.
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