"The biggest challenge is over stocked market. There are too many new products being introduced and it’s difficult to predict what shoppers will want next month. According to Enrico Ziglio, Founder and Chief Executive of London-based women’s wear labels Sister Jane and Ghospell, womenswear shoppers constantly seek novelty"
The fast-moving women’s wear market is attracting prominent brands/retailers who are employing all tricks in the trade to maintain their exclusivity in this crowded and fast-moving market. One sentiment that dominates the market of late is challenging as difficulties including price-sensitive shoppers and Brexit anxieties are particularly felt in this cramped and competitive world.
Novelty leads to overstocking
The biggest challenge is over stocked market. There are too many new products being introduced and it’s difficult to predict what shoppers will want next month. According to Enrico Ziglio, Founder and Chief Executive of London-based women’s wear labels Sister Jane and Ghospell, womenswear shoppers constantly seek novelty. Consumers in this segment make their purchases only after feeling strongly connected to these brands. They seek new, exciting brands that cater to their unique styles and values, and offer them something that no one else has.”
Flexible approach leads to growth
Market research agency Mintel suggests, the UK women’s wear market is likely to grow 14 per cent between 2018 and 2022 to £33.5bn. The secret to success in this market is a flexible approach by the retailers. As Olivia Cantillon, founder of women’s wear etailer Own the Look, notes, retailers should offer its customers as many opportunities to make a purchase as possible. Shoppers want every touch point they have with a brand or retailer to be worth shopping. They aim to purchase through the social channels.
Two opposing trends are influencing consumer behavior. Affordably priced, trend-driven products are being sought as can be noted from the ongoing success of the Boohoo Group, whose revenue increased by 15 per cent, 74 per cent and 95 per cent at Boohoo, Nasty Gal and PrettyLittleThing respectively in the four months to 31 December. But customers are opting for higher-quality items even if they are expensively priced.
Buyers becoming increasingly aware
Emerging trends like sustainability and decluttering denote the increasing awareness of the shoppers about their purchases. Buyers are opting for authentic designs such as the slip dresses that can worth without anything underneath in the summer and paired with chunky knits or roll necks in the colder months. Customers are buying these even at a premium price. Animal prints across leopard, snake and zebra, continues to be popular. The craze for leopard print has expanded to include a whole safari of animals, including snake and zebra.
Renewed interest in accessories
For spring, the color yellow and the 1970s key trends rule. Neon and synthetic yellow tones have also made a comeback this season with a psychedelic print direction, as the 70s continue to be a source of inspiration. Shoppers are also opting for a sportier look for autumn 19 season.
There is a revived interest in accessories as these help womenswear brands and retailers to drive average transaction values. The trend for embellished hair clips, velvet head bands and hair scarves is likely to last throughout this year. Brands that intend to make a mark in the women’s wear need to give customers a reason to shop with them above all others. They should seek to make fashion more of a part of customer’s lifestyles and really reflect who they are as a person.