Our Blog

The UK Fashion Retail Industry

Worth £60.2bn in 2015, the fashion industry grew at a compound annual growth rate of 4.3% during the previous five years but saw a major slowdown in late 2015. In 2016, growth was “exceptionally weak”, with average monthly clothing and footwear sales up 1% for the 10 months ended October 2016. However, For the period ended 31 July 2016, online fashion sales grew by 7.5% year-on-year, while store sales declined by 3% creating expectations for online sales to outperform the market, with growth of 9-10% in 2017. 

The fashion and retail industry is an extremely competitive market that can reap huge rewards. The employment within fashion and fashion related industries within the UK stands at 555,000.  As seen in the pie chart below, most jobs in fashion related industries are in the retail sale of clothing. This sub industry employs 75 percent of all total employees, with 414,000 people working in the retail sale of clothing. The retail and sale of footwear and leather goods further provides a sizable weighting of jobs in the fashion industry, being 11 percent (59,000 jobs). Another 8 percent, 43,000 employers, work in the wholesale of clothing and footwear. 

Read More

The UK Food Industry Analysis

As of 2016 the food service market within the UK was worth a value of £87.2 billion, being up 2.3% in comparison to the 2015 market value. When broken down in to sub-categories the food service industry is valued as follows:

Read More

The E-commerce Market

The online shopping market has witnessed a spike in growth over the period of 2016, with a 16% growth in the UK market. This has been said to have been largely driven by an increase in purchases made from smartphones with a 47% YOY growth from December 2015 through to December 2016, with further expectations of growth throughout 2017. In contrast, sales made on tablets were down 3% YoY. In December, smartphones accounted for 54% of mobile device sales, with tablets accounting for the other 46%. This is a huge uplift on December 2015, when smartphones accounted for 39% of mobile device sales. 

As expected the Christmas period is the bussiest time of year for ecommerce, being defined as running from 13th November through to 24th December. Over this period in 2016 £25 billion was spent online. This was up an impressive 16% on the amount spent in 2015 as consumers continued to shop for presents online.

Further reasons for increased sales online would include, but not limited to:

Read More

Growth of Proptech

According to the office of national statistics, there are 28.1 million residential properties in the UK and in the year to 2016, 1.25 million properties were sold. Assuming an average property price of £287,000, and average commission of 1.5% including vat, this values the current potential fee income across the industry at approximately £4.5 billion.  It has been evidenced that the residential housing market within the UK is of a value of around £5.75 trillion. Of a market of this size, it is found that a staggering 98-99% of all house buyers browse for their housing options online and only a tiny 1-2% within high-street stores. However, the online estate agency market contributes to a rough 5% share of the market. This clearly illustrates that the high-street estate agents still have a clear dominant position within the property market.

Read More

Would you like to start your journey to a successful business with a professional business plan?

Start here