Reading Support 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. For the Fashion market, our analysts create reports with detailed comparisons and important background information. The direct value of the UK fashion industry to the UK economy is nearly £21 billion according to a major new research study released today. The research highlights the huge breadth and scope of the UK fashion industry today, highlighting how it encompasses a wide range of professions – from fashion designers, through to manufacturers, fashion retailers, magazine publishers, journalists, fashion marketeers, course lecturers and business managers. in million US$ in the Fashion market Resale Growth & The Impact of Covid. The fashion industry is constantly changing. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Accessed December 21, 2020. https://www.statista.com/outlook/244/156/fashion/united-kingdom, Fashion - United Kingdom. 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. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: (Core country: data based on in-depth analysis), in the Fashion market It includes two streams of data relating to the clothing market: consumer spending and retail sales. Reading Support It includes spending on nonclothing … These include personal care products and services, personal items like watches and jewellery as well as all other products and services not mentioned elsewhere. A boarded up Macy's store, New York, June 8, 2020. cleaning products) as well as accessories and bags (e.g. 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. •    impact of the recession and limited access to investment for the fashion manufacturing and designer sectors 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 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. 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). in the Fashion market I am committed to driving this forward and to ensuring that we come together as an industry to work with Government to discuss forthcoming challenges and agree the support required to overcome them. •    the expansion of fashion brands into other product lines beyond clothing (i.e. •    has some of the best fashion colleges, designers and retailers in the world I delved into the annual The State of Fashion 2021 Report with heightened anticipation after a year of global health … 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. The study concludes by citing activities that would help ensure the future growth and success of the industry including: From historic fashion houses huge donations to fashion weeks going digital, this is how the fashion industry is reacting to the Covid-19 pandemic 12/05/2020 Christian Vierig Getty Images In the Fashion segment, 29% of total market revenue will be generated through online sales by 2023. In the United States alone, consumers spent nearly $380 billion on apparel and footwear in 2017. 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. 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. Jan. Feb. Mar. 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. 2020. Factors behind the growth of the fashion industry cited in the report include: | 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. creative economy is the fashion industry. Next is mostly active in retail market in the UK, where it makes … Fashion is a $1.2 trillion global industry, with more than $250 billion spent annually on fashion in Reading Support The Users by income box shows the income distribution of users of the selected market (market segment, region) in tertiles. 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