Fast Fashion Flies Off The Shelves
Written by TNS
12 Apr 2005
Sales of adults’ “fast fashion” clothing have grown an astonishing 11%
in an otherwise subdued retail market.? According to the latest
industry figures from FashionTrak, a division of market information
specialist TNS, total clothing sales were up just 2% in the latest
season, illustrating how impressive the fast fashion growth is.?
Double-digit growth for fast fashion has been sustained across both
Menswear and Womenswear over the last two years, far out-performing the
clothing and footwear market as a whole.?? The fast fashion
market is primarily
driven by the Under 25’s, who account for a third of all expenditure in
this sector, with 90% of their sales going to the High Street.?
Interestingly, fast fashion is increasingly appealing to a more mature
market as the Discounters
and Supermarkets broaden the availability of low-cost, high fashion to outlets visited by this age group.
Fiona Bell, business director of TNS FashionTrak, said: “Across the
market, one-third of all clothing and footwear is sold at a markdown
price.? However,? fast fashion is flying off the shelf at
opening prices, reducing the pressure on
retailers to discount in order to shift stock.? Only 19% of fast
fashion is being discounted and in fact, prices are now rising in this
sector against a backdrop of falling prices elsewhere.”
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Last Updated ( 03 Aug 2005 )