UK womenswear sales predicted to hit £27bn in 2015
Womenswear sales in the UK are predicted to reach £27bn this year, according to market research firm Mintel, which has released a number of statistics for LFW SS16. That's a 4% increase from the £25.95bn seen in 2014.
Men's and women's footwear sales will reach £10.3bn, up 6.5%. By 2019, womenswear sales are forecast to hit £32bn. In 2015, 67% of women have bought clothes online, up from 65% last year. There has been a 17% increase in online footwear sales, the largest increase in sales across the industry, and online now takes up a 3.8% share of the UK footwear market.
The percentage of women over 55 buying clothes online has risen by 8% year-on-year to 59%.
Last year, the British fashion industry contributed £26bn to the UK economy, and £10.7bn was spent on fashion online. This is expected to rise to £19bn by 2019. In the last year, 60 fashion start-ups have been created in London.
The upcoming London Fashion Week will feature 78 designers; 52 catwalk shows and 26 presentations.
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