Mediaworks white paper: Online retailing key to fashion industry’s success

It has been reported earlier this week that visitor traffic to UK retail stores last month was down nearly 12% year-on-year and down close to 29% in the first week of the month.

According to Ipsos Retail Performance, despite Easter falling in March, footfall failed to pick up over the public holiday and that it was the 11th consecutive month that year-on-year store footfall has declined across the UK.

Photo © Lucia Carpio.

As often the case, the weather had been blamed as the culprit as much part of the nation experienced an unseasonal cold snap with a lot of snow.  But consumers did not need to stop shopping, especially for non-food items, even if they are stranded at home.

According to a recent study by Mediaworks, online retailing has been driving the fashion industry’s success.  Both luxury brands and high street retailers are turning to the online sphere to strengthen their brand.

Estimating that the global worth of fashion is £2.24 trillion, Mediaworks revealed that in 2017, the UK’s online fashion spend jumped to a huge £16.2 billion, while predicting it will increase by a further 79% by 2022.

Through the Fast-paced Fashion: The Digital Forecast 2018 white paper, Mediaworks examine the six key trends expected to impact the industry in 2018 and providing actionable insights for retailers.

First and foremost is Mobile First, as it is imperative for fashion retailers to fully explore and utilise their relationship with customers through their mobile phones.

Another key trend is Journey personalisation, which is essential in focusing on delivering an in-store experience online, as Mediaworks predict that by 2020, customer experience will become the main reason a customer will choose a brand over another, overtaking both cost and product.

Another trend is Voice search, as more voice searches are being carried out than ever before, and retailers need to cater to more conversational search behaviours, and the need to review existing content’s style, format and flow.   MediaWorks also urge retailers to consider implementing visual search, something retailers like John Lewis and Boohoo.com are already experimenting with.

Other trends include Customer Profiling, transitioning from segment-based to signal-based data to gain greater visibility while mindful of data protection and attribution is important for marketing success.

For more information about each of the above, visit digital marketing agency Mediaworks’ website to download the white paper.

Brits hung up on online fashion

Online sales of clothing, fashion accessories and footwear grow by 17% in 2017 - says market intelligence agency Mintel.

As London Fashion Week kicks off today 15th September 2017, it seems that shopping for clothes has never been simpler.   Indeed, the latest research from Mintel reveals that this year Brits are set to spend an impressive £16.2 billion on online sales of clothing, fashion accessories and footwear—at the click of a button.   In 2017, the online fashion market will increase 17.2%, continuing fashion's spot as the most popular category bought online.

Over the past five years, sales of online fashion have soared, doubling in value since 2012. What is more, online sales of fashion have increased to account for 24% of total fashion spend in 2017, up from 17% in 2013. But while online fashion sales continue to show spectacular growth, overall sales of clothing are forecast to grow by just 1.3% in 2017.

Highlighting the popularity of online-only retailers, Mintel research shows the importance which pure plays are having on the clothing and footwear sector, as today they account for approximately 38% of the UK online fashion market.

- UK online fashion sales reach £16.2 billion in 2017.- Online fashion accounts for 24% of total fashion spend in the UK.- 34% of online shoppers have kept unwanted goods due to the hassle involved in returning them.

Over the next five years, the online fashion market will continue to see strong double-digit growth, with the market forecast to increase a further 79% by 2022, reaching just under £29 billion.

Tamara Sender, Senior Fashion Analyst at Mintel, said:
“The strength of the online fashion market stands out as the overall clothing market is struggling, with a continuing shift away from consumers spending their extra money on fashion items to spending more on leisure. The way consumers are shopping for clothes and shoes is changing; there is a buy-now, wear-now mentality and a desire to shop for clothes however and whenever they want, with consumers demanding convenient shopping that fits around their busy lifestyles. Usage and trust in online retailers is still growing. Many of the pure play fashion retailers are still immature businesses and have a degree of novelty value, which is helping to drive sales.”

Images from Mercedes Benz London Fashion Week. by Jonathan Daniel Pryce (Garcon Jon)