UK Fashion Retail Insights: Top Brands, Categories, and Colors of H1 2024

The United Kingdom is the third largest apparel and footwear market after China and the United States, with the fashion and textile industry contributing an estimated £62bn to the UK economy, according to a 2023 report from UKFT and Oxford Economics.

Despite economic uncertainties, the sector has shown remarkable adaptability, driven by evolving consumer preferences. From the bustling high streets of London to the vibrant online marketplaces, fashion retailers have been navigating a landscape that demands both agility and insight.

Over the past six months, the UK fashion market has seen a surge in demand for certain brands, categories, and colours, reflecting broader societal shifts and emerging trends. Understanding these trends is essential for retailers and brands in the UK looking to stay competitive.

This article will highlight the most in-demand brands, categories, and colours from the first half of the year - providing a comprehensive overview of the UK fashion retail landscape from a demand perspective, powered by Woven Insights.

The Most In-Demand Fashion Brands in the UK (H1 2024)

Between January and June 2024, the most in-demand brands in the UK were:

1. Boohoo (134,125 SKUs replenished)
2. French Connection (4,943 SKUs replenished)
3. Yours (2,927 SKUs replenished)
4. Karl Lagerfield (1,356 SKUs replenished)
5. Quiz (1,350 SKUs replenished)

Using Woven Insights' Market Insights module, we can identify the most in-demand brands using the Replenishment Analysis feature. This feature helps fashion businesses to identify in-demand brands, based on the rate at which their products are being replenished upon selling out.

The Most In-Demand Fashion Categories in the UK (H1 2024)

Between January and June 2024, the most in-demand fashion categories in the UK were:

1. Tops (43,503 SKUs replenished)
2. Bottoms (27,777 SKUs replenished)
3. Dresses (26,356 SKUs replenished)
4. Outerwear (21,088 SKUs replenished)
5. Plus Size (16,898 SKUs replenished)

Using the Replenishment Insights feature, we can easily identify in-demand fashion categories, based on the rate at which products in those categories are being replenished upon selling out.

The Most In-Demand Fashion Colours in the UK (H1 2024)

Between January and June 2024, the most in-demand fashion colours in the UK were:

1. Black (47,178 SKUs replenished)
2. White (15,390 SKUs replenished)
3. Grey (15,356 SKUs replenished)
4. Blue (13,758 SKUs replenished)
5. Green (8,879 SKUs replenished)

Using Woven Insights' Market Insights module, we can identify the most in-demand colours using the Replenishment Analysis feature. This feature helps fashion businesses to identify in-demand colours, based on the rate at which products with those colours are being replenished upon selling out.

Key Takeaways and Insights

Understanding these trends is crucial for fashion retailers aiming to optimize their inventory, tailor their marketing strategies, and meet consumer demand more effectively. Here are the key takeaways and strategic insights from the data:

1. Brand Positioning: Brands like Boohoo and French Connection have shown that staying connected with consumer trends and maintaining a strong online and offline presence is vital. Retailers can learn from these brands' strategies to enhance their market positioning.
2. Category Focus: With tops, bottoms, and dresses showing high replenishment rates, retailers should ensure they have a well-stocked and varied inventory in these categories. Additionally, focusing on outerwear and plus-size options can cater to specific market segments and enhance overall sales.
3. Colour Strategy: Black remains the most popular colour in fashion retail, init? The popularity of black, white, and grey suggests that consumers favour versatile and easy-to-pair colours. Retailers should ensure these colors are well-represented in their collections while also incorporating trending colors like blue and green to add variety and freshness.
4. Data-Driven Decisions: Leveraging tools like Woven Insights allows retailers to make informed decisions based on real-time fashion retail market and consumer insights. This proactive approach can lead to better inventory management, reduced stockouts, increased customer satisfaction, and revenue growth.

Future Outlook

As we move into the second half of 2024, staying informed about market trends will be more important than ever. The Apparel market in the United Kingdom is projected to generate a revenue of US$85.85bn in 2024, with Women's Apparel expected to hold the largest market volume at US$47.02bn.

The winning fashion businesses are those who will continually monitor consumer behaviour, adapt to emerging trends, and leverage data-driven insights to refine their strategies. By doing so, they can not only meet but exceed consumer expectations, ensuring sustained growth and success in the competitive fashion retail market.

Woven Insights provides the resources necessary for this continuous adaptation, empowering retailers to navigate the complexities of the market with confidence and precision. Sign up for a demo today.