Sales of menswear in Western Europe declined over the period 2013-2018, with severe price pressure being the key reason. Of the four region’s largest markets, only the UK saw gains, while Italy saw a particularly sharp decline.
Stagnation in sales in Western Europe
A bounce-back expected in the forecast period
The largest markets generally struggle, hampering regional sales
Italy and Germany see sharp declines in menswear sales
More expensive items fail to generate demand
Men’s tops and jeans not enough to compensate for general decline
Non-store retailing flourishes, buoyed by e-commerce
Apparel and footwear specialist retailers suffer from shopping trends
Fast fashion companies, while seeing some negative coverage in the media, continue to tighten their grip on menswear in Western Europe. The ability to offer a wide range of products at prices that even private label has difficulty matching, coupled with wide networks of stores, delivered strong results. H&M, Zara and Primark were three leading brands in Western Europe in 2018.
Niche brands dominate the news and the blogs but not sales
Purveyors of fast fashion and sportswear in control of the market
Multinationals are increasingly well diversified
Fast fashion in control for now but sportswear brands climb the ranking
Sports oriented brands are well positioned going forward
Besides Nike and adidas, sportswear brands such as Under Armour, the North Face, Patagonia, Arena and Decathlon are clear winners in the current climate. The trend for sports-related apparel is expected to persist, fuelling sales for companies that focus on this category, offering menswear that is comfortable and Instagrammable
Menswear increasingly mimics womens wear's developements
In their efforts to encourage shoppers to spend, online sellers play a role of curators as well as retailers, which is something that physical retailers have not been able to match. Nevertheless, men’s spending on apparel and footwear remains significantly below that of women, despite their often having higher disposable incomes, so there is clearly untapped potential.
Zalando, Asos, Boohoo and countless other e-stores will keep changing the retailing landscape, while store-based apparel and footwear specialist retailers will endeavour to keep consumers interested. Overall, a strong performance in the UK is expected to compensate for further declines in Italy and France.
Key Forecast
UK expected to be the engine of growth over 2018-2023
The industry faces headwinds going forward
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Source : Euromonitor