Menswear sales continue to outperform womenswear, new research has shown, as the twelfth edition of London Fashion Week Men’s (LFWM) opened on 8 June.
The UK menswear clothing market grew by 3.5% in 2017 reaching a value of £15bn, according to Mintel, and now accounts for 26% of the total clothing market. The womenswear market is valued at £28.4bn.
Menswear is predicted to grow by a further 11% between 2018 and 2022, and will be valued at £17.1bn in total.
More than half (53%) of men spent £50 or more on their last shopping trip, compared to only 39% of women. Male shoppers (18%) are also significantly more likely than women (12%) to have spent over £100.
Samantha Dover, senior fashion analyst at Mintel said: “Growth in the menswear market has been robust, with an increasing number of retailers focusing their attention on men’s clothing and strengthening this category to boost sales. Not only are retailers looking towards menswear to offset the challenges they face in womenswear, but retailers have realised there are a multitude of untapped opportunities as men become increasingly invested in their personal style.
“However, the increased choice for men has made the market much more competitive and made male shoppers more demanding and less brand-loyal, meaning retailers need to do more to stand out and differentiate their offer. Getting the product assortment right has become even more imperative at a time when it is much easier for consumers to compare products and prices online before buying.”
London Fashion Week Men’s runs from 8 – 11 June and features more than 50 designers.