Clive Black, deputy chairman and head of consumer research at Shore Capital Markets, suggests that the UK’s cold and wet start to the autumn/winter 2024 season will boost apparel retail sales.
The UK’s wet weather is expected to boost the UK’s online fashion retail channel. Image courtesy of Shutterstock.
Shore Capital Markets’ Clive Black said the “reasonable” early autumn weather should support demand for boots, caps, hats and overcoats.
“We see this as a welcome situation for companies like Marks & Spencer, which entered the market at the end of the first half of 2019 and are gaining market share in the UK,” he said. This should also be a positive for a strong company like Mark.”
He added that the wet weather could also provide a “boost” to the UK’s online sales channels, given consumers’ reduced appetite for going out.
Black explained that the online channel will “get a little bit stronger in 2024”, benefiting omnichannel retailers and supporting “struggling” online operators such as ASOS and Boohoo. .
He noted that the UK’s weather is a “relevant factor” influencing demand for clothing and footwear, with varying degrees of influence throughout the year. “In fact, the UK weather pattern will undoubtedly be linked to the performance of apparel businesses in 2023-2024. Especially for brands that have ceded market share to others, the hot spring and early summer of 2023 comes to mind. This was a relatively tough headwind for the industry as a whole amidst a tough 2024. On the other hand, after last year’s tough December and December, summer is back and the fall/winter season is just starting. The heat wave continued.”
The British Retail Consortium (BRC)’s Consumer Confidence Monitor for December 2024 highlighted that the public’s expectations about their personal finances, economic situation and savings have all deteriorated since January.
Consumer confidence has fallen significantly in the UK as concerns about the economic outlook rise ahead of the autumn budget announcement, according to a survey. But despite these concerns, retail spending has remained stable.
from source just style
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