The retail market in the United Kingdom (UK) has faced several challenges over the past months and years, with the coronavirus (COVID-19) pandemic, supply chain issues, and more recently, inflation and rising energy and sourcing costs. In 2022,
was estimated to be just under 58.5 billion British pounds, marginally less than in the previous year. However, the market is projected to recover, eventually reaching more than 75 billion British pounds by 2026. Data on different segments in the industry indicated that
UK apparel retail market
In 2022, the value of
clothing retail sales in Great Britain increased by roughly 23 percent. There are many well-known brands and retailers in the UK market, some of which generate billions of pounds in revenue, including high street retailers, such as
Primark and
Next, and online shops, like
ASOS. The
number of specialized clothing retail stores in the UK came to over 12,200 in 2022. This was the highest number since 2008.
Manufacturing & trade
The apparel manufacturing market in the UK has also seen changes in recent years. Despite the
number of apparel manufacturing enterprises actually growing over the last five years, the
annual turnover of apparel manufacturers in the UK has steadily fallen since 2015. The
value of clothing exports from the country fell dramatically in 2021, to just over four billion pounds, with exports to the EU worth less than half as much as the year before. This worsened in 2022, as both EU and non-EU exports fell.
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