Nowadays, fashion is one of the most attractive markets in the world. The actual society revolves around new trends. Few years ago, fashion was a women´s topic, but this falls behind because men are becoming worried in their appearance.
Throughout this report we are going to analyze the men´s clothes market in UK. We will identify the key factors (PEST) influencing thedevelopment of this market. Next, we will study the size, share and the trends of men´s clothes market. Afterwards we will develop a competition analysis and a customer analysis, to understand in depth the developing of this sector. Finally, we will include a mission statement that we consider appropriate.
2. MACRO-ENVIRONMENT AUDIT
The first question that we have to consider about thepolitic is that the European Union is the responsible to plan the rules related with the textile market.
It means the labels have to use the same terms in EU countries. They have shown components of products, which and where they have been produced. (Al-invest4, 2010)
In addition, the majority of the suppliers are non-EU countries because the labor cost and the production cost arelower than other countries. This is the reason why the imports in UK have increased. Because of this, there are tariff barriers for the different textile products and countries. The tariffs are used to avoid the dumping, the imports promoting hence the national textile market.
Finally, the European Union has a plan that controls the chemicals that companies use to produce their textiles, andwhich could be damaging for human health and for environment. (Allwood, 2009)
Nowadays the recession causes a hostile economic climate that has a notable influence on this specific market. Following happenings are the most noteworthy.
* Higher petrol costs and cost-push inflation increases selling prices average.
* Personal disposable income is hit because of rising priceinflation and the recently tax changes. This situation puts pressure on male consumer spending and sales in men's clothing goes down.
* Unemployment, tough job market and austerity measures have moved further away from not essential purchases.
* The pessimistic economic climate in which the country is being enveloped makes the people quite cautious with their spending. UK male customers have tocutting back more on clothing than on almost any other area of expenditure.
* The clothing retail market is expected to grow slightly over the coming years, as consumers recover confidence in the market. (Bharat Book Bureau, 2011)
The main principal groups are:
* Young males aged 15-24: They will drop over the next 3 years. It means bad news for thesector because they are the most fashion-conscious and the most store-loyal; they enjoy shopping for clothes.
* Men 25-34 are forecast to keep growing. This group goes shopping several times a month. They are interested in fashion and they invest in better- quality clothes.
* Men 45-54 are also estimated to grow and also third age and retired people are set to grow at the fastest rateto become key demographics. This group does not like spend much money in fashion clothes they are more worried to replace old spoiled clothes. Therefore, they buy occasionally.
* ABS (educated and working in managerial) will increase by 7.5% by 2015. They buy clothes frequently.
* C1s (Supervisory junior administration) by 3.3%. They buy less expensive itemsbecause it is not worth spending too on clothes as they go out of fashion quickly.
* C2s (skilled manual workers) by 6.7%. They buy in supermarkets.
* DEs (lowest incomes) will decline.
MALE OBESITY ON THE RISE
Nearly a quarter of men are currently obese, according to the Health Survey for England. A third of men projected to be obese or overweight by 2015.