The market trends in the UK clothing industry Coursework

The market trends in the UK clothing industry - Coursework Example This research will begin with the statement that clothing in the UK market is dominant by the large retail stores that provide major sales to this industry. There is generally one influencer in the market that owns the market share in the UK clothing industry, for example, Philip Green owns 12 percent of the UK clothing market. Since the dominance in the clothing market is by the major retail stores hence the prices of quality clothing has increased in the UK which has provided an opportunity to bring in to the market the clothing that is of high quality but at affordable prices. This need for affordability of prices and quality clothing has increased the demand for such products in the UK market. Also because the major retail stores tend to cater to the market for personalized service that too is becoming marginalized. The market trends in the UK clothe industry show a growing trend. As reported that the market for clothes has increased by 10% between years 2004 and 2008. It is also expected that the market will continue to grow in another three years. By the year 2014, it is estimated that the clothing industry would be worth nearly  £8.6 billion experiencing an increase of 29% from the worth of today estimated at being  £6.7 billion. The consumers want quality and value products and thus it’s this trend that is contributing to the growth of the industry. During the time of recession, the market saw a growth of 10% per annum however it is expected that this sector will experience a 21% of growth in the next three years.