Clothing and footwear: MC retailers under threat from pureplays
Clothing and footwear spend via pureplays is set to soar 67.4% over the next five years, hitting £7.5 billion in 2023, according to GlobalData.
Sofie Willmott, Senior Retail Analyst for GlobalData, comments “Although multi-channel retailers dominate online clothing and footwear spending, they are under threat from online pureplays that are continually evolving their proposition to offer a best in class shopping experience.”
Alongside major players, Asos and Amazon, which together account for over 40% of clothing and footwear spend via pureplays, there are plenty of new ventures vying for share of the market. PrettyLittleThing’s brand awareness, and in turn revenue, has rocketed in recent years with the company set to overtake its sister brand boohoo.com in 2018, making it the fourth largest online-only retailer in this space.
Willmott concludes: “In order for multi-channel retailers to attract online shoppers, they must ensure the experience they offer matches up to those of online pureplays including fast, low cost and a wide choice of fulfilment options and features that make purchasing clothing and footwear online enjoyable and easy.”
