Fashion sales in seven-year low
The British fashion market has witnessed its steepest decline in sales since 2009, according to new data. Figures from Kantar Worldpanel covering the year to September 25 show that the sector, which encompasses clothing, footwear and accessories, has seen four months of consecutive sales decline.
Almost £700m has been lost from the value of the market compared to last year, Kantar added.
The research group's consumer insight director Glen Tooke said: "Fashion retailers are still following the same patterns of over-buying and deep discounting and consumers are increasingly reluctant to pay full price.
"Retailers have responded to falling sales by investing less in their lines, when what they need to be doing instead is addressing these problems more proactively."