Three pairs of Jeans will be sold in UK this year every second ! . Why?
Because the demand is increasing in the UK and the total pair of Jeans sold in UK will be around 86 million pairs in 2007 and the total amount spend by Britons on Jeans will be about GBP1.5billion..
What does it mean? It means that:
the per capita sales of Jeans in UK will be around 1.4 .
the average price of Jeans sold in UK will be around GBP 17/-
there will be an increase of about 40% in volume since 2002..
Who is benefitting from this increased demand?
Mainly the Own-label jeans made by the likes of George at Asda, Marks and Spencer and Topshop have seen by far and away the largest increase in sales compared with branded jeans.
Between 2004 and 2006 , the Own-label Jeans sales grew by 41% and accounted for about 24% of the market.
The Jeans market is expected to touch GBP2.1 billion by 2012 as per Miss Ihekweazu of Mintel . She also says “With some jeans costing around the same as a cup of coffee, many more people can afford to have several pairs of jeans.” and hence the increase is further expected.
But will the prices of Jeans keep on going down?
The jeans sales are getting polarised between Discounted Jeans and the High Street Jeans with a very significant difference in prices among them. This polarisation is expected to continue . However, how much lower the prices can go further ? I don’t think it can be too much. ALready the Discounted Jeans are selling at prices which leave hardly anthing for the Manufacturer or Retailer. Asda is selling Jeans at GBP2.99.. It will be really difficult to better these prices..
Anyway, lets stay tuned and watch..
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