one of the fashion and apparel retail winners of the 2022 Christmas holiday season in the United Kingdom (UK) was Fat Face. In the fourth quarter of the year, the high street chain experienced a like-for-like sales growth of 47 percent compared to the previous year. Other high street fashion retailers like Primark and Seasalt also had a postive sales growth in this period. While this growth is a postive sign, it is largely a result of the low figures in previous years as a result of the coronavirus (COVID-19) pandemic.
Will Christmas spending move online?
More data shows that store-based retail is reclaiming some territory it lost to online sales during the COVID-19 pandemic. In 2022 it was estimated that online sales during the Christmas season in the UK would total just over 30 billion pounds, compared to more than 52 billion pounds of store-based sales. Total spending was estimated to fall compared to 2021, but online spending fell by more than store-based spending.
Boohoo is here to stay
Boohoo’s saw a drop of 11 percent in Christmas sales in 2022 compared to 2021. However, The fashion retailer delivered exceptional financial results in the past few years, more than tripling its profits since 2017/18. Founded in 2006, the retailer is relatively new, but already a favorite especially with Gen Z and Millennial shoppers. The company’s other brands, PrettyLittleThing and Nasty Gal, are growing extremely popular online as well, with the former ranked as one of the leading fashion and beauty shopping apps in the UK in 2022.
Like-for-like sales growth of clothing and apparel retailers during the Christmas period in the United Kingdom (UK) in 2022 compared to 2021
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Retail Week. (January 31, 2023). Like-for-like sales growth of clothing and apparel retailers during the Christmas period in the United Kingdom (UK) in 2022 compared to 2021 [Graph]. In Statista. Retrieved November 23, 2024, from https://www.statista.com/statistics/1094409/like-for-like-sales-growth-of-retailers-during-christmas-in-the-uk/
Retail Week. "Like-for-like sales growth of clothing and apparel retailers during the Christmas period in the United Kingdom (UK) in 2022 compared to 2021." Chart. January 31, 2023. Statista. Accessed November 23, 2024. https://www.statista.com/statistics/1094409/like-for-like-sales-growth-of-retailers-during-christmas-in-the-uk/
Retail Week. (2023). Like-for-like sales growth of clothing and apparel retailers during the Christmas period in the United Kingdom (UK) in 2022 compared to 2021. Statista. Statista Inc.. Accessed: November 23, 2024. https://www.statista.com/statistics/1094409/like-for-like-sales-growth-of-retailers-during-christmas-in-the-uk/
Retail Week. "Like-for-like Sales Growth of Clothing and Apparel Retailers during The Christmas Period in The United Kingdom (Uk) in 2022 Compared to 2021." Statista, Statista Inc., 31 Jan 2023, https://www.statista.com/statistics/1094409/like-for-like-sales-growth-of-retailers-during-christmas-in-the-uk/
Retail Week, Like-for-like sales growth of clothing and apparel retailers during the Christmas period in the United Kingdom (UK) in 2022 compared to 2021 Statista, https://www.statista.com/statistics/1094409/like-for-like-sales-growth-of-retailers-during-christmas-in-the-uk/ (last visited November 23, 2024)
Like-for-like sales growth of clothing and apparel retailers during the Christmas period in the United Kingdom (UK) in 2022 compared to 2021 [Graph], Retail Week, January 31, 2023. [Online]. Available: https://www.statista.com/statistics/1094409/like-for-like-sales-growth-of-retailers-during-christmas-in-the-uk/
