Next plc: share of clothing market in the United Kingdom (UK) 2007-2018
Next plc’s share in the UK clothing market sank below 7 percent in 2018, which was a first for the fashion retailer in the last 10 years. The brand had it particularly good between 2014 and 2016 when sales figures soared in this period.
The future is not so bright for Next
In the women’s clothing category, Next is one of the most popular brands among UK consumers, yet the retailer’s most recent financial performance might be a cause for distress. In the financial year 2018/2019, Next drastically cut back the number of stores it operated after a drop in sales and profit. This represents a major slump in the company’s performance in the last decade.
Online almost overrides retail sales
The decreasing footfall to Next stores and the ensuing closures are not the only troubles, though. While Next experienced a decline in retail sales, its online sales delivered only impressive results. Since 2009, Next e-commerce sales doubled and caught up with the retailer’s store sales.
The future is not so bright for Next
In the women’s clothing category, Next is one of the most popular brands among UK consumers, yet the retailer’s most recent financial performance might be a cause for distress. In the financial year 2018/2019, Next drastically cut back the number of stores it operated after a drop in sales and profit. This represents a major slump in the company’s performance in the last decade.
Online almost overrides retail sales
The decreasing footfall to Next stores and the ensuing closures are not the only troubles, though. While Next experienced a decline in retail sales, its online sales delivered only impressive results. Since 2009, Next e-commerce sales doubled and caught up with the retailer’s store sales.
