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A survey asking UK respondents to measure the proportion of their clothing coming from second-hand (lowest cost) to designer (highest cost) retailers found that ** percent of their clothing originated from low-cost retailers such as Primark and Matalan. Low-cost retailers (such as Primark and Matalan) and medium-cost retailers (such as NEXT and Gap) accounted for a combined proportion of ** percent of clothing ownership. Only *** percent of UK respondents stated having owned designer brands such as Gucci or Stella McCartney.

Annual revenue of NEXT in the UK

Fashion brands like Next might be a favorite with UK consumers, but in recent years the retailer’s finances have been on the rocks. In 2020, annual profits of the UK-based medium-cost retailer NEXT were estimated at approximately **** billion British pounds. Although this was an increase from two years prior, it was also a reflection of the declining physical store numbers of the retailer both in the UK and Ireland.

Value of the clothing market in the UK

Other research shows that out of ten European countries, the UK’s current and future clothing market has the second highest value, following Germany. In 2022, it is projected that the UK’s clothing market value will reach **** million U.S. dollars, which would make Germany’s estimated clothing market value only *** million US dollars higher. Over the next two years, it is projected that Germany’s clothing market value will decrease, whereas the UK’s is expected to increase. However, the UK’s clothing market value in 2020 took a huge blow to the coronavirus pandemic and so it is estimated that there will only be a **** percent increase in revenue.