Introduction
The global retail industry will reach sales of up to $22.049 trillion in 2016, which
is a 6.0% increase from the previous year. It is estimated that sales will increase
to $27 trillion in 2020. (eMarketer, 2016) The direct value of the UK fashion
industry to the UK economy is £26 billion; up from £21 billion in 2009. Showing
an increase of 22% in nominal terms (Oxford Economics, 2014). Within the retail
industry there are five main sectors, these are Haute Couture, Designer,
High End High Street, Mass Market and Value Market. The researcher will be
focusing on issues and topics relating to the High End High Street sector.
High end high street fashion refers to high quality products sold on the
high streets at affordable prices. These products are not necessarily
sold in mass quantities which therefore gives them a more unique appeal to
consumers. The high end high street sector of the fashion industry acts
as the bridge between luxury and affordability. Consumers are able
to purchase a high quality item of clothing with a designer feel to it,
without the designer price tag. The High end high street brands the
researcher will be referring to are Whistles, Ted Baker, COS, and All Saints.
There is big money in the High End High Street sector with brands such as
All Saints reporting a revenue of £230m in 2015 (Chan et al., 2016) and Ted
Baker reporting a revenue of £387.6m in 2015. (tedbaker plc, 2015)
High end high street brands originated in the 70s when a gap in the market was
identified. The arrival of the high end street and its efforts to sell more
luxury feel fabrics means that the lines are becoming blurred and along
with it could be the prospect of a new age for British retail. In a time of
recession, consumers were looking for a realistic way to stay in touch
with luxury, they now want more from their clothing; they want
luxury without the expense. The high street needed to adapt to this by
prioritising quality over the demand for cheap, quick labour to produce clothing.
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