Definition Of
The Mass Market
The global retail market is forecast
to increase to a value of £13.5
trillion ($19.4 trillion, €17 trillion)
in 2016, a 6.9% rise from 2015 (Smith
and Thiruchelvam, 2016), within the
mass market is an important the
UK sector alone makes up a £56
billion Market value (Strijbos, 2016).
The definition of the mass market
retailer is a company selling
affordably priced products to a
wide variety of consumers, they
are not known for thigh quality or
exceptional customer service but
do meet consumers high demand.
The mass market includes retail
giants like Zara who is renowned
for its ability to develop a new
product and get it to stores within
six weeks, while other retailers
take six months, which is what
makes them so successful in our
consumer driven society. This might
be why they had a 26% profit rise in
2015 and H&M, there top competition,
only had a rise of 18% (Association,
Page 3.
2015). Other than the fact both
these brands had a profit rise, they
also have brought out sustainable
clothing ranges, but because they
are bringing out so many items so
quickly is it actually possible for
them to be sustainable as a brand.
Other mass market brands such as
Accessorize/Monsoon chain, also
claim to be sustainable, however
they have not been reaping the
benefits of globalisation, their
sales have slipped over the last few
years by 18% (Butler, 2015), meaning
this was a “challenging year” for
Peter Simon who privately owns
the chain. Is this loss on sales due
to the fact these brands are trying
to be more sustainable and are
providing clothing which lasts
longer because it’s better quality,
in this fast fashion world we live
in are they trying to change our
attitudes and bring us back to slow
fashion and value our clothing
more?