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There have been no reported administrations since our last update. Quiksilver is the only company to have reported filing for bankruptcy in the US after losing 79% of its market value this year. Its operations outside the US are not part of the Chapter 11 filing. Quiksilver said the global investment lender, Oaktree Capital Management will provide the company with the $175m (£113.73m) it needs to restructure "and fund its ongoing operations in the US and abroad".
Despite online sales recording their weakest month of growth in August since November 2012, a new study from Webloyalty is predicting that by 2019, annual shopping via mobile will be worth as much as the amount spent in more than 30,000 UK shops. The research suggests that the m-commerce sector in the UK is currently worth £9.7 billion and is expected to grow to £53.6 billion by 2024. Spend on smartphones is forecast to rise by 243.5% in the next four years, with direct spend on both phones and tablets set to climb by over 230%.
It seems that with improving consumer confidence there are lots of forecasts predicting growth:
• The UK luxury sector, including designer apparel and footwear, is expected to be worth more than £51bn by 2019, the latest figures have revealed. The sector contributed £32.2bn to the economy in 2013, 2.2% of GDP, according to a study by international consultancy Frontier Economics for Walpole, the industry alliance whose members including Burberry, Alexander McQueen and Harrods, and law firm Charles Russell Speechlys. Luxury businesses are set to employ 158,000 people within the next four years, up from 113,000 in 2013, and grow in value by 60%.
• Similarly, the UK plus-size fashion market is set to hit the £5.4bn mark in 2015, accounting for 12.4% of the overall clothing market, according to research by Conlumino. Conlumino forecasts shoppers’ spend on plus-size fashion will grow 23.8% to £6.4bn by 2019 as more retailers expand their ranges to include bigger sizes.
You can keep up-to-date with the latest trends here on SnapShop.
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