Online clothes retailing is defiantly on the increase. According to Fashion united (2014) more than 16% of SME’s in the UK are planning to launch into actual stores in 2014. In addition to this another 15% of SME retailers have planned to expand using marketplaces such as EBay and Amazon (Fashion united, 2014). According to Mintel (2015) the online clothing market is expected to increase by 14.5% and reach £10.7 billion in 2015.
Figure 1: Online as a percentage of total spending on clothing and accessories, 2013-15 (Mintel)
2.3 Competition within the …show more content…
A key factor which is likely to affect the success of the business is gaining an insight into the market and potential competition. Investigating the target market and ensuring up to date knowledge of the newest trends is critical in the success of online clothing retailers. (Legge and Hindle, 2004). To increase chances of success, as on online clothing retailer you will need to understand customer’s needs and expectations. In order to do this market segments should be examined and you should evaluate competitors marketing methods, gain an insight into their products and identify any possible benefits your product has over the other competitors (Lorette,