It’s been a busy week for the retail industry, with the launch of the brand new ‘Brasil’ and ‘Prestige’ showrooms, the launch and availability of new fashion collections and new retail space, and the latest on the fashion business and retailers’ stock markets.
But while the brands’ stock prices and the financial results of those brands have been mixed, the biggest winners in the retail world have been the retailers themselves, who have benefited from a boom in the value of their brands and the strong demand for their products.
This has led to a huge boost in sales from these retailers and has helped to support their retail businesses.
This week, the best-selling brands have seen their share of the market rise, while brands in the middle of the pack have seen sales drop.
However, there have also been some notable outliers.
Brasileas, for example, have been a standout performer in the last few weeks, and have seen the biggest decline in sales over the last 12 months.
In contrast, brands in their mid-market category, the luxury market, have seen a surge in sales, with some of the largest gains in recent weeks.
The biggest gains were seen in the ‘Velvet’ category, which has seen sales increase by over 50 per cent.
Velvet’s main competitors, Vogue and Bottega Veneta, have also seen strong growth in sales this week.
Overall, retail is in the midst of an exciting season for retailers.
In fact, a number of retailers are set to release their first quarterly results on Monday.
According to research firm BDO Retail, the retail sector will be worth more than £4.5tn this year, and this is due to the continued growth in the price of goods and the rise in online shopping, as well as a strong consumer spending trend.
So what has all the excitement about retail been about for you this week?
We want to hear from you!
Do you like the new trends?
What is your favourite retail shop?
How do you buy the best clothes?
Find out more at bdo.com/retail