Inexpensive Clothing, Including Sweatshirts, On the Rise

Friday 22nd of January 2010 05:42:16 PM

Inexpensive Clothing, Including Sweatshirts, On the Rise

Inexpensive clothing in every category from high fashion to sweatshirts is becoming more popular all the time. The proof that fast fashion is growing in popularity was found in Primark sales reports indicating Christmas shoppers spent more on inexpensive clothing. Revenues for Primark rose by 17 percent during its first fiscal year quarter which includes November and December.

Primark is owned by Associated British Foods. With the economy recovering very slowly from the recession and unemployment remaining high, it should be no surprise shoppers are looking for clothing bargains. What has surprised Primark though is the amount of the increase in sales indicating the company’s market share is increasing. Jason Bason is the finance director for Primark. He said, “The scale of the increase suggests we are gaining market share. Primark has been very much part of the growth in value clothing, we’ve seen a big increase in that sector, and the trend has been accelerated by the current economic conditions.” But the reality is that clothing purchases are going to be necessary even when trying to reduce expenses by making current clothing last for a longer period of time. For example, children continue to grow whether or not there is a recession.

Households have consistently shown a change in spending patterns and shopping habits that are designed to decrease expenses. Growth in lower priced clothing and other goods is expected to continue through 2010. Despite the recession, Primark has plans to expand and will be opening additional UK stores this year.

Buying clothes from discount retailers and online has enabled consumers to purchase needed clothing. Online sales of clothing like cheap t-shirts and jeans are consistently increasing.