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Luxury’s next big thing: smaller customers

As the UK invests heavily in childrenswear, average prices rise by 29 percent and parents just can’t get enough. 28...
As the UK invests heavily in childrenswear, average prices rise by 29 percent and parents just can’t get enough. 28 July 2016, LONDON, UNITED KINGDOM — When it comes to getting dressed, kids are growing up faster than ever. New data from retail analytics company EDITED shows the childrenswear market is expanding fast, thanks to the rising demand of miniature versions of contemporary adult styles like activewear, pinafore dresses and bomber jackets. Or, as the trend is called, Mini Me fashion. “Children’s fashion is becoming more like adult fashion. We’re seeing success on styles similar to women’s and menswear. These days parents want their children to look more mature and cool. That’s conveyed through Mini Me best sellers,” says Shamiran Michael, Kidswear E-commerce Merchandiser at River Island. To help retailers seize the market’s momentum and make sure they’re stocking Mini Me best sellers of their own, EDITED has built a new software tool that lets buying and merchandising teams filter the kids’ market by age, size and gender. Using the new technology, fashion retailers can track childrenswear products and prices in real time to understand exactly how their competitors are navigating the market, therefore gaining a huge competitive edge. And a competitive edge in a market that was, in 2015, valued at £5.8 billion by Euromonitor could mean sizable returns for retailers. According to EDITED, the market grew by 2 percent at the 20 biggest childrenswear retailers in the UK over the last three months (from April 15 to July 15, 2016) compared to the same period in 2015. That growth hasn’t happened in isolation either. It’s driven a considerable increase in average prices. Using its childrenswear tool EDITED has determined that, in the last three months, the UK childrenswear market’s average price has jumped 28.6 percent over the same period in 2015 reaching. Now averaging £49. On the product side, brands haven’t strayed far from the same trends their adult customers are buying themselves. And the buys have been considerable. In the US and UK, kids’ activewear, which includes printed leggings, motif sweaters and trainers, has seen a 27 percent increase in new arrivals when comparing April 15 - July 15, 2016 to the same period in 2015. For contrast, adult activewear was up 20 percent. Over that same time period, childrens’ bomber jackets grew by 263 percent, more than twice the 93 percent growth in adult lines. Cold-shoulder tops and dresses also saw enormous growth; childrenswear was up 120 percent, following the lead of adult lines, which were up 237 percent. So it’s safe to say that when Net-a-Porter recently registered the domain name, Petite-a-Porter, it knew what it was doing. At present, Burberry, Stella McCartney, Gucci, Fendi and Moncler are the most stocked luxury brands in childrenswear. About EDITED EDITED helps the world’s best retailers drive sales by eliminating guesswork. The Retail Decision Platform uses A.I. to optimize buying and merchandising decisions, ensuring retailers get their product and prices right every time. This is how the world’s most innovative retailers stay ahead of the competition; including PUMA, Tommy Hilfiger, Diesel, Ann Taylor and the Arcadia Group. For more information, visit Press contact: Laura Kubica Grigerova, [email protected]