The Modacc/Kantar report shows an increase in online sales as well as an increase in reflective consumption. Spain is the country where online shopping has picked up the most in 2023, ahead of Italy and France. The report has found that the consumers reactivate demand whenever they find an appropriate balance between price and value.
The Modacc/Kantar report is put together from the fashion products consumption panel of Kantar Worldpanel, a company specialised in market studies. The report is based on the input from more than 10,000 consumers from all over Spain and shows that the current economic context is directly affecting the fashion market. Especially as the consumers express concern about the current situation and prefer to control their spendings and product savings. Consumers have therefore reduced the number of shopping visits to fashion mortar-and-brick facilities. Instead, they claim that they buy strictly what is necessary, prioritising the search for offers even outside the sale season. In this sense, although there is a 7.3% increase in fashion spending during the first half of 2023, the volume of products sold is only 2.1% higher.
According to the study, during this first half of the year, companies continue to experience a stagnation in purchase traffic, along with an average increase in price/unit of 5.1%. These two factors make each visit and contact with the buyer more and more decisive for the purchase.
After two years of stability in online fashion shopping, e-commerce is bringing back repeat buyers. According to the study, Spain is the country where online shopping has picked up the most in 2023 (21.9%), ahead of Italy and France. In addition, in Europe, Spain was the only country that boosted purchases in the first semester (+2.1%), while in England, Italy and France they were reduced.
Despite the fragile and volatile recovery, consumers reactivate demand as long as they find an appropriate balance between price and product value. In the first two quarters of 2023, sales in the women’s outdoor knitwear categories pick up again, women’s underwear, hosiery and menswear – compared to the first half of 2022. One observable trend during the first semester of 2023, is that the consumer is attentive to the price, while the value of the product is of special importance. That means that there is an important relationship between the price of the product and the unique assessment made by each buyer. This Assessment includes design, quality, functionality, comfort, brand and other attributes.
Adaptation to consumer behaviours
Many of the fashion brands associated with MODACC positively assess the evolution of fashion sales during this first half of the year, especially considering the context of inflation and uncertainty that has affected households . In addition, there is a growing awareness on the part of brands that the great present and future challenge is to gain the attention of their customers with a value proposition, different in the market and very much aimed at their needs and interests.
About MODACC and the report
The Catalan Fashion Cluster (Modacc) is a non-profit organisation, integrating some 150 companies within the fashion business in Catalonia. Modacc represents 6000 workers and 2000 million euros in aggregated turnover. Modacc offers various tools to support the competitive development of companies in the Fashion ecosystem of Catalonia. The organisation works with innovation, internationalisation, and the development of a sustainable economy. It carries out numerous networking activities to stimulate business between associated companies.
The Modacc/Kantar report monitors the consumption of fashion products quarterly, based on the continuous monitoring of the purchase of more than 10,000 people over the age of 15 throughout the Pyrenean Peninsula and the Balearic Islands. It includes all channels of purchase for the Catalan Fashion Cluster. The use of reliable consumption data and making it available to associated companies, is key to make strategic decisions when planning the coming seasons.