UKFT’s Facts and Figures 2024 report examines industry-specific metrics including production output, consumer spending patterns, business demographics, investment levels, productivity measures, and international trade dynamics. By doing so, it seeks to unravel the underlying trends and patterns that shape the UK fashion and textile industry’s trajectory.
It says post-Covid, the UK fashion and textile sector has gradually evolved and adapted to new circumstances and that despite initial setbacks it has “shown resilience and been undergoing notable changes”.
Among the changes that have been embraced are boosting digital capabilities in an environment that has become more favourable to online shopping experiences.
“To succeed in the evolving global marketplace, businesses in the UK fashion and textile sectors should focus on enhancing their competitiveness, embracing digital transformation, exploring new markets, and investing in R&D and gross fixed capital formation (GFCF). Policymakers and stakeholders need to provide support through skills development, access to…
