Cheap chic or fast fashion as it is also known has been with us for a long time now, basically it is the practice of taking the latest catwalk trends and producing cheaply priced versions for sale on the high street.
Primark have increased their share in this market by 4% over the last 12 months overtaking Asda’s George which has range slipped to around 16%, down almost 1% from 2006.
Other leading contenders in this cut price fashion area, which at £8.5 billion is about 24% of total UK clothing spend, include New Look and Tesco.
Primark’s share of the overall clothing market is 4.5%, they still have a bit to go to catch the market leader Marks & Spencer who remain well in front at 11.3%.
