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Wednesday, January 30, 2008
Cheap is Chic
The British are avid fashion followers but when it comes to spending their money, they don't like to break the bank for the sake of looking good. A survey that was carried out by Mintel stated that 30% of shoppers prefer to pay as little as possible for clothing so, it's not a surprise that the value clothing market in the UK has grown by 45% in the last 5 years. Low-cost fashion in the UK reached £6.3 billion last year and by 2012, it is expected to hit £8.7 billion. As being fashionable is more important than the price tag, it is not surprising that shops like Primark and Topshop are raking in the profits.