What: According to a study by Sainsbury's RSM UK, retailer-branded labels are expected to drive fashion growth in the UK in 2024.

Why it is important: More budget-conscious consumers are turning to own-brand clothing ranges amidst the cost of living continuing to shape shopping habits.

The study revealed that over a third of consumers are buying more own-brand products than last year. The survey also showed that clothing and accessories saw a six percentage point increase in own-brand product purchases. Additionally, over a quarter of consumers are planning to cut back on clothing and accessories spending in the next three months, with women being more likely to do so.

Despite the trend of adding third-party brands, retailers like Next, M&S, Sainsbury's, and John Lewis are focusing heavily on their own labels, with consumers appreciating their value in difficult times.

Own-brand fashion's appeal to grow in 2024 - UK report