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New Trends Drive Menswear Sales

New Trends Drive Menswear Sales. According to Euromonitor, menswear sales in the U.S. only increased 1% during 2016 due to a drop in discretionary spending because of election uncertainty. Globally, menswear is expected to increase 2.3%, more than womenswear at 2.2%.

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New Trends Drive Menswear Sales

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  1. New Trends Drive Menswear Sales • According to Euromonitor, menswear sales in the U.S. only increased 1% during 2016 due to a drop in discretionary spending because of election uncertainty. Globally, menswear is expected to increase 2.3%, more than womenswear at 2.2%. • Per the US Census Bureau, men’s clothing stores’ 2016 sales revenues were $8.649 billion. If the rate of sales increase during the first half of 2017 continues, 2017 will be on track to generate revenues of $9.229 billion. • Casual wear is the most popular category purchased at men’s specialty stores, at 37.9%, because of a relaxation of work dress codes. The emergence of premium denim, popular among Millennial consumers, has also been a driver of casual wear.

  2. The Inside Story • Business of Fashion’s Global Fashion Index 2016 anticipated that athletic wear will increase the most, at 6.5% to 7.5%. The sub-category of athleisure was expected to increase by double digits. • When shopping in-store, 55% of Millennial men will search the Internet for coupons compared to 50% of Millennial women. When shopping online, 65% of Millennial men will search online for coupons, compared to 74% of Millennial women. • Analysts at Edited, a retail analytics firm, think the men’s big and tall/plus size category is underserved. Women’s plus size has increased 375% since 2013, but plus menswear has decreased 54%, due to lack of consistent sizing and poor marketing.

  3. Targeting the Menswear Shopper • Men’s luxury is a high-growth category. Social media platforms have driven growth in the luxury menswear market as younger men follow style influencers and browse a wider variety of looks than they can find in fashion publications, such as GQ and Esquire. • The average price of a luxury menswear item during 2017 was $232.29, an increase of 64% since 2013. High-end streetwear, jeans, sneakers and bomber jackets are popular. On average, men spend $85 per month on clothing, $10 more than women. • According to Foresee, men respond better to email marketing with content than marketing with discount offers. Personalization is key, not just using his name and featuring only menswear, but also customizing content to customers’ preferences.

  4. The In-Store/Online Battle Lines • Walmart is buying online menswear retailer Bonobos to bolster its online presence and compete with Amazon. More men shop on a mobile device than women. On tablets, men, 20.4%, women 16.9%; on smartphones, men 22.2%, women 18.2%. • Amazon’s top performing apparel category during 2016 was men’s bottoms, with sales of $375 million, followed by women’s intimate apparel ($250 million), men’s workwear ($225 million), women’s denim ($170 million) and men’s underwear ($165 million). • According to One Click Retail, 17% of consumers said they had purchased menswear online during 2016. Amazon is trying to increase its share with its new brand of men’s dress shirts, Buttoned Down, available only to Prime members.

  5. Men Follow Their Own Path • The declining trend in formal business attire has caused a decrease in suit sales, dress shirts and ties and an increase in the sale of casual clothing, such as jeans, T-shirts and sweaters with slogans, leather and knit jackets and deconstructed looks. • Millennial men are more fashion-conscious, making them more likely to buy less conservative, more creative clothing and more accessories. • More men enjoy the social aspect of shopping (6%) compared to 2% for women.

  6. Advertising Strategies • Carefully selected TV programming combined with a strong push to social media will connect with younger men. • Offer men pre-selected combinations of clothing for the office and the casual life at discounted bundle prices to make it easier and less time-consuming to shop. • Since men are now more fashion conscious, display men’s fashion show imagery in-store near selections in a similar style.

  7. New Media Strategies • Encourage men to check in on your store’s app. Store his sizes in the store’s database, so store associates can pull clothes in his size, making the in-store experience more convenient and personalized. • Keep records of styles and brands each customer likes, and send him personalized emails featuring those styles and brands. • Send curated links from style influencers wearing styles similar to those you carry via email, Instagram and in your store’s app.

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