Women's Clothing - US - May 2015

OVERVIEW
What you need to know
Definition
EXECUTIVE SUMMARY
The issues
Women’s clothing market sees growth
Figure 1: Total US retail sales and forecast of women’s clothing, at current prices, 2009-19
Industry is very fragmented impacting where and how women shop
Figure 2: Retailers shopped for women’s clothing, January 2015
Poorly stocked, overpriced merchandise and inconsistent sizes cause frustration
Figure 3: Frustrations encountered when shopping for clothes, January 2015
Casualization is driving the market
Figure 4: Women’s clothing purchases, January 2015
The opportunities
Narrow in on women 18-34
Figure 5: Shopping behaviors and attitudes toward personal style, January 2015
Make it personal: Gifting and self-gifting represents opportunity
Figure 6: Reasons for buying clothes, January 2015
Play up comfort and casual themes
Figure 7: Attitudes toward personal style, January 2015
What it means
THE MARKET – WHAT YOU NEED TO KNOW
Women’s clothing market sees growth
Growing female population and stabilizing economy will support this future growth
Obesity remains a threat
MARKET SIZE AND FORECAST
Women’s clothing market slated for moderate growth
Figure 8: Total US retail sales and forecast of women’s clothing, at current prices, 2009-19
Figure 9: Total US retail sales and forecast of women’s clothing, at current prices, 2009-19
MARKET BREAKDOWN
Tops account for about half of women’s clothing sales
Figure 10: Total US retail sales and forecast of women’s clothing, by segment, at current prices, 2009-19
MARKET FACTORS
US female population growth will benefit women’s apparel industry
Figure 11: Women by race and Hispanic origin, 2009-19
Consumers are cautiously beginning to spend again
Over one third of women are obese
Figure 12: Percentage of women aged 20 or older who are obese, by age, 2001-04 to 2009-12
Online and mobile devices provide more shopping options for busy women
Social networks offer another source of inspiration
Desire for casualization influences merchandise selections
KEY PLAYERS – WHAT YOU NEED TO KNOW
Price, convenience, service, and selection still matter
Increasing price competition pressures smaller retailers
As the apparel industry evolves, omnichannel leaders and value players will continue to fare well
WHAT’S WORKING?
Stores offering the right combination of value, convenience, service, and selection are winning
Affordable pricing and customer service
Innovative marketing
Unique merchandise selections
WHAT’S STRUGGLING?
Retailers struggling with brand identity, inability to be nimble, and price competition continue to face challenges
Contending factors
Store closings
WHAT’S NEXT?
Value players and omnichannel leaders will continue to thrive
Online shopping will rise
Value players will fare well
Omnichannel approaches are mandatory for success
THE CONSUMER – WHAT YOU NEED TO KNOW
Women enjoy the shopping process
Gifting and self-gifting: A rich area for marketing aimed at women and men
Highly fragmented marketplace
Whether alone or with others, clothes shopping is a personal experience
WOMEN’S CLOTHING PURCHASES
Women enjoy the shopping process
Figure 13: Shopping behaviors, by age, January 2015
Wide range of items purchased
Figure 14: Women’s clothing purchases, January 2015
Women 35-54 spend the most on clothing
Figure 15: Amount spent on women’s apparel, November 2013-December 2014
Spending expectations: In their words
Tips and tricks on saving: In their words
ROLE OF MEN
Men are big spenders too
Figure 16: Amount spent on women’s apparel, by men, November 2013- December 2014
Figure 17: Women’s clothing purchases, by men, November 2013-December 2014
RETAILERS SHOPPED FOR WOMEN’S CLOTHING
With many choices, shopping in this category is fragmented
Figure 18: Retailers shopped for women’s clothing, January 2015
Women are loyal to a few favorite stores
Figure 19: Shopping behaviors, January 2015
Their last shopping experience: In their words
Shopping can be a personal experience for one, or a social experience for many
In their words
Shopping is for me
Shopping is more fun with others
REASONS FOR BUYING CLOTHES
Self-gifting: An untapped opportunity for retailers
Figure 20: Reasons for buying clothes, January 2015
Nearly three in 10 sales occur on impulse
Figure 21: Reasons for buying clothes, January 2015
Qualitative insight: Occasion can influence shopping process
FRUSTRATIONS ENCOUNTERED WHEN SHOPPING FOR CLOTHES
Inconsistent sizing is biggest source of frustration
Figure 22: Frustrations encountered when shopping for clothes, January 2015
Qualitative insight: Would you pay more for delivery services and in-store pickup?
ATTITUDES TOWARD PERSONAL STYLE
Comfort more important than style
Figure 23: Attitudes toward personal style, January 2015
In their words
CLOTHES SHOPPING INFLUENCERS
Younger women eagerly seek advice on how to be trendy
Figure 24: Attitudes toward personal style, January 2015
Young women are also influencers; social media can be conduit between brands and consumers
Figure 25: Clothes shopping influencers, any rank, January 2015
In their words
OPINIONS ON DEALS AND LOYALTY PROGRAMS
Qualitative insight: What constitutes a good deal?
At least 50% off
Less than 50% off
Qualitative insight: What do consumers look for from loyalty programs?
APPENDIX – DATA SOURCES AND ABBREVIATIONS
Data sources
Sales data
Fan chart forecast
Consumer survey data
Consumer qualitative research
Abbreviations and terms
Abbreviations
Terms
APPENDIX – MARKET
Figure 26: Total US retail sales and forecast of women’s clothing, at inflation-adjusted prices, 2009-19
Figure 27: Female population aged 18 or older, by age, 2009-19
Figure 28: Real Disposable Personal Income: Percentage change from preceding periods
APPENDIX – CONSUMER
Figure 29: Amount spent on women’s apparel, by race/Hispanic origin, November 2013-December 2014
Figure 30: Amount spent on women’s apparel, by household income, November 2013-December 2014
Figure 31: Amount spent on women’s apparel, by men, November 2013-December 2014
Figure 32: Amount spent on women’s apparel, by men, by race/Hispanic origin, November 2013-December 2014
Figure 33: Amount spent on women’s apparel, by men, by household income, November 2013-December 2014