Table of Contents
Executive Summary
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- Top takeaways
- Market overview
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- Figure 1: Total US retail sales and forecast of men's and women's clothing, at current prices, 2015-25
- Impact of COVID-19 on men’s and women’s clothing
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- Figure 2: Short-, medium- and long-term impact of COVID-19 on clothing, August 2020
- Opportunities and challenges
- Shopping frequency will slow because of the health and economic crisis
- Creating budget-friendly opportunities to shop
- Recreate the in-person experience, virtually
- Brands need to get comfortable taking a stance
- Embrace messages of wellbeing
The Market – Key Takeaways
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- Worried consumers scale back spend on clothing
- Today’s consumers will shop with a value-conscious mindset
Market Size and Forecast
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- The pandemic and recession have reversed the positive growth pattern
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- Figure 3: Total US retail sales and forecast of men's and women's clothing, at current prices, 2015-25
- Figure 4: Total US retail sales and forecast of men's and women's clothing, by segment, at current prices, 2015-25
- Impact of COVID-19 on men’s and women’s clothing
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- Figure 5: Short-, medium- and long-term impact of COVID-19 on clothing, August 2020
- Lockdown
- Re-emergence
- Recovery
- COVID-19: US context
- Learnings from the last recession
Market Factors
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- In a recession, deal-seeking shoppers will place an even greater emphasis on value
- Younger generations believe you are what you wear
- Demand for face-to-face interaction continues, even if it’s virtual
- Buying new is old for younger generations
Companies and Brands – Key Takeaways
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- Mass merchandisers and Amazon: the new department stores?
- The pandemic has shifted interest in circular clothes shopping
- Lululemon is evolving experiential retail to meet consumers at home
Competitive Strategies
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- Overview of the clothing landscape
- Is this the end of the department store?
- COVID-19 changes interest in circular retail
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- Figure 6: Ganni x Levi’s collaboration, August 2020
- Lululemon is emerging a winner in a tough year for apparel retailers
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- Figure 7: Lululemon Chicago virtual workshop, September 2020
The Consumer – Key Takeaways
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- Consumers enjoy buying new clothes frequently
- Shopper identity changes with age
- Increased demand for activewear causes shifts in purchases and retailers shopped
- Consumers are shifting their approach to shopping
Consumer Trends Impacting Clothing
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- Value
- Surroundings
- Identity
- Technology
- Wellbeing
Shopping Frequency and Seasonality
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- Emotional impact of clothing drives consumers to shop
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- Figure 8: Shopping frequency, June 2020
- Income isn’t a restriction for young adults
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- Figure 9: Shopping frequency, by age and HHI, June 2020
- Multicultural consumers prioritize appearance
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- Figure 10: Shopping frequency, by race and Hispanic origin, June 2020
- Figure 11: Nordstrom “The Futures” series post, August 2020
- COVID-19 will disrupt traditional timelines
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- Figure 12: Shopping seasonality, June 2020
Types of Shoppers
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- Shoppers want versatile, accessible clothing
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- Figure 13: Types of shoppers, June 2020
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- Figure 14: Converse style inspiration, January 2020
- Age influences a shopper’s identity and approach to clothes shopping
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- Figure 15: Everlane mix and match sets, September 2020
- Figure 16: Types of shoppers, by age, June 2020
- Men are more willing to forego affordability for quality
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- Figure 17: Stitch Fix men fit and style finder, August 2020
- Multicultural clothes shoppers focus on variety of factors
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- Figure 18: Types of shoppers, by race and Hispanic origin, June 2020
Retailers Shopped
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- Clothing retailers are losing customers to value-based stores
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- Figure 19: Select retailers shopped, June 2020
- Conscious young shoppers consider more than mainstream retailers
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- Figure 20: Retailers shopped in-store versus online, by generation, June 2020
- Health-minded shoppers benefit activewear retailers in a crisis
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- Figure 21: Retailers shopped – Activewear, by age and HHI, June 2020
- Multicultural shoppers gravitate toward value-based retailers
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- Figure 22: Select retailers shopped, by race and Hispanic origin, June 2020
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- Figure 23: Walmart fashion Sofia Vergara collaboration, May 2020
Items Purchased
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- Shifting lifestyles drives demand for comfortable, functional clothing
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- Figure 24: Items purchased, by gender, June 2020
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- Figure 25: Banana Republic COVID-19 messaging, April 2020
- Activewear is becoming the go-to uniform for women
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- Figure 26: Items purchased, by gender and age/parental status, June 2020
- Multicultural consumers appreciate the chance to dress up
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- Figure 27: Items purchased, by race and Hispanic origin, June 2020
Reasons for Shopping
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- Value is a motivation, but shouldn’t equate to heavy discounting
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- Figure 28: Reasons for shopping, June 2020
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- Figure 29: Tibi “Cost per Wear” email, August 2020
- Figure 30: Everlane “Choose What You Pay” sale, May 2020
- Emotional wellbeing benefits drive some adults to buy clothing
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- Figure 31: Reasons for shopping, by gender and age, June 2020
- Clothing brings added value for multicultural shoppers
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- Figure 32: Reasons for shopping, by race and Hispanic origin, June 2020
Attitudes toward Shopping for Clothes
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- External factors impact what consumers wear
- Younger generations still need in-person verification (even if it’s virtual)
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- Figure 33: Attitudes toward shopping for clothes, by age, June 2020
- Dads are looking for more frictionless options
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- Figure 34: Attitudes toward shopping for clothes, by parental status, June 2020
Shifts in Shopping Behavior
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- One third of consumers are worried about shopping in stores
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- Figure 35: Shifts in shopping behavior, June 2020
- Younger generations see multiple benefits of circular shopping
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- Figure 36: Shifts in shopping behavior, by generation, June 2020
- Hispanic shoppers seek more control over shopping decisions
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- Figure 37: Shifts in shopping behavior, by race and Hispanic origin, June 2020
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Forecast
- Consumer survey data
- Consumer qualitative research
- Abbreviations and terms
- Abbreviations
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