Men spend more on suits & tailored cloth, says Mintel report

03 Feb '06

2 min read

Market research agency Mintel International Group reports that men are embracing dressier styles by purchasing more suits and tailored clothes.

Influenced by the media and a rise in shopping options for men, this $47.9 billion market is expected to grow 10 percent by 2010. Dressier clothes are 'in.' Since 2003, sales of suits and tailored clothes have increased by nearly 30 percent.

"Suits are making a comeback," said Erin Fowler, analyst for Mintel Reports. "After a decade of substituting khakis for suits on Casual Fridays, men are now investing in more tailored clothing."

A focus on personal style is more common among younger men. Approximately 17 percent of Mintel's respondents between 18-24 said they buy clothes to "stand out from the crowd," a figure that compares to just 10 percent of the total respondent group.

Younger men are enjoying the distinguished novelty of suits and dress clothes, which drive the offerings at specialty men's clothing stores.

Sales figures show nearly a 10 percent increase in men's clothing sales at specialty stores since 2003. Today's male consumer is exposed to more information about men's fashion.

While television shows like Queer Eye for the Straight Guy led the way, print is also increasing vehicles for extending style information and advice to men. Conde Nast has launched two magazines targeting men with style news: Vogue for Men and Cargo.

Catalogs and magazines are the top two media channels male consumers use for fashion inspiration and advice, according to Mintel's exclusive research.

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