US retail demand for men's clothing is projected to rise by 1.6 per cent annually in nominal terms till 2023, according to ‘Men's Clothing: United States’, a report released recently by Freedonia Focus Reports. Continued population growth will underlie gains, as will rising consumer income, driving spending on luxury, environment-friendly and name-brand items.
Gains will also be driven by growing interest from men in maintaining a fashionable appearance and an ongoing athleisure trend boosting demand for activewear featuring higher priced performance materials.
Growing costs from increasing use of such materials and the imposition of tariffs for clothing imported from China will force apparel manufacturers to lower margins and/or raise prices, according to a company press release.
However, the mature market for clothing and intensifying competition from a variety of retail channels will limit volume growth and price increases. In addition, more men are purchasing apparel (especially athletic apparel) wearable for a variety of activities in diverse social contexts, such as fitness centres, workplaces and restaurants, reducing the number of garments needed in a wardrobe. (DS)
Fibre2Fashion News Desk – India