FASHION STATISTICS THAT MIGHT SURPRISE YOU
The news media earn their keep by predicting doom and gloom, but no matter what the headlines scream, one thing that hasn’t suffered this past year is men’s fashion. Not so long ago, the three-piece suit was de rigueur, and almost no man would risk being seen at work in anything less than a suit and tie. While slow fashion is gaining ground, we still have plenty of fashion choices about what to wear to work that were unimaginable just a few decades ago. The UK men’s clothing market is currently worth an impressive £15bn and only headed skyward. From sportswear to engagement rings, the smart money is on men’s fashion. Read on to learn more fashion statistics that might surprise you.
While the womenswear market is bigger overall, the growth pattern for menswear is outpacing it. In the UK, expected growth for men’s apparel is around 11%. Worldwide, that figure is even better, around 14%. Factor that into a global menswear market of over £300bn and we are talking about serious gains. Why is menswear outpacing womenswear? For one, it’s now the norm for men to take an interest in fashion. Incorporating colour, patterns, and mixing the trendy with the tailored has become standard.
Today’s clothes are also a lot more comfortable to wear. With the influx of sportswear and streetwear into the mainstream, men can actually enjoy getting dressed for work. In the same vein, dress codes for work and social situations have relaxed significantly. The perceived value of casual clothes has increased because men can now wear them more often than just on weekends. Men don’t fool around when it comes to splashing around the cash either. About 20% of men say they spent over £100 on their last shopping venture while only about 12% of women did the same. Self-expression is also a top priority among today’s men. They no longer feel confined to a few styles that help them fit in with the pack. Men are experiencing a new confidence with showing their fashion-forward taste. Today’s man wants to be free to embrace his inner nerd, or show off his flamboyant fancy. The explosion of online retailers has supercharged this trend. Obscure brands can now reach customers that would have been unattainable just a few years ago.
Another change in the marketplace that has fuelled spending in menswear is the move away from designer labels toward more affordable options. That said, men still expect quality. Some 70% of male respondents said quality is important versus only 64% of women. Men want clothes that stand up to the test and serve multiple functions, rather than being strictly for work or for play. A slow but steady relaxation of expectations from formal to casual has been taking place over the years. The internet sped things up, and the pandemic kicked the trend into high gear. The movement toward androgyny has also influenced the way men think about clothes and opened up more options. Men finally feel safe to express their feelings. The confidence to have fun with clothing and show off their ‘True Self’ has been hugely influential in creating these changes. Dressing boldly is no longer eccentric. It’s the new norm.
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