Insights on Menswear Market Stability
Gordon Brothers' market analysis concludes the menswear market is stable despite challenges. Find out who is buying men's apparel, the impact of men's occupation on purchases, and the untapped big & tall market opportunity. Discover key trends shaping the industry and the importance of catering to diverse consumer needs.
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Presentation Transcript
Happy to Be a Steady Market Analysis from Gordon Brothers concludes the menswear market is stable, which is quite an accomplishment given the number of store closings, increasing online sales and a general softening of the total US apparel market. Two positives for the sector are the high level of employment, creating more demand for daily workwear, and the increasing appeal of athleisure wear, which is becoming more acceptable as workwear, as companies relax their dress codes. Although The NPD Group forecasts a decrease in total 2019 US apparel spending, the US Census Bureau data indicates the menswear sector has been strong; however, sales increased at a much lower rate through May 2019 compared to 2018 and Q4 2018.
Who Are Buying Mens Apparel? According to The Media Audit s 2019 Rolling Aggregate Report of 66 US markets representing more than 143 million US adults, 30.1% of a 70-million base population of men 18+ purchased men s clothing during the past 4 weeks. The two primary age groups by percentage and index were 25 34 (19.2%/105) and 35 44 (19.2%/109). Men 55 65 were another significant segment, at 15.9%/99. Women are also a prime target audience as purchasers of men s apparel. The Media Audit found those 25 34 (19.2%/112) and 35 44 (20.6%/122) were the largest groups.
A Better Understanding of Today s Men Results in More Effective Advertising Men s occupation is a major factor driving their apparel purchases. Unsurprisingly, The Media Audit report revealed 45% of white collar workers (index of 128) were first among men 18+ who purchased men s clothing during the past 4 weeks. Professional, technical was a distant second, at 17.5%/124 and proprietors, managers third, at 16.3%/136, which retired matched at 16.3%/84, a sub- market that men s clothing stores shouldn t overlook. Another affinity gleaned from The Media Audit data is men visiting a bar or night club during the past 4 weeks. Those 18 49 were 47.9% of the 8.6 million target persons, with an index of 126. Those 18 34 were more than half, at 24.8%/126.
The Industry Is Still Overlooking the Big & Tall Opportunity According to industry analysts, there is a significant, but mostly untapped, market for big & tall men s apparel; however, many larger men have difficulty finding an adequate selection in styles and sizes, even at big & tall stores. A major challenge for manufacturers and retailers is larger men are not as vocal about their needs, providing the industry with very little feedback. Manufacturers don t have the data to plan, design and make the appropriate selections. Many of the men s big & tall brands and where to purchase them are online, which directs too many shopping dollars from brick-and-mortar stores. Much of the selection is based on streetwear fashions and not professional or formal wear.
Looking for Advantages on the Edges Amazon continues to be very competitive, introducing its StyleSnap app during June 2019. Consumers are able to upload a photo of a style he or she prefers and the app will recommend similar products from Amazon. Men are apparel resale shoppers too, but according to a June 2019 Fashionista article, men are more likely to buy collector T-shirts or limited-edition sneakers, which lend themselves to more hype, thus elevating prices compared to women s resale. The menswear market has a clear advantage over womenswear in the US s trade war with China. During 2018, approximately 42% of women s and girls apparel and footwear were manufactured in China compared to 26% of men s and boy s.
Advertising Strategies Although men 55 65 are the third largest audience to have purchased men s clothing during the past 4 weeks, according The Media Audit. Retailers can specifically target them with TV while connecting with younger men online. The table at the bottom of page 1 of the Profiler reveals women in larger-income brackets index quite high as purchasers of men s clothing, making TV also an excellent medium to reach this audience and showcase looks and brands to help dress their men better. Local men s clothing stores that are able to improve their big & tall selection can use TV and other complementary media to promote themselves as the local experts. They should advertise a special offer for first-time customers.
New Media Strategies With such a strong affinity of younger men who visited a bar or nightclub and purchased clothing during the past 4 weeks, a store and bar or nightclub may want to co- promote a live, online men s fashion show, randomly choosing patrons to be models. Another interesting affinity in the table on page 4 of the Profiler is the large percentage of men who own a foreign car and purchased clothing. Create an online car rally and invite men to upload short videos of their foreign cars and why they own them. The table also reveals an affinity for attending rock/pop music concerts. Recruit one or more customers to be an online influencer (with an incentive) to wear selections of clothing to local shows and post short videos of them at the show and modeling the fashions.
