The recent years have seen clothing purchases grow manifold, as more consumers have participated in ever-changing fashion trends and trend cycles. With a new popular item always on the horizon, here is a deep dive into the emerging trends in men's retail in EMEA and APAC regions drawing on insights from Mintel's research.
HOW BUDGET IMPACTS MENSWEAR SPENDING
The challenging economic landscape influences consumer behaviour, with a rising number of shoppers seeking less expensive retailers.
Consumers have been particularly favouring cheaper online retailers like Amazon and ASOS for purchasing their clothing, with more than half of British consumers opting for them. It may be easy to assume that this focus on online shopping comes primarily from younger age groups, who tend to be better digitally connected. However, the most prominent age demographic for shopping for menswear online is 55-64. With online-only retailers generally able to offer discounted prices, all generations are likely being driven towards online shopping by the appeal of the price tag.
According to Mintel research, while two-thirds of 25-34-yearolds opted for online retailers to buy menswear in 2022, this figure has decreased by nearly 10% in 2023. Younger consumers are also shopping less frequently at higher priced high street stores and luxury retailers, with sports stores, supermarkets, and value retailers representing the typical preference of people aged 16-34. This shift from luxury to value in young people highlights the behaviour change that relates directly to men's retail budgets.
LEADING MENSWEAR RETAILERS IN THE UK
This story is from the June 2024 edition of Business Of Fashion.
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This story is from the June 2024 edition of Business Of Fashion.
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