Men’s growing appetite for fashion and a dressed-up look may turn out to be a retail bright spot this holiday season.
That would be welcome news for an industry that’s struggling in the shadow of economic concerns that threaten to limit shoppers’ budgets for discretionary things during the big holiday sales season.
Total U.S. men’s apparel sales rose 6.5% to $53.7 billion in the year through September, outpacing the 1.2% increase in women’s, according to the NPD Group. On average, men’s apparel sees a 2% to 3% annual growth while women’s 3% to 4%, said NPD’s chief industry analyst Marshal Cohen.
Spurring the growth, men’s tailored clothing, including suits and sport coats, jumped 10.8%, ties and other neckwear rose 10.3%, and men’s shirts gained 2.3%.
“It’s across all price points and all ages,” said Richard Jaffe, a Stifel, Nicolaus & Co. analyst. “It’s not just the 19-year old buying an inexpensive suit. It’s all those things and the 50-year old finding casual to work isn’t just a polo shirt any more. We are seeing more retailers respond to that.”
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