Rising Spending on Higher Priced Items Will Drive Gains
CLEVELAND, Oct. 3, 2019— US demand for apparel is forecast to rise 1.7% annually in nominal terms through 2023, according to Apparel: United States, a report recently released by Freedonia Focus Reports. Ongoing population expansion will drive gains, as will increasing personal income, driving spending on luxury, environmentally friendly, and name-brand items. An ongoing athleisure trend will boost demand for higher priced apparel made from performance materials. Growing raw material costs and the threat of tariffs on clothing from China will force apparel manufacturers to lower margins or raise prices.
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 consumers are purchasing apparel (especially athletic apparel) wearable for a variety of activities in diverse social contexts, such as fitness centers, workplaces, and restaurants, reducing the number of garments needed throughout the day.
These and other key insights are featured in Apparel: United States. This report forecasts to 2023 US apparel demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by product in terms of:
Total demand is also segmented by demographic as follows:
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2008 to 2018.
Non-fabric or non-apparel accessories such as eyewear, footwear, handbags, jewelry, luggage, purses, and watches are excluded from the scope of this report. Single-use disposable apparel is also excluded. Re-exports of apparel are excluded from demand and trade figures.
As demand for apparel rises in the US, what is the strategy of your apparel brand? The preference of customers for environmentally friendly fabrics indicates an inclination towards sustainability in fashion. Your apparel brand can also offer sustainable fashion by offering customized outfits with iDesigniBuy Apparel Design Software while reaping higher revenue.