Port Washington, NY (PRWEB) May 01, 2014
According to The NPD Group, Inc., a global information company, total men’s apparel U.S. retail sales reached $60.8 billion in 2013, a 5 percent increase over the $57.8 billion generated in 2012, thanks in large part to double-digit gains in sales of men’s outerwear, pants, and socks. In contrast, the U.S. women’s apparel market grew 4 percent with total sales of $116.4 billion dollars.
Of the 13 categories tracked by NPD in men's apparel, 12 experienced dollar sales increases in 2013, including pants, with sales increasing 12 percent to $4.8 billion, and socks, which grew by 14 percent to $2.8 billion. The only category to experience dollar sales declines was men's tops, which saw sales drop 2 percent.
“Innovation and men’s perception of fashion contributed to an increase in spending in 2013,” said Marshal Cohen, chief industry analyst, The NPD Group. “Another notable reason for the rise included colder than usual weather conditions, which helped the sales of men's outerwear grow 12 percent.”
Most channels benefited from total men’s apparel sales in 2013. Strong sock and pants sales influenced the increase at specialty stores, while outerwear trended sales upward at department stores and mass merchants.
Website purchases, which represented 14 percent of men’s apparel sales, saw some of the highest growth for the year, increasing 19 percent over 2012. Also noteworthy is the fact that the average price of an in-store purchase grew 3 percent for men’s apparel, while online declined 7 percent.
“To remain competitive, brick-and-mortar retailers must step up their game,” said Cohen. “They need to disregard antiquated marketing and sales strategies, and adjust their tactics to better accommodate the whims of online shoppers, including the development of more dynamic pricing models, enhancing selections, and addressing convenience.”
About The NPD Group, Inc.
The NPD Group provides global information and advisory services to drive better business decisions. By combining unique data assets with unmatched industry expertise, we help our clients track their markets, understand consumers, and drive profitable growth. Sectors covered include automotive, beauty, consumer electronics, entertainment, fashion, food / foodservice, home, luxury, mobile, office supplies, sports, technology, toys, and video games. For more information, visit http://www.npd.com and npdgroupblog.com. Follow us on Twitter: @npdgroup.
The NPD Group, Inc.