Upturn in The Economy Shows Small Growth in Mens Fashion This Summer
A recent Drapers article has been released and has shown some very interesting findings. G-Star Raw has been the most popular brand in terms of best selling. This is a surprise to economists who have predicted tough times for the Dutch super-brand, due to lack of disposable income in the young adult sector – the target market of the brand.
G-Star is followed by Luke 1977 and Diesel which seem to indicate that there has been an increase in consumer confidence, with them now buying higher ticket items. This could be seen as ‘light at the end of the tunnel’ with consumer spending having fallen over the last 2.5 years due to the global financial crisis which has hit the UK particularity hard due to the importance of its financial sector.
The best sell-through mens designer brands this year are Luke, G-Star, Adidas Originals, Duck and Cover and firetrap. Maintaining a strong sell-through is vital for retailers to ensure they are not over stocked. Overstocking will cause a problem with cash flow if not enough stock is cleared during the season with new stock arriving that will need to be paid for.
As to be expected, the most popular selling category items were seasonal wear. The drapers article shows that the most popular types of clothing were polo t-shirts and t-shirts. Although these items sell all year round, the summer sees stronger sales than the winter.
The biggest surprise this season has been the popularity of mens chinos. They have come from nowhere and have absolutely taken the UK by storm. The seasons in product has flown off the shelves with strong sales reporting showing them almost neck-and-neck with denim sales. This trend looks to continue into Autumn/Winter 2011 and beyond.
But why have chinos performed so well in these tough economic times? Well, they have risen from the ashes. They are no longer straight leg, clean cut and what your Granddad would wear. They have been transformed. Elasticated cuffs, drop crotch, and pocket twist all have given chinos a new edgy look. They have received exposure from X-Factor with boy band One Direction seen wearing them.
The figures themselves also look to be showing promise, with 54% of retailers polled saying they have better figures than last year, with 31% saying the same, and only 15% saying they have worse figures. These are encouraging signs for a fragile industry despite the cost of cotton constantly rising; perhaps it is not all doom and gloom for the retail industry.
Source: Drapers Magazine- August 26th 2011 Menswear page.