As I was recently trying to clean out my closet, I looked at all the suits and ties and “dress” clothes and wondered, “Should I keep them or take them to the local Goodwill?” Now working in the apparel industry for most of my life, I must confess that I have more than my fair share of clothes, but the question impacts not only what remains in my closet, but what apparel companies and retailers continue to offer going forward. We have noted several times in the past that forecasting for the foreseeable is going to be a challenge (that’s a major understatement) for every category of goods, but I think even more difficult in fashion.
During the recent “Future of Style” event, apparel, footwear, and beauty analysts from The NPD Group addressed a critical question on the minds of many retailers and brands: “Will consumers ever dress up again?” As the majority of consumers stayed inside during 2020, many beauty, footwear, and apparel categories struggled, with sales declining by over $56 billion year-over-year.
There is no doubt that sweatpants and t-shirts aren’t going anywhere anytime soon and even before the pandemic, the casual trend was firmly entrenched, but where will this go from this point? For the first 20 years of my working life, I wore a dress shirt and tie every day. I don’t really see the pendulum swinging back that far, and perhaps the definition of dressing up has changed, but there are indications that people want to dress up again. At the very least, it is clear people are tired of being in their homes and want to get out and go to eat, shop, work…go anywhere. NPD shows an uptick in sales of some dressier styles, but again that may be the result of coming off a terrible year or just a short-term reaction to being stuck inside for over a year.
If there is a movement toward dressing up again, will the apparel manufacturers and the retail community be ready? Comfort will continue to be very important. If the pandemic has taught us one thing, it is that people like to be comfortable. And again, the definition of dressing up has clearly changed and so the fashion industry will have to adjust as well. Hopefully we will see continued growth in apparel sales as a more normal life returns and dressing up is exciting and fun again.
About AKCEL Partners: AKCEL Partners is a sales consultancy founded by three executives with strong bonds throughout the textile, apparel, brand and retail industries. AKCEL Partners offers strategic sales planning combined with experienced, highly networked sales professionals who give clients immediate access to targeted decision-makers. We are dedicated to meeting or exceeding our clients’ short- and long-term revenue goals. To learn more, go to www.AKCELPartners.com.
