Overall Apparel Spending
Despite the economy, many consumers continue to have relatively healthy apparel budgets. Please note that when we use the word “apparel,” we’re including both clothing and footwear.
The largest portion – just over 27% – indicate they spent more than $2,000 on apparel over the course of the past year. This is down slightly from 2022, when 31% indicated they spent $2,000+ on apparel.
As a reminder, these figures incorporate spending for both clothing and footwear. We explore clothing spending specifically here. Footwear spending is covered here.
The Lasting Impact of COVID
The pandemic is now – in the context of the matter at hand – behind us. But for nearly half (47%) of shoppers, it continues to impact their overall apparel spending – for better or worse.
Nearly a quarter (23%) say they spend less on apparel products now than they did pre-COVID. Another quarter (24%) say the opposite is true; they spend more now than they did prior to COVID.
Consumers Continue to Spend on Apparel
Overall apparel spending is down slightly year-over-year. But many consumers continue to spend a healthy amount on clothing and footwear products.
This is certainly good news for apparel brands and retailers. However, sales growth isn’t a given.
Apparel shoppers have plentiful options, and it can be a challenge for brands and retailers to break through the noise to reach them. First, businesses must understand the factors that impact consumers’ behavior when shopping for apparel. We cover some of those key factors here.
Armed with these insights, brands and retailers can develop more effective strategies for attracting, converting and retaining apparel shoppers.