If we were to reference rigid gender stereotypes, we would probably come across that old-fashioned idea that women are obsessed with shopping. After all, we’ve all probably heard a slew of overused jokes on the topic. However, a new study seems to have proved what many have always known: that a love for shopping isn’t exclusive to just one gender.
According to a market research provider named Euromonitor, men are currently fashion’s biggest spenders, which is a trend that the research group expects to see continue as time goes on.
Earlier in the decade, sales for both menswear and womenswear were somewhat sluggish. However, as of 2016, sales have picked up again. Menswear has simply started to grow faster. In fact, as it currently stands, Euromonitor predicts that the menswear industry will increase by 1.9% by 2021, which is a larger figure in comparison to the 1.4% expected for womenswear.
How did this change come about? Since 2009, menswear has been on the climb. Euromonitor records the industry as having a slight margin over the womenswear category since then.
It is noted that Euromonitor estimates that the womenswear industry was priced around $642.8 billion in 2017, which is a larger number than the $419.4 billion estimated for menswear. So, while womenswear is still technically a larger market than menswear, the lead in growth nonetheless belongs to the latter.
This growth in the industry has come about after some well-regarded changes. As late as the early 2000s, men’s fashion mainly entailed the relatively rigid world of workwear; comprised mainly of tailored suits. However, with the growing rise of streetwear, which draws a lot of inspiration from hip-hop culture and skater chic, the category has seen a greater deal of variety.
The style has already begun to make its way into the luxury circuit, as seen during Paris Men’s Fashion Week when Virgil Abloh debuted his much -applauded collection with Louis Vuitton.
finally on the couch doing nothing. reviewing photos from the past week. looking at selects from my personal favorite Off-White™ men’s season yet. ss19 men’s @Off____White™ collection titled “Dondi White” set design c/o @ceciledigiovanni styling c/o @stevie_dance photography c/o @fabienmontique @studiopremices
In fact, the CEO of the brand’s parent company, LVMH’s Sidney Toledano, spoke on the rise of streetwear, stating:
“It’s more than a buzz. It’s a deeper trend. There’s a strong demand across the men’s fashion industry, in all its shapes and forms, and which comes in part from a younger clientele. We see it very clearly in the sales.”
Featured Image via Robert Sheie