Men's apparel has led retail growth in the last couple of years and is expected to grow faster than other categories such as electronics or music.
In the UK this market has grown by 12 per cent in the past five years and is worth £10.4bn, according to the study by Mintel.
The market research group believes the market will maintain this growth and rise by 11 per cent between 2012 and 2017. (source)
Online shopping appeals to men and many retailers are now waking up to the fact that department stores and shopping centres are designed specifically with women in mind and quite off putting for the male shopper. As Ben Lerer, founder of men's lifestyle website, Thrillist says “Men don’t hate fashion, they just hate shopping the way it’s designed for women,” and he has a good point.
“The young generation of guys love to shop, they love to talk about the brands they like and they really care about how they look.”
“The young generation of guys love to shop, they love to talk about the brands they like and they really care about how they look.”
Online shopping seems to suit the way men shop and has accounted for a lot of the growth, although women's online sales still double those of men. However men's online sales are growing at a faster rate than women's with the growth gap set to increase.
It's not just online retailers that are taking advantage of the boom in menswear, luxury brand menswear is a growth area and bricks and mortar flagship stores are opening all over the world's fashion centres. Here in the UK Dolce and Gabbana have opened their second men's only flagship on Bond Street, London and Alexander McQueen have opened up a men's only tailors in Savile Row, London. Whereas before these high end luxury fashion brands had menswear as an addition to the women's wear ranges they are now recognising the potential new growth market and investing accordingly with designer brands like Gucci, Dior, and Ralph Lauren all opening men's stores across the globe.
It's not just online retailers that are taking advantage of the boom in menswear, luxury brand menswear is a growth area and bricks and mortar flagship stores are opening all over the world's fashion centres. Here in the UK Dolce and Gabbana have opened their second men's only flagship on Bond Street, London and Alexander McQueen have opened up a men's only tailors in Savile Row, London. Whereas before these high end luxury fashion brands had menswear as an addition to the women's wear ranges they are now recognising the potential new growth market and investing accordingly with designer brands like Gucci, Dior, and Ralph Lauren all opening men's stores across the globe.
As retailers respond to men's shopping habits and recognise this growing market in the young and affluent professional we shall see more choice for men on the high street follow too. We look forward to installing more men's wear displays in this rapidly expanding market!
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