Study: Women starting to buy apparel again-Market Survey-Magazine-IRISPANCY FASHION ACCESSORIES & JEWELRY

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Magazine > Market Survey > News Content

Study: Women starting to buy apparel again

2/28/2010 3:11:31 PM

Port Washington, N.Y.--The women's apparel market in the United States declined in 2009, but the fourth quarter of 2009 showed a lesser dip of 3 percent, suggesting that the market momentum may be shifting, according to market research company The NPD Group.

According to NPD's latest study, a recovery in women's apparel market means a recovery in fashion sales, in general (which could be good news for jewelry and other accessories).

"For the fashion industry this is a very important sign," Marshal Cohen, chief industry analyst for The NPD Group, said in a media release. "As go women shoppers, so goes the total fashion market."

According to Cohen, women represent just above 50 percent of total fashion market sales and account for almost 25 percent more in the purchases they make for others. Without them, he said, a true recovery would not be possible.

NPD revealed that for all of 2009, the U.S. apparel market posted a 5.1 percent decline, but according to figures from NPD's Consumer Tracking Service, one demographic in particular continued to hold fast in their spending: Middle-income consumers, those with annual incomes of $25,000 to $75,000, made apparel purchases that were even with those made in 2008.

Meanwhile, the demographics showing the deepest declines in apparel spending were upper-income consumers, whose spending was down 9 percent, and teens without income, whose spending was down 20 percent.

Cohen said in the media release that NPD expects a lull in apparel spending for the first few months of 2010, followed by gains in the months after.

"Between 'frugal fatigue' and pent-up demand, the consumer is spending, but we will likely see a lull in February and March as they wait for their credit card balances to recover from holiday and January sales," Cohen said. "Then, come the change in the weather, late March and April, consumers will likely be assessing their wardrobes and opening their wallets a little bit, again."

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