Edited has released reports analysing the latest data for the future trends of workwear and the men's loungewear market.
Is there still a demand for workwear?
Overall, the women's workwear offering was down 40 percent year-over-year (YoY), however, the sell out rate was down 20 percent. This showcases that while retailers decreased inventory, sales have not dipped as drastically, according to Edited.
Similarly, for traditional men's workwear there was a 38 percent decrease. The proportion of discounts is a significantly higher YoY, except average percent off was higher in 2019 at an average of 51 percent compared to 2020.
Six key markets and opportunities to recapture the workwear market include: special sizes, desk to dinner outfits, the capsule closet, commuter styles, working from home (WFH) uniform and employee features, several retailers have featured their own staff sharing advice for style tips.
Post-covid will see consumer trends such as hybrid clothing, investing in clothes with longevity in mind and fabric innovation.
What’s in store for the future of men’s loungewear?
Across Edited users, loungewear searches were up 855 percent YoY, while activewear searches were down 17 percent.
Sweatpants had the highest sellout rate as consumers sought a balanced WFH wardrobe prioritising comfort on the bottom and a smarter top half. This category also saw the most products discounted, suggesting that pricing should be reconsidered, said Edited.
Five menswear trends selling well right now include: tie dye, soft pinks, sporty side stripes, colour-blocking and adaptable tv trends.
According to Statisca, the global loungewear market is estimated to generate 37.7 billion dollars in retail sales in 2021.
Post-covid will see consumer trends such as cardigans, lounge shirts, sustainability, fabric blends and underwear, which according to Statisca the US boxer brief market is expected to rise to 1.03 billion dollars by 2025.
Photo credit: Edited