(Filed Under wholesale Men's Underwear News). Strong sales in underwear, socks and other basics categories fueled a 3.3 percent gain in the men’s apparel market during 2010, beating out the 3 percent gain in women’s apparel and the 1.9 percent total apparel market jump, the NPD Group Inc. found in a new report.
According to the market research company, men’s apparel was particularly strong during the most recent three-month period ended in February 2011, when the category increased 12 percent. During this period, men’s underwear and socks were up 14 and 11 percent, respectively, in dollar volume sales.
Men’s “dress-up” categories also fared well during the three-month period. Tailored clothing, dress shirts and neckwear rose about 30, 9.7 and 26 percent, respectively.
“This is a very healthy growth rate and a clear sign men are looking to rebuild their wardrobes,” said Marshal Cohen, chief industry analyst for NPD. “Based on what we are seeing in the recent market data the categories that are going to prosper are those that are a combination of basics and replenishment as well as some impulse and fashion categories. Not only are men getting their basics back in order but it looks as though men are starting to spend outside of basics and join the overall consumer trends that are focused on getting healthier and buying more comfortable lifestyle products.”
Also during the three-month period, specialty stores selling men’s apparel garnered the biggest dollar share of the market with 30 percent, followed by a 16 percent increase for mass merchants, and a 15.7 percent increase for department stores. Online and factory stores posted the highest dollar volume sales growth.
“Look for online, factory outlets, and specialty stores to continue gaining market share and post growth throughout 2011,” said Cohen. “These stores have done a good job of retaining their customers during the recession and now, as the consumer is feeling more confident, they are starting to get them to buy on impulse which is a key ingredient for continued growth.”
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