(Filed Under wholesale Hosiery News). “The total U.S. hosiery market, which includes sheer hosiery, tights, and socks, grew 3 percent to $7.3 billion in the 12 months ending May 2015,” according to the NPD Group.
The market research firm added that “the age group experiencing the most growth, millennials (ages 18-34), saw sales increase by 12 percent over the same time period.”
“While tights and socks have enjoyed consistent gains in recent years, sheer hosiery had been the segment that struggled until recently. millennials now represent 27 percent of the $482 million sheer hosiery market – a revival that is notable,” NPD reported.
“On average, consumers buy 1.4 sheer hosiery items per purchase, with tops being the apparel item most included with these purchases, according to data from The NPD Group’s Checkout Tracking, a new service that provides comprehensive information on consumer buying behavior at the market basket-level based on receipts for online as well as brick-and-mortar retail purchases.” NPD concluded that “ From a demographic standpoint, millennials are more likely to attach socks to their sheer hosiery purchase than non-millennials.”
The study also revealed that “While millennials tend to purchase their hosiery from mass merchants, and consumers age 35 and up are more likely to purchase from department stores, it is the off-price and direct mail/ecommerce channels that represent the majority of the sales growth for sheer hosiery in the 12 months ending May 2015.”
Marshal Cohen, NPD’s chief industry analyst, stated “millennials are changing the game for hosiery, just as they are in categories throughout retail, but they are also playing by different rules. Traditional thinking and marketing approaches don’t apply to this consumer segment – it’s about being different, and marketers need to follow suit, even in a category with a strong heritage.”
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