While men spent a little more on clothes last year, with dollar sales inching up 1% to $57 billion, unit sales declined 3%, according to the latest from NPD Group. Sales of socks and underwear, however, are way up, gaining 12% and 13%, respectively.
“This year, men started to feel comfortable about taking more fashion risks,” the Port Washington, N.Y.-based market researcher says in its report. “They invested in 'dressing down’ with spending on colorful socks and bottoms.”
While men made 5% fewer clothes-shopping trips, they were responsible for 65% of purchases, with online, manufacturer-owned and off-price retailers all gaining share. Fewer shopped at national chains or mass merchandisers.
advertisement
advertisement
eTailer Blacksocks sells men's socks by sockscription. The European based company is starting to gain traction in the US-so this piece is interesting. Blacksocks is also the first to offer this concept and now lots of companies have adopted this model. Who would ever think retailing for men and in general would change this much.