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.