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Are Men Finally Dropping Their Khakis?
Men are showing a growing affinity for new clothes, according to research that points to record growth in the men’s apparel category last year.
That boost is expected to extend into 2012 as well: Men’s apparel sales are projected to surge in the first quarter, according to a new analytics-based study from IBM Global Business Services, which is projecting an 8 percent increase in men’s apparel sales last year (versus about 2 percent for women).
Of course, women's apparel will still outpace men's, according to the projections, but analysts crunching the data point out that men, by all indications, are becoming more interested in dressing stylishly.
“Men are definitely developing a taste for fashion—especially in business attire,” notes Jill Puleri, global retail leader for IBM Global Business Services, in a release accompanying the research. “They’re tired of the "khaki pants and golf shirt" uniform that ruled many offices for the past couple decades. They’re looking to dress more stylishly—choosing items like skinny ties and suspenders that present a more polished look.”
The data, released Thursday and coinciding with the opening of Mercedes-Benz Fashion Week in New York, predict that, in addition to men’s apparel, first-quarter retail sales will see increases across a “broad spectrum of products,” and that those boosts will have a significant impact on merchants during the quarter.
IBM’s projection that the men’s apparel category will rise 8.21 percent in 2011 over 2010 would make last year the best year on record in terms of total sales of men’s apparel, according to retail analytics leader Mike Haydock. Footwear will see an increase of 3 percent, with final government data in all categories expected in February.
What's behind the increases? Personal disposable income continues to rise, and consumers are saving slightly less amid an increase in consumer confidence, IBM notes.
Teresa Novellino writes for Portfolio.com
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