The menaissance

The rise of man-shopping in five studly charts

March 11, 2014
March 11, 2014

Men are spending more money on clothing than ever before.

The global apparel industry has managed to weather economic slowdowns in a number of key regions, including North America and Europe, but it’s menswear that’s leading that charge. Men’s clothing outperformed women’s in a number of key markets, including the US, UK, and Germany, last year, according to a new report by Euromonitor. Worldwide, men’s apparel sales grew by just under 5% in 2013, just above the growth of womenswear.

You can call it what you like. Euromonitor calls it “the global menaissance.”

Menswear vs womenswear

And it’s actually been going on for quite a while. Men have been spending more on their outfits each year for well over a decade now—menswear sales, adjusted for inflation, are up 70% since 1998. The market is expected to top $450 billion this year.

Annual-spending-on-menswear-at-2013-prices-Mens-sales_chartbuilder (1)

They’ve been more willing to dish out a little extra extra cash on a few things in particular. Suits, “nightwear” (or pajamas and robes), and swimwear sales have each just about doubled since 1998:

What-men-are-spending-more-on-these-days-Sales-growth-since-1998-inflation-adjusted-_chartbuilder

All the extra attention men’s clothing sections (and sites) have been getting means that menswear now takes up a larger percentage of the overall clothing market—42% in 2013, compared to 38% in 1998. And it accounts for a quarter of the overall apparel and footwear market.

Menswear percentage of apparel market

What’s more, that growth in man-shopping may still be understated. The menswear category doesn’t include several other male accessories, including man-bags, which are becoming increasingly popular. Take into account the fast-growing man-purse market, which reached just under $9 billion dollars last year, and the rise of menswear is made all the more impressive.

Handbag-growth-forecast-2012-to-2018-Growth-2008-13-Sales-2013-bn-_chartbuilder

Top News

Powered by WordPress.com VIP
Follow

Get every new post delivered to your Inbox.

Join 20,030 other followers