Men’s clothing market growing twice as fast as women’s, figures show
Young men are more likely than young women to have bought footwear in the last quarter.
The UK male clothing market grew at twice the rate of the women’s equivalent last year, figures coinciding with the start of London Fashion Week Men’s show.
The menswear market is estimated to have grown by 2.8% in 2016 to hit £14.5 billion, compared with the 1.3% rise seen in the women’s market, analysts Mintel said.
However the menswear sector still only accounts for 27% of the total clothing market, trailing behind womenswear sales which reached £27.25 billion.
A Mintel survey found that young men are more likely than young women to have bought footwear in the last quarter, with the rising popularity of trainers driving men’s footwear sales.
Meanwhile, men aged 25 to 44 have overtaken women of the same age when it comes to buying clothes in the three months to December 2016, at 47% compared to 43%.
Mintel has forecast a 12.3% increase in menswear sales between 2016 and 2021 to reach £16.3 billion.
Mintel senior fashion analyst Tamara Sender said: “More retailers and brands have been tapping into the growing menswear market by expanding their men’s clothing offer, as well as launching stores and separate websites dedicated to men’s fashion.
“Millennial men are also becoming more demanding, wanting higher quality pieces, frequently updated collections and unique designs, and they will choose to buy clothes from those retailers and brands that step up to the plate.”
Today sees the start of London Fashion Week Men’s Spring/Summer 2018, which is now in its fifth year.
The five-day menswear extravaganza will see international and home grown designers present their collections at locations across the capital.
:: Lightspeed surveyed 993 men online in December.