Denim brands in the US are a little worried about the declining demand for denim in the market, as penny-pinched shoppers opt for more formal attire and non-denim styles instead of more expensive jeans. “While macro pressures have not impacted all apparel categories equally, denim has been a category feeling the brunt of a change in consumer spending patterns,” stated Citigroup analysts, in a note.
US consumers are cutting back on non-essential purchases like clothing as a result of high inflation and an impending recession. Despite 2021’s high demand, the denim industry is predicted to cool off in the following year.
As per Coresight Research analyst Sunny Zheng, although the market expanded by 12.5 per cent over the previous five years, it is expected to only have 3.8 per cent growth from 2022–2027.
American Eagle Outfitters and Abercrombie & Fitch, two major clothing retailers, have both noticed a rise in sales of corduroy and cargo pants as their customers diversify their bottoms beyond denim. Additionally, Levi Strauss & Co. is expected to report fourth-quarter sales of US $ 1.57 billion, a 6.6 per cent drop from a year earlier, according to analysts polled by Refinitiv.
Halie LeSavage , Fashion Commerce Editor at Harper’s Bazaar stated that consumers prefer more wide legged trouser-like silhouettes. Clothing retailers American Eagle Outfitters and Abercrombie and Fitch have also recently specified that shoppers are buying more cargo pants and corduroys as they refresh their wardrobes with more non-denim bottoms.
