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Edited has released reports analysing the latest data for the futuretrends of workwear and the men's loungewear market.
Overall, the women's workwear offering was down 40 percentyear-over-year (YoY), however, the sell out rate was down 20 percent. Thisshowcases that while retailers decreased inventory, sales have not dippedas drastically, according to Edited.
Similarly, for traditional men's workwear there was a 38 percentdecrease. The proportion of discounts is a significantly higher YoY, exceptaverage percent off was higher in 2019 at an average of 51 percent comparedto 2020.
Six key markets and opportunities to recapture the workwear marketinclude: special sizes, desk to dinner outfits, the capsule closet,commuter styles, working from home (WFH) uniform and employee features,several retailers have featured their own staff sharing advice for styletips.
Post-covid will see consumer trends such as hybrid clothing, investingin clothes with longevity in mind and fabric innovation.
Across Edited users, loungewear searches were up 855 percent YoY, whileactivewear searches were down 17 percent.
Sweatpants had the highest sellout rate as consumers sought a balancedWFH wardrobe prioritising comfort on the bottom and a smarter top half.This category also saw the most products discounted, suggesting thatpricing should be reconsidered, said Edited.
Five menswear trends selling well right now include: tie dye, softpinks, sporty side stripes, colour-blocking and adaptable tv trends.
According to Statisca, the global loungewear market is estimated togenerate 37.7 billion dollars in retail sales in 2021.
Post-covid will see consumer trends such as cardigans, lounge shirts,sustainability, fabric blends and underwear, which according to Statiscathe US boxer brief market is expected to rise to 1.03 billion dollars by2025.
Photo credit: Edited