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Interestingly, JLL鈥檚 report found that department stores ranked as consumers鈥� most popular destination for holiday shopping this year (57.9%), followed by apparel stores (50.1%) and mass merchants (45.9%).

Gen Zer respondents also seemed uninterested in shopping for material goods like clothing鈥攖hey preferred staying home to watch shows and movies. This could reflect an adjustment of their behavior to meet their financial goals. What this means for banks: Gen Zers鈥� goal of achieving financial stability consistently ranks high as a top goal across various surveys.

If you haven鈥檛 gotten your virtual feet wet yet, initial genAI use cases like internal employee assistance chatbots or additive features like fashion retailer Zalando鈥檚 outfit recommender pose less risk than replacing core functionality. 鈥淭here are safer use cases where retailers can test the water,鈥� Perkins said. 4. Be aware of the limitations.

Total retail sales include the sale of clothing and accessories for men, women, and children, household goods, furniture, cosmetics, and other consumer products made via liverpool.com.mx, suburbia.com.mx, and over the telephone.

French fashion retailers Kiabi and G茅mo have launched secondhand and resale initiatives to tap into demand. Repair initiatives will also likely gather steam as the French government plans to reimburse consumers for part of the cost of mending clothing and footwear items. Clothing retailers will need to prioritize sustainability.

For Gen Z, physical stores were the top awareness drivers in all nine product categories we track, including clothing, shoes, and accessories. The physical store is the most common way for Gen Z to convert, over websites, mobile apps, and social media.

Even less traditional luxury players, like fashion ecomm Revolve, are considering tapping the potential of strategically located brick-and-mortar retail. Many of the new or potential high-end retail stores are cropping up in established (and often European) destinations as growth in China continues to soften.

Fashion resale marketplace Poshmark introduced visual search for its users. 鈥淭ools like visual search can be especially helpful [in resale], both for buyers who might see a product, might just want to be able to use their camera and match it as well as for sellers who can take a photograph of their product,鈥� our analyst Sky Canaves said on a recent 鈥淩eimagining Retail鈥� podcast.

Fashion and luxury executives are most bullish on the Middle East. McKinsey and the Business of Fashion (BoF) reported 88% of fashion executives anticipated the region鈥檚 prospects to be the same or better in 2023 than in 2022, 10 percentage points higher than in North America.

How fashion brands are using Discord, Substack, and Facebook Groups. Apparel companies thredUP, Stitch Fix lean into AI and optimized marketing mix to jumpstart growth. Note: Retail formats vary by digital platform and include peer-to-peer, consignment, and direct sales.

Visits to apparel retailers are also up, a positive sign consumers may seek deals on clothing, shoes, and accessories. The price must be right: Consumers this year have been holding out on nonessential purchases at pet, office supply, and home improvement stores, meaning retailers may need to lean into deals to inspire discretionary purchases, per Placer.ai.

Slow growth: One reason we expect modest growth is that two of the primary back-to-school categories, consumer electronics and apparel, have had middling results this year. Through the first five months of the year, electronics and appliance store sales are down 2.7%, while clothing and clothing accessories stores are up just 1.0%.

When it introduced the Nike Zoom Vaporfly 4% shoe, which uses carbon-fiber plates to propel runners forward, helping them run faster and save energy, the shoe (and following iterations) have become standard fare at any race, Canaves said. Nike fosters its running community in a few ways. It uses its stores as an event space to host local running clubs, fashion shows, and meetups for runners.

Positive online ratings or reviews are the most influential part of the path to purchase for clothing and shoes shoppers, according to our June 2024 survey. If shoppers trust reviews on retailers鈥� sites less, they will look elsewhere. 鈥淧eople are looking for conversational platforms to get ideas or read product reviews,鈥� Strickland said.

These experiences, and the backlog of special events such as weddings, are also bolstering spending in apparel, footwear, and accessories. This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.

Yeah, the biggest things I have in mind are fitness and fitness-related apparel, beauty and skincare, organizational and self-betterment. And then there's something we haven't touched on which is related to CPG, which is dry January. We've seen that become more and more popular. I don't know if you'd consider dry January a New Year's resolution.

It also offers Be Your Own Model, which enables a shopper to use their own photo to better visualize how clothing will look on them. This summer it plans to build on those tools with the launch of Shop With Friends, which enables shoppers to mix and match apparel items to create virtual outfits on a model with similar sizing and shape, then ask their friends for feedback on their looks.

When analyzing the performance of MNTN advertisers across multiple verticals, including fashion and apparel, home and garden, and travel, we found that all saw increased performance metrics within the past year.

The number of US buyers on fashion resale sites like Depop and Poshmark will rise to nearly 40 million in 2023, per our forecast鈥攖hanks in large part to Gen Z customers. Many seek out vintage or second-hand clothing and accessories because they align with their sustainability values while also delivering deals, including on more expensive luxury goods.

Health & personal care and apparel & accessories: Both categories saw solid gains with consumers spending heavily on new clothes and cosmetics as they returned to their offices, ventured out on trips, and engaged in other experiences such as dining out. That helped the health and personal care category鈥檚 sales rise an estimated 9.1% and apparel and accessories grow 5.6%.