‘Fash­ion­able Males’ the Key for Re­tail Sur­vival?

WWD Digital Daily - - In Focus: Business Insights - BY EL­IZ­A­BETH DOUPNIK

The de­mo­graphic is gob­bling up new styles, ac­cord­ing to a new YouGov re­port.

Let’s hear it for the boys. Men's wear con­tin­ues to be an ex­cit­ing cat­e­gory due to a surge of “fash­ion­able males” who are con­sum­ing and ex­per­i­ment­ing with new trends nearly as fast as women, a new YouGov re­port said. This male mi­cro­cosm is deeply ac­tive on so­cial me­dia — to dis­cover new looks, no less — and vis­its phys­i­cal stores weekly. This seg­ment widens op­por­tu­ni­ties for re­tail­ers and brands to strengthen al­ter­na­tive rev­enue chan­nels that might have been pre­vi­ously un­tapped and over­looked un­til re­cently.

“A par­tic­u­lar seg­ment of men stand out for their fash­ion­able life­styles and propen­sity to spend money on clothes. These fash­ion­able, city-dwelling young men make up just one per­cent of the U.S. pop­u­la­tion but fre­quently spend more than $200 on clothes ev­ery three months, and two in five say they visit cloth­ing stores weekly,” the re­port said.

The find­ings were part of a larger YouGov re­port, “The Face of Fash­ion: An Anal­y­sis of U.S. Con­sumer Per­cep­tion To­wards the Ap­parel and Footwear Sec­tor.” YouGov ex­tracted the data from its YouGov Cube plat­form — a “data vault” that in­cludes 280,000 vari­ables that is col­lated from more than 200,000 U.S. pan­elists.

The re­port de­fined “fash­ion­able males” as

liv­ing in a city, cued into present trends, and who pur­chase a least a few new items ev­ery sea­son, the re­port said. What's par­tic­u­larly key about these con­sumers: they have $1,000 more in monthly, dis­pos­able in­come com­pared to the na­tional av­er­age. This marks ma­jor op­por­tu­nity for re­tail­ers and brands to build on­go­ing loy­alty with the set for con­sis­tent rev­enue gains.

Un­sur­pris­ingly, the re­port found that these con­sumers are deeply dig­i­tal-first in prod­uct in­ves­ti­ga­tion, com­par­i­son and pur­chas­ing. “That's ev­i­dent among fash­ion­able young men, who are more likely to browse

Ac­cord­ing to the re­search, 32 per­cent of the set “saw some­thing on­line and bought it on­line, 24 per­cent saw some­thing on­line and bought in-store, and 13 per­cent saw some­thing in-store and bought it on­line.”

What's more, brands are able to at­tract these trend-savvy con­sumers with strate­gic, spon­sored con­tent. “Nearly three-quar­ters of this group en­gages with spon­sored con­tent — whether it be to get more in­for­ma­tion about a prod­uct, fol­low a brand on so­cial me­dia, share news about a prod­uct with friends or fam­ily, or buy the prod­uct,” the re­port said.

By be­ing ac­tive in the so­cial chan­nels in which these fash­ion­able males are deeply en­gaged, re­tail­ers and brands stand to gain not only val­ued at­ten­tion from the set, but also dol­lars.

Street style at Paris Fash­ion Week Men’s Spring 2019

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.