For American consumers aged 35 to 54 years, the online shopping trend is prevalent with a preference for various e-commerce sites (22%). They also show interest in Department stores (20%) and Big Box Stores (16%). Unlike Gen Z, there is a lower demand among this age group for outlet or discount stores, secondhand stores, specialty stores, and fast fashion stores.
(Reference: statista.com)
Despite different generations, clothing shopping trends remain quite similar. People aged 25 to 34 lean towards online shopping, big box stores, and department stores for their apparel needs.
By Product Category
(Source: optinmonster.com)
When it comes to online shopping, women exhibit a higher inclination towards clothing than men do, with a preference rate of 40%. In contrast, men show a preference for booking travel and holiday accommodations.
Money Spent On Clothes Statistics Spending Pattern
The average yearly family expenditure on clothing in the USA amounts to $1,700, with individual spending averaging $1,932.
Additionally, women’s clothing expenditure can reach $2,000 per year on average.
The average monthly expenditure on adult clothing is $161, totaling $1,700 annually.
Similarly, American women allocate an average of $2,000 annually for clothing purchases.
By Monthly Amount Spent On Online Clothing Purchases
(Reference: statista.com)
According to the statistics of Money Spent On Clothes in 2023, 25% of American online clothes shoppers spent between $51 to $100, while 23% spent between $1 to $200 in a month. Only 2% of buyers splurged over $1001 on clothing per month.
By Leading Second- Hand Apparel Online Shops
(Reference: statista.com)
In the USA in 2023, Goodwill emerged as the primary second-hand apparel online shop with 69% brand awareness. Urban Outfitters and Poshmark followed closely with 67% and 64% awareness, respectively. Other notable brands included thredUP, TheRealReal, Depop, Swap.com, Goodfair, and FARETECH, among others.
By Spending Per Online Shopper By Category
(Reference: statista.com)
By general apparel, the average spending per online shopper worldwide is $2.51. The highest spending for categories includes Home furniture $3.42, health and beauty $2.85, and home appliances $2.7.
By Online Shopping
(Reference: capitaloneshopping.com)
Regarding global apparel shopping, the cart abandonment rate is 77.5%, while the purchase completion rate stands at 22.5%. For online clothing purchases, 79.2% of customers retain the product they receive, with 20.8% opting to return it to retailers.
By Devices Used In Online Shopping By Product Category
(Reference: capitaloneshopping.com)
Mobile is the primary choice for online shopping in segments like apparel, beauty and personal care, luxury and jewelry, home and furniture, with over 70% contribution in these categories, followed by desktop and tablet.
By Deciding Factors
(Reference: statista.com)
Money Spent On Clothes Statistics show that the price of the product is the top deciding factor for Americans when shopping for clothes, accounting for 83%. Ratings and reviews from previous buyers (77%) and product images (59%) are also significant factors. American shoppers also consider return policies, brand-provided images, shipping times, brand reputation, and recommendations in their purchase decisions.
Conclusion
The fashion industry, especially clothing, is influenced by market trends. Fashion is not just limited to the entertainment and media sectors but is an integral part of people’s lives, driving regular shopping behavior. Digitalization has significantly boosted spending on clothes through eCommerce sales. Today, the garment industry has crossed a trillion dollars globally, reflecting the ever-changing market trends that drive consumer spending.
until the market faces a stagnant phase.
[3px] border-t-[3px] p-4 border-[#1d598f] my-4″ style=”box-shadow: 0 0 14px rgb(9 38 66 / 8%);”>
Sources
How much is the Clothing industry valued in 2024?
The apparel market around the world is valued at $703.11 billion and is expected to grow at a CAGR of 7.2%.
Who shops more clothes men or women?
According to a report by LinkedIn, women are more likely to do clothing shopping than men.
What is the average money spent on clothes every year?
Every year in the US, men spend around $325 while women spend $545 on clothing shopping.
Â
Â
Thank you for reading this article titled: Money Spent On Clothes Statistics 2024 By Demographics, Generation And Monthly Amount Spent
Data is from 2023 and 2024 and forecast data is for 2025 and 2026. We also expand the forecast data to 2027 and 2028.
Â
* This information was taken from various sources around the world, including these countries:
Australia, Canada, USA, UK, UAE, India, Pakistan, Philippines, Indonesia, Nigeria, Tanzania, Kenya, US, United Kingdom, United States of America, Malaysia, U.S., South Africa, New Zealand, Turkey, United Arab Emirates.
Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan.
Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Bouvet Island, Brazil, British Indian Ocean Territory, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi.
Cambodia, Cameroon, Canada, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, China, Christmas Island, Cocos (Keeling Islands), Colombia, Comoros, Congo, Cook Islands, Costa Rica, Cote D’Ivoire (Ivory Coast), Croatia (Hrvatska), Cuba, Cyprus, Czech Republic.
Denmark, Djibouti, Dominica, Dominican Republic, East Timor, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, France, Metropolitan, French Guiana, French Polynesia, French Southern Territories.
Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Heard and McDonald Islands, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy.
Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, North Korea, South Korea, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg.
Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montserrat, Morocco, Mozambique, Myanmar.
Namibia, Nauru, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand (NZ), Nicaragua, Niger, Nigeria, Niue, Norfolk Island, Northern Mariana Islands, Norway.
Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Puerto Rico, Qatar, Reunion, Romania, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and The Grenadines, Samoa, San Marino, Sao Tome and Principe.
Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Georgia and South Sandwich Islands, Spain, Sri Lanka, St. Helena, St. Pierre and Miquelon, Sudan, Suriname, Svalbard and Jan Mayen Islands, Swaziland, Sweden, Switzerland, Syria.
Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates (UAE), UK (United Kingdom), USA (United States of America, U.S.), US Minor Outlying Islands.
Uruguay, Uzbekistan, Vanuatu, Vatican City State (Holy See), Venezuela, Vietnam, Virgin Islands (British), Virgin Islands (US), Wallis and Futuna Islands, Western Sahara, Yemen, Yugoslavia, Zaire, Zambia, Zimbabwe.
Â
Â
Post Title: Money Spent On Clothes Statistics 2024 By Demographics, Generation And Monthly Amount Spent
Last Updated: September 6, 2024
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=66e2bb6dc7c5492680af2808c65b25e4&url=https%3A%2F%2Fhollywoodgazette.com%2Fmoney-spent-on-clothes-statistics-html%2F&c=2659792416900047170&mkt=en-us
Author :
Publish date : 2024-09-11 22:55:00
Copyright for syndicated content belongs to the linked Source.
