Sales are expected to increase, and spring is coming for the US apparel industry

As the weather warms and vaccinations increase, the outlook for the retail industry has brightened . The National Retail Federation and Planalytics are optimistic about the outlook for 2021 and expect apparel sales to pick up around Easter and beyond.

The National Retail Federation and Planalytics previously predicted that retail sales this year are expected to grow 6.5% to 8% to $4.3 trillion, a level not seen in 17 years.

According to WWD, in a webinar Thursday afternoon, Katherine Cullen, senior director of industry and consumer insights at NRF, said that despite the pandemic, retail sales actually grew 6.7% last year . However, the apparel industry has been a laggard, with sales down 14.9% since the beginning of the year.

Although apparel sales were weak at the beginning of the year, as temperatures warm up and the number of vaccinations increases, more people will attend in-person gatherings , and sales in the apparel industry are expected to improve . In addition, the upcoming Easter holiday will also boost the apparel industry .

“There’s a lot of momentum heading into the spring and holiday season, with new stimulus funding from the American Rescue Plan, positive trends in vaccinations and growing consumer confidence, ” said NRF President and CEO Matthew Shay .

Cullen said Easter gifts, food and candy are expected to be the largest categories this year, but consumers surveyed said they also plan to spend $30 to update their wardrobes, compared with $27 in 2019.

Evan Gold, executive vice president of partnerships and alliances at Planalytics, said that while there is still a lot of uncertainty about the pandemic and other macro issues, changes in weather have a big impact on retail sales .

Gold said that February was the coldest month in the United States in six years, and March will be cooler but also drier for most of the country. Temperatures in the West should be higher than usual during the Easter period . Gold believes that as temperatures continue to rise in April, consumers will start to buy new wardrobes as they will get out of the house, enjoy the warm weather and meet up with family and friends.

In summary, as the weather warms up and the number of gatherings increases, clothing sales will continue to grow. In addition, according to sales data in February, although the overall sales of the US clothing industry declined, online sales increased by 47% year-on-year. Therefore, online sales will still be one of the main channels for clothing sales.

USA

Clothing Industry

NRF