US: Low price and right fit drive jeans market
Retailers and manufacturers hoping to grow their business in the US jeanswear market should focus on low price points, different styles and the right fit, new research suggests.
According to Mintel's latest report 'Shopping for Jeans,' more than three in ten adults in the US own between four and six pairs of jeans. Meanwhile 19% own seven to nine pairs and a 17% own more than ten pairs of jeans.
"While jeans tend to be a fairly static item in most consumers' wardrobes, the category itself has been dynamic in terms of innovations in style, brands, features and overall product offerings," says Ali Lipson, senior retail and apparel analyst at Mintel.
"With such market triggers as more casual work environments, the obesity epidemic demanding plus size jean options and the growing Hispanic population and their purchasing power, we can expect to see this clothing category continue to grow."
Nearly half (46%) of all jeans owners surveyed for the report say they have spent between $25 and $49.99 on a single pair of jeans.
Furthermore, 39% say they spend less than $25, while the average amount to spend on jeans is just over $34. This low price point is important for retailers to recognise if they want to reach the mass market.
In addition, nearly 60% of Americans who have purchased jeans in the last year did so to replace an old or worn out pair, while some 35% bought them to update their wardrobe. But for 28%, just liking the jeans triggered a purchase.
Some 19% say they bought them to wear to work, which is an indication that office environments are allowing a more casual dress code or offering a dress down day for employees, while another 19% bought a pair to wear when going out.
Jeans are no longer just a casual article of clothing, but are often used when dressing up, too.
More than four in 10 (42%) jeans owners say they have difficulty finding a pair that fits well - with 16% of consumers willing to pay $100 or more for jeans with a great fit.
However, 64% of shoppers say that price/discount is the most important factor when buying jeans and 71% think most jeans are overpriced.
"While many consumers already own several pairs of jeans, there are opportunities for them to purchase additional pairs, either for replacement or to have a greater variety in their wardrobes," adds Lipson.
"Retailers and manufacturers need to pay careful attention to price point and different styles and fits to accommodate the large consumer base for this category."
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