Welcome to the new age; the Menaissance is here, and it’s brought a new type of menswear consumer with it.
According to Mintel, the menswear market in the UK alone is now worth £15bn per year and with a projected growth of 11% in the next three years, it’s growing much faster than it’s (much larger) cousin, the womenswear market has ever done. In fact, experts are predicting the menswear market to outgrow the womenswear market as soon as 2021.
Bearing up against the stereotypes of fashion as a predominantly “female industry”, menswear has proven its resilience, where the womenswear market seems to have outgrown and exhausted itself.
And it seems to be a shift in overall culture that’s driven this. Where once men were limited to a three-piece suit in black, grey or navy, or failing that, a certain utilitarian “uniform”, men’s workwear is changing into a much more everyday affair. Whilst some jobs still do call for a uniform of sorts, a rise in flexible and remote working, as well as relaxed office dress codes has presented new opportunities for the male fashion lover to fill his wardrobe with more variety and buy clothing that’s appropriate for more than just the weekend.
Combine this with the growing important of social media which has engaged a new, more aesthetic male consumer and you’ve got yourself a whole new market. As the internet educates and encourages men to make more “daring” fashion choices, trends in the sector are moving at an ever-increasing pace.
Having said that, the priorities of the male fashion consumer are still different from that of their female counterparts. Men’s styles are still functional at the core, with an aesthetic twist in the form of a new shape, a brighter colour or more intricate design details. What’s more, they’re looking for quality, not quantity, choosing the brands that offer them the best value for money.
Streetwear is another key driver of the menswear boom. It’s a much more approachable form of fashion that can be as smart as it is comfortable, whilst the high-end brands producing these styles offer men the quality and durability they’re looking for.
Discover the trends and get the latest insights on the menswear market at Jacket Required AW20 – coming to the Old Truman Brewery on 22nd and 23rd January 2020.
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