Apparel and Footwear Spending Growth Continues to Decelerate

Print Friendly, PDF & Email

Consumer spending on apparel and footwear increased by less than 0.8% in March, according to recently released U.S. government data. This is the tenth consecutive month of declining growth in the combined category, and sixth straight month of less than 1 percent gains.

Spending growth on apparel lagged far behind total consumer spending on goods and services, which grew by 4.45%.

Footwear spending increased by 1.4%, capping eight consecutive months of declining growth, while consumption of apparel rose by a paltry 0.28% in the month.

Stagnant-to-declining prices for apparel and footwear are partly responsible for the sluggish growth. Apparel prices rose by only 0.8% in March, and footwear prices remained virtually flat, compared to a 2.4% increase in overall inflation.

Another factor in the flat apparel spending is consumers’ flagging demand for clothing and shoes relative to other more experiential categories like travel and dining out, and non-discretionary expenditures like housing, education and health care.


Recent News

Financial Roundup: Abercrombie Comps up on Hollister; Gap Rides Athleta, Old Navy to Sales Gains

Abercrombie & Fitch continues to rely on Hollister gains, while positioning the Abercrombie brand for similar success. Gap sales up on Athleta, Old Navy performance.

This content is for Annual, Monthly and Limited members only. You can read up to five free articles each month with a Limited Level Subscription. Please log in, or register.
Log In Register
Read more

“Uncertainty” Over Trump Policies Makes Frenemies of Importers, Domestic Producers

The domestic textile industry and apparel importers have often been on opposite sides of U.S. trade issues, but in today’s political climate they seem to have found some common ground.

This content is for Annual, Monthly and Limited members only. You can read up to five free articles each month with a Limited Level Subscription. Please log in, or register.
Log In Register
Read more

Lord & Taylor Teaming With Walmart, a Desperate Last Gasp or a Brilliant Move Toward the Future?

While everyone’s been focused on the "retail apocalypse," the real story to emerge from 2017 might be the strange bedfellows that have emerged as everyone tries to plot a course forward. The recent partnership between Walmart and Lord & Taylor is the latest to get people talking.

This content is for Annual, Monthly and Limited members only. You can read up to five free articles each month with a Limited Level Subscription. Please log in, or register.
Log In Register
Read more