Boston, MA -- (ReleaseWire) -- 07/18/2014 -- In Australia, men have become more interested in and confident with fashion. In fact, industry sources report that men are shopping more for clothes as they are becoming more proactive and concerned with their fashion choices, and they want to know how they can dress better. One of Australia's top modelling agencies, Chic Management, reported that due to an increase in marketing spending for the male audience, there was an upsurge in work for male models in 2013, whilst fashion stylists have reported a two- or threefold increase of their male clientele. This has resulted in a 3% growth of menswear value sales and 1% growth in volume sales in 2013. Sales in the category were mostly driven by office attire, formal occasions and key events, such as the spring racing season.
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Despite a difficult year Pacific Brands led menswear sales in 2014 with a 7% value share. This was largely explained by the positive results from its underwear segment, particularly, its new Bond retail stores, and the performance of its premium footwear brands.
Menswear is anticipated to register CAGRs of 1% in both constant value and volume terms as male consumers increasingly continue to take charge of their clothing decisions. Despite the renewed interest in the category, employment and consumer sentiment, which usually provide signals for the demand of men's outerwear, are likely to have a negative impact on the category during the forecast period. In fact, it has been predicted by the Reserve Bank of Australia that unemployment will increase in the forecast period as the economy continues to grow below the trend pace.
Discover the latest market trends and uncover sources of future market growth for the Menswear industry in Australia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Menswear industry in Australia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Menswear in Australia market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Menswear in Australia?
- What are the major brands in Australia?
- How dynamic is the growth of clothing and footwear internet sales?
- What is the performance of women's clothing vs men's clothing?
- What % of clothing and footwear sales goes through grocery retailers?
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Product coverage: Men's Outerwear, Men's Underwear, Nightwear and Swimwear.
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