Rising menswear sales defy retail gloom
Menswear is bucking the dismal retail trend with overall sales in the category rising 3% over the past six months.
Price increases helped boost sales to £4.56bn in the 24 weeks to May 13, according to Glen Tooke, client analyst Kantar Worldwide.
The research found that branded menswear sales grew at a higher rate than own label over the period, with total spend on branded menswear up 4% from £1.61bn to £1.67bn. Sales of own labels increased 2% from £2.82bn to £2.89bn.
The figures also show that retailers are increasing prices, with the average price of menswear up 9%. The average price of branded menswear rose from £17.36 to £18.86 and the average price of own label grew from £9.45 to £10.26.
However, the total volume sold across menswear fell 6% over the period with own-label sales volumes taking a larger tumble than branded sales. The volume of branded sales fell 4% to 88.7 million units, whereas own-label sales fell 6% to 281.6 million units.
At department store chain John Lewis, the branded menswear offer is undergoing an overhaul in a bid to attract a younger customer.