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2024 US FASHION CONSUMER OUTLOOK
Crafted to empower and enlighten fashion professionals, the 2024 US Fashion Consumer Outlook is based on a nationally representative survey of US consumers and industry stakeholders. It delves into the intricacies of ever-evolving consumer spending across the mass-market, mid-market, luxury, and secondhand markets.
Explore topics such as the major shifts that will define the US fashion market, the categories US consumers are planning to spend in, what motivates consumers to make purchases, and more. This informative narrative holds the key to connecting with and understanding your 2024 consumer.
Take a glimpse into the topics covered in the report.
Fashion ranked among the top five categories consumers intend to spend on in 2024
Consumers’ top discretionary spend categories
Brand capital comes to the foreground as conflicting macro factors usher in feelings of cautious optimism
The US fashion market faces conflicting macro factors in 2024 — higher economic growth and lower unemployment rates will be juxtaposed by higher prices, interest rates, and global supply chain risks. Despite an expected increase in fashion sales, consumers are looking to spend strategically. Retailers will seek to raise prices rather than push volume. To strengthen emotional connections with customers, brands will deploy more effective storytelling and cultivate more memorable shopping moments.
“I think that physical retail is very important for the future. I do think that we’re seeing more people wanting to come in and be in discovery mode [in-store]. [Customers want to increasingly go] through the customer journey that way instead of clicking online, waiting for something to arrive, and then wanting to return it because it doesn’t fit [or] isn’t as expected.”
-Linda Ashman, EVP (Americas) at Bogner
Online will continue to gain share of fashion sales, but in-store shopping remains dominant
Consumers’ top sources of inspiration on what fashion to buy
Young consumers are more likely to shop for fashion ahead of special occasions or to secure coveted, limited-edition items
Discover more in the full report
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Explore the report in its entirety to unpack the insights that will inspire and inform your 2024 decision-making.
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