Men's Clothing Stores in the US - Industry Market Research Report

Casual corner: The threat of online operators will negatively affect industry growth

Men's clothing stores have struggled heavily throughout the period. Beginning in 2020, COVID-19 crushed downstream demand for clothing stores, as consumers were required to lock down as the government identified how to weather the pandemic. As a result, men's clothing stores were shut down for the better part of a year, only to reopen to strict social distancing guidelines and mask rules, as COVID-19 remained a threat. Since much of the workforce had to stay at home, much of the workforce had no need for work clothes, dress clothes or even new clothes in general, resulting in a massive decline in revenue. As the country emerged from the pandemic and vaccines became widely available to the public, demand would partially return for men's clothing. More and more consumers began to return to work in person; however, public opinion on dress codes vastly changed, shifting to a more casual dress code entirely. Men's clothing stores faced another issue during the period, as e-commerce continued to encroach into the markets, siphoning a lot of demand from traditional clothing stores. Nevertheless, revenue for men's clothing stores is expected to fall at a CAGR of 5.7% to $11.1 billion over the five years, with a 2.5% decline in 2023 alone with profit set to remain at 1.3%. Men’s clothing stores retail a variety of men’s and boys’ suits, formal wear, shirts, t-shirts, casual slacks, jeans, sport coats, blazers, sports apparel, sweaters, overcoats, raincoats and accessories. Operators may also offer custom suits and other clothing through alterations such as hemming, taking in or letting out seams and lengthening or shortening sleeves. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.