Here are the top reasons you (and everyone else in US) are not buying clothes anymore:
- Clothes are boring- regardless of price, what can you buy that you don’t already have in your closet?
- “Low prices are not fun anymore”- As CNBC reported in October of this year, “Consumers have reached peak happiness with clothing purchases” “In other words, consumers already own so many clothes that each new item they purchase doesn’t spark happiness.”
- Consumers have given up on department stores as a location for fashion inspiration- As you can see from the below chart, by age group, between 34% to 51% of Macy’s consumers have given up shopping there in favor of TJ Maxx, Target, Amazon, etc.
- There is too much to look at online; what should I buy?- The Paradox of Choice has betrayed us by giving us so many choices we don’t know what to believe anymore.
- Clothes are disposable- So I buy this heavily discounted clothing, and a few months later, I find that either I don’t like it anymore or it looks like crap.
Does this mean consumers are just not spending money? NO. In fact, for example, Millenials have increased their total annual expenditure by 233% since 2013. Yet, total apparel industry revenue has declined since then. So what are they spending their money on? NOT clothing.
CNBC again: ““Put simply, consumers would rather spend their marginal dollar on, say, going out for a meal, than on buying a 60th item of clothing in a year,”
But we all love clothes- IF they make us feel happy, appreciated, powerful, individual. Can anyone deny this? Social movements have all expressed themselves with clothing and style; in the 60’s and 70’s, the social revolution expressed itself dramatically in a change of style. Today, we have the LGBTQ and women/minority social revolution, which will have much more of a lasting impact on society and the male/female persona than any other in the last 50 years at least.
AND, if we can feel that each purchase of clothes is an investment, not a fast-food purchase, we might actually buy more.
Finally, at the same time, the sales and penetration of luxury brands has increased significantly.
So, what does this tell you about what you should do to rid yourself of disposable clothing and to begin to build a stable wardrobe of stuff that makes you happy when you wear it and will continue to support you as a wardrobe foundation?
But First- Wait, let’s be clear-tell me if you don’t agree- great clothing makes you happy every day.
- Throw out your disposables- First, throw out all those items in your wardrobe that you were seduced to buy because of 50% + another 20%, sale ends today, etc.
- Buy VALUE, not PRICE- Focus your expenditure on items that will satisfy your expectations, not just your wallet.
- Don’t buy anything that doesn’t make you happy every time you wear it- The self-esteem generated by a bargain will never match the self-esteem which you get from a really great garment.
- Understand that, in today’s global marketplace, luxury is AFFORDABLE for most of us- Don’t be afraid- you don’t need any tax returns or certification to buy excellent clothing.
- Interact with your chosen providers; they are anxious to hear from you (or should be)- Today, the customer is the CEO- make your wishes known.
There is no better way to express yourself than through the clothes you wear. Period.
So let’s find a way to build our own custom presentation through clothing. You can!
We have made affordable luxury and sustainability a priority in our shirt business: https://www.lotusandmichael.com.