According to a Bloomberg Report, there has been a drastic decline in the number of brick and mortar clothing stores. The physical locations of Wet Seal and American Apparel were among others to declare bankruptcy in recent years. Online shopping is to blame, as well as, in-person and online thrift stores. One in five people we surveyed also claimed they had purchased an item from a fellow member of a social media page.
According to the U.S. Bureau of Economic Analysis through Wells Fargo Securities, the annual amount the average American consumer spent on technology surpassed their yearly spending on apparel in 2010. Since then, this statistic has held steady.
There are a few reasons why clothing sales are plummeting:
More companies are switching to business casual. There is less of a need for neckties, suits and “workplace specific” clothing. Many of the business causal items can be worn on the weekends. Some companies skipped over the khakis and polos and went right to jeans and sneakers. A stat from the Society for Human Resource Management states that 45% of companies allow their employees to dress casual all the time.
“Fast Fashion” is the way to go. Consumers are turning to trendy and cheap alternatives like H&M which has grown from five brick and mortar locations to over 500 in the past 18 years and made $3.2 Billion last year alone. Being able to put together a “runway look” at a fraction of the cost is very appealing to people trying to watch their spending.
Online Celebrities call the shots. Social media has opened people’s eyes to the beauty of mixing and matching to create outfits with the click of a button. In the past people looked at ads and magazines and often wore their favorite brands from head to toe. That just isn’t the case anymore. People mix clothing from various styles, designers, and price points. Many social media influencers are less “upscale brand loyalty”.
Thrift shops and used clothing are “in”. There was a time that resale shops were reserved for people “in need”. These days individuals from all walks of life are refusing to pay “new with tags” prices. Millenials are more drawn to resale shops than prior generations and also have the option of online thrift and consignment stores like ThredUP.
Self proclaimed uniforms are cool. Steve Jobs’s black turtleneck, and Mark Zuckerberg’s gray t-shirt and jeans combo make clear statements that clothes don’t make you successful. While self proclaimed uniforms are still rare, the idea behind them affects people’s desire to have a new outfit to show off each day.
So what can we learn from these trends? How does this impact one’s mission of living deliberately? How can simplifying your wardrobe simplify your life?
EnlightenMENTE’s Commit to Thrive program is a six phase program that helps people live a more intentional life. Decluttering physical possession to make more space to attract the life one intends is part of the program.
