With tempered growth in the overall apparel market, some segments such as plus-size clothing and activewear are experiencing gains that are offering retailers long-awaited business opportunities.
Women’s clothing has always been strategically important to retailers – making up about 60% of the total market – and is benefitting from the growth in its subsegments like the ones above.
The women’s clothing market grew 4% in 2013 with total sales reaching $116.4 billion and is forecasted to have a continued 5% growth rate over the next 5 years.
Just as we’ve seen with men, women have also taken an increased interest in their appearance and are more in tune with the latest fashion trends.
This, in turn, is driving an increased demand among women for stylish, on trend clothing.
So where across the country are the most lucrative areas for women’s apparel spending?
Based on the average annual household expenditure on women’s clothing, we’ve compiled a list of the top 5 U.S. metro areas for spending on women’s apparel.*
The top 5 metro areas ranked by average annual household spending on women’s apparel in 2013 are:
- San Jose-Sunnyvale-Santa Clara, California - Average Household Spending: $769.51per year
- Anchorage, Alaska - Average Household Spending: $754.87 per year
- Minneapolis-St. Paul-Bloomington, MN-WI - Average Household Spending: $752.48 per year
- San Francisco-Oakland-Fremont, California - Average Household Spending: $749.19 per year
- Washington-Arlington-Alexandria, DC-VA-MD-WV - Average Household Spending: $742.34 per year
*Metro areas are based on core based statistical areas (CBSA), which is a U.S. geographic area based around an urban center of at least 10,000 people.
Women’s wear is and will continue to be a significant part of the apparel market, so catering to your female shoppers can provide you with a competitive edge.
But, the first priority is really understanding who your female customers are, what they want, and where they are located.
By utilizing Buxton’s customer analytic solutions, we can help you answer those fundamental questions, as well as help you evaluate new markets and trade areas so you can eliminate any guess-work in your decision making, while helping you grow in the right way.
To learn more about how customer analytics and Buxton’s solutions can help you in your expansion efforts, download our latest report “The Pocket Guide to the Apparel Industry” or reach out to us. We can help.