The ‘Retail Apocalypse’ Is An Apparel Apocalypse

by MR Magazine Staff

Ralph Lauren once said, “I don’t design clothes, I design dreams,” according to GQ magazine. But at retail, clothes have become the stuff of nightmares. “According to the U.S. Bureau of Labor Statistics, from 1977 U.S. Households spent 6.2% on apparel and in 2017 that declined to 3.1% spending on apparel in U.S. Households,” Shawn Grain Carter, professor of fashion business management at the Fashion Institute of Technology, told Retail Dive in an email. “That is a 50% drop over four decades.” And it’s taking a toll. Read more at Retail Dive.