What Q2 Says About Apparel
Sep 01, 2020
Clothing sales, already facing headwinds as consumers devote less of their budgets to it, have been decimated by the pandemic, dragging down retail for the last few months. As second-quarter earnings reports trickle in, some bright spots are emerging, however. After avoiding apparel purchases for weeks, consumers are buying again. About 29 percent to 30 percent of consumers have bought clothing recently, almost double the mid-teens percentage in April recorded by William Blair analysts for their weekly consumer survey. Consumers ages 18 to 29 and those in the Northeast (where the pandemic is most under control at the moment), were most likely to have bought clothes, at 35% each, according to the report. Read more at Retail Dive.
