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Both men, women to increase fashion expenditure in Europe: IFM study

  

A study conducted by the French Fashion Institute (IFM) found that despite the pandemic and a climate of global uncertainty 13.7 per cent of women and 17.1 per cent of men in Europe plan to increase their spending on fashion.

The study was conducted on 5,000 consumers in France, Germany, Italy and UK to understand their consumption outlook for the second half of 2020. It revealed 64.1 per cent of Europeans want to buy items made from eco-responsible materials and 30.1 per cent are even willing to spend more for them.

Further the study finds, majority of consumers will continue to pay close attention to labels. In Europe, 60 per cent will look to see where an item was manufactured, and 58.5 per cent will favor local manufacturing. Among 18-34 year olds, 33.1 per cent are even willing to boycott certain products made abroad.

The report concluded that though in the short-term, consumers favor a more thoughtful consumption, they remain attached to their fashion purchases. The outlook may even turn out to be positive once confidence is restored.

 
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