"Denim, world’s most popular everyday wear apparel category is likely to continue its growth story in 2016 amidst rising competition from athleisure and other bottom wear categories. A recent Lifestyle Monitor Survey reveals although active bottoms especially ‘yoga pants’ remains the most popular apparel for hanging out at home with 31 per cent usage share , but jeans are the most preferred for running errands (50 per cent), work (32 per cent) and dinner (31 per cent)."
Denim, world’s most popular everyday wear apparel category is likely to continue its growth story in 2016 amidst rising competition from athleisure and other bottom wear categories. A recent Lifestyle Monitor Survey reveals although active bottoms especially ‘yoga pants’ remains the most popular apparel for hanging out at home with 31 per cent usage share , but jeans are the most preferred for running errands (50 per cent), work (32 per cent) and dinner (31 per cent). In spite of the rising popularity of ‘athleisure’ in the US market, jeans continues to be the most available apparel item in fashion retail. In fact, it remains popular among American millennials and Gen-X compared to baby boomers when going out to dinner (35 per cent versus 21 per cent).
Denim sales rise in US despite active wear
Euromonitor apparel and footwear analyst Bernadette Kissane believes the rise of athleisure and the yoga pants has impacted growth in some markets but the denim category remains strong. Going forward, jeans are expected to return to growth with a global CAGR (compound annual growth rate) of 3 per cent to 2020. As the athleisure trend matures, consumers are likely to begin investing in jeans once more. Global denim jeans market was estimated at $58 billion in 2014, according to Technavio, a leading research and advisory company. However, the impact of athleisure has been evident on denim sales as a NPD Group’s survey reveals more than 518 million pairs of men’s and women’s jeans were sold in the US in 2015 but sales in the US were $13.1 billion last year, down 2 per cent compared to the previous year. But at the same time decline is slowing down in compared to the 4 per cent decrease in 2014.
South America, Asian markets on the rise
During the last decade the denim market has grown globally due to its increasing affinity in the emerging markets. As per Cotton Council International (CCI) and Cotton Incorporated’s 2016 Global Lifestyle Monitor Survey, affinity for denim is highest in Colombia at 79 per cent, in Mexico and Europe its 70 per cent, and lowest in India at 34 per cent). And Kissane points out even though athleisure has had an adverse impact on jeans market in the US, in other markets the full force of the trend is less severe.
Across the globe, jeans continue to be a wardrobe staple. Apart from markets like Columbia, Mexico, China has become the second largest market valued at $12 billion in 2015, Kissane says. However, unique fabrications or embellished designs for a dressy look of denim or deep colour dying can result in increased acceptance of denim in Asian markets. There is also an inclination for cotton rich denims in the global markets and a significant percentage of consumers in Colombia (67 per cent), the US (62 per cent), India (61 per cent), Europe (58 per cent) and China (58 per cent) are willing to pay more for cotton rich denims. While both China and the US continue to account for the majority of growth, emerging markets such as Asia-Pacific nations like India and Indonesia, as well as Saudi Arabia, are also picking up pace in jeans market.
And as Kissane explains denim will continue to grow as it is primarily driven by the middle class consumers with rising aspirations fuelling growth in super premium and premium sub-categories. While latest runway trends show a prominence of denim on the global arena as fashion designers and premium fashion labels like Grier Co, Michael Kors showcased denim in Fall/Winter 2016 New York Fashion Week, brands such as H&M and Zara has been aggressively expanding into Asia Pacific emerging markets.
