Womenswear Market 2023 Presentation

Economic Concerns Challenge Spending

• After recording a satisfactory 4.8% YOY increase in total 2022 sales at “women’s clothing stores” (NAICS 44812), Q4 2022 sales increased only 0.08% YOY and decreased 5.7% YOY for the first half of 2023, according to the US Census Bureau.
• Although inflation has moderated significantly from its peak during summer 2022, “personal finances” are still the primary concern of consumers surveyed for the latest (8/17/23) Numerator Consumer Sentiment Study.
• Despite these surveyed consumers being the least concerned about “job security/unemployment” at 18%, apparel was third on a list of 11 product categories that 37% of consumers said they would be cutting their spending.

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