Fashion spending accelerates, price still important: EPAM Continuum

Fashion

Fashion spending accelerates, price still important: EPAM Continuum

05 Jul `22

3 min read

Fashion spending has accelerated, particularly in the United States, where half of the consumers are spending more than earlier, according to an 18-month, four-stage survey by Boston-based US consulting and design firm EPAM Continuum. Price is still important for fashion—46 per cent of consumers cited it as the top factor—but no compromise on style and quality is acceptable.

Overall, the most important factor when purchasing a fashion item was price (46 per cent), followed by the item’s fit (27 per cent) and style (26 per cent).

Slightly more than half of consumers spent money on fashion at least once a month, with almost one in ten spending at least once a week.

Close to two-fifths of consumers surveyed said they were spending more on fashion than they were three months ago, rising as high as 50 per cent for US consumers and registering fewer (29 per cent) UK consumers.

Eighty-three per cent of respondents said they were comfortable with going to a shopping mall, a fact which likely contributed to the increasing spend, EPAM Continuum said in a research report titled ‘Consumers Unmasked’.

The level of comfort in returning to stores and malls also appears to be shaping hybrid shopping attitudes.  

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