A report by CottonInc brings out the latest facts and trends in the jeans consumption in the US. It corroborates our previous report that the consumption and imports of Jeans in the US in 2008 was about 5% more than that in 2007.
Here are some interesting facts from the report:
a) US consumers:Own about 15 denim garments each on an average.
Out of these are 7 pairs of jeans.
Of all apparel purchased , denim formed 17% ( remember ,denim is the highest selling
clothing item in the world.
Are buying more of denim especially now since denim is more value for money.
b)Brand loyalty: Brand loyalty is quite high across genders,income levels and age groups.
73% of the consumers preferred to buy the same brand of jeans they owned.
64% of men and 45% of women preferred the same brand of jeans for 6 years.
What is interesting to note is that brand loyalty has been generated due to product
features rather than brand name. 66% consumers listed fit as the most important factor
for buying a jeans rather than its name (1%)
c)Price sensitivity:Price senstivity is going to increase in the year 2009. Though only 9% respondents
mentioned price as the reason to buy a brand, over 26% mention price will be the most
imp factor in the next purchase. With the economy slowing down, we should not be
surprised if this figure increases further.
Average price that a consumers were willing to pay for a good fitting jeans fell down from
$36.10 in January 2008 to $ 32.13 in October 2008.
d) Denim Imports:Mexico , China and Bangladesh remained the top three exporters of jeans to US in
2008.They exported (till September 2009) the following million units of jeans : Mexico – 92.8 million units China – 55.6 million units Bangladesh – 39.1 million units Egypt – 23.4 million units Hongkong – 23.2 million units
Out of these, Bangaldesh had the lowest average price of jeans exported – $5.07 against
a world average export price of $ 7.45
Going by these figures and previous reports coming in regarding denim consumption in the US, we get the indications that the consumption of denim/jeans would perhaps not experience the serious fall in consumption as expected in other clothing (esp fashion products) items. The reason is clear – consumers want to invest in jeans as – it lasts longer, can be worn at wide variety of occasions, offers wide price ranges and remains its fashion appeal. Will we see the market share of some clothing items cannabalised by
Another lesson , oft repeated, for jeans producers is that FIT IS THE MOST IMPORTANT factor consumers . Identify your target consumers and give them the best fits possible.Though quality of denim, wash, brand name all are important, they are secondary to THE FIT ..