After seeing solid retail volume and current value growth rates during most of the forecast period, jeans turned to strong decline in 2020, due to COVID-19. The lockdown implemented to stop the spread of the virus in April and May led to the closure of non-essential retail outlets such as apparel and footwear specialist retailers and department stores, which was the main contributor to falling sales.
Although also seeing strong retail volume and current value declines in 2020, men’s jeans saw a slightly better performance than women’s jeans. Men’s jeans also accounted for higher volume and value sales.
Well-known brands such as Levi’s saw amongst the best performances in 2020, as many consumers already know their correct size and fit, and therefore felt comfortable shopping via e-commerce when store-based retailers were closed due to COVID-19. This helped Levi Strauss de Mexico extend its lead in jeans in Mexico in 2020.
The recovery in sales of jeans that started towards the end of 2020 is set to continue in 2021, with a strong return to growth in both retail volume and current value terms. Indeed, retail volume sales are expected to return to the 2019 pre-COVID-19 level in this year, although current value sales are not set to achieve this goal until the following year, due to continued discounting to try and encourage consumers to purchase.
Standard jeans and economy jeans are set to see the best performances in the forecast period. These price platforms saw the biggest declines in 2020, so are also expected to see the strongest rebounds.
Due to the closure of store-based retailers for many weeks in the first half of the year due to COVID-19, some consumers turned to e-commerce to shop for jeans. In addition, consumers continued to use this channel in the second half of the year due to continued fear of contracting the virus in busy shopping centres, as well as the convenience of this channel and the ability to search for the lowest prices.
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Understand the latest market trends and future growth opportunities for the Jeans industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Jeans industry in Mexico, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Jeans research and analysis database.
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