As in other categories of apparel and footwear in 2020, sales of menswear were hit hard by the closure of department stores and retailers in shopping centres from March to May. In addition, many menswear retailers outside shopping centres closed voluntarily.
There was solid growth in e-commerce sales of menswear in 2020 as stores were closed and consumers attempted to limit their exposure to the virus. Technological developments and service-focused online stores continued to boost the appeal of the e-commerce channel, helping to make online shopping easy, convenient and inexpensive while also providing consumers with a wide range of options across different price points.
The competitive landscape in menswear continued to be shaken up in 2020 as small independent players found it increasingly difficult to compete with large players such as Bestseller and H&M. Commercial real estate prices in prime locations in Denmark have continued to increase, slowly pushing small players out of the country’s major cities as the fast fashion giants and other big companies take over prime inner-city locations.
All categories within menswear are expected to record solid retail value growth at constant 2020 prices in 2021. Men’s shorts, suits and swimwear, as three of the categories that saw the steepest declines in 2020, are set to make the sharpest rebound in 2021 before settling to moderate but steady value growth for the remainder of the forecast period.
After retail store closures and home seclusion accelerated the shift towards the e-commerce channel across all apparel and footwear categories in 2020, further but more moderate growth is expected in menswear e-commerce sales in 2021 and beyond. This reflects the fact that many consumers will resume their regular shopping habits of purchasing apparel in retail stores.
In terms of the lasting economic impact of the COVID-19 pandemic on both the hard-hit category of menswear and the wider apparel and footwear industry, Denmark has a strong social security system and the Danish government provided a number of support programmes for businesses to help them navigate the pandemic. As such, the enduring economic impact is likely to be less severe in Denmark than in many other countries, with only minimal effects in terms of increased unemployment and a decline in disposable incomes expected over the forecast period.
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Understand the latest market trends and future growth opportunities for the Menswear industry in Denmark 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 Menswear industry in Denmark, 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 Menswear research and analysis database.
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