Retail volume sales of menswear suffered a calamitous decline during the COVID-19 pandemic in 2020, with all areas registering steep double-digit falls. Larger product areas such as men’s tops and underwear all dragged actual sales down, while many men opted not to purchase suits and shirts as they avoided going into the office and worked from home, which was encouraged by the government.
The new norms of social distancing and virtual working led to severe declines in the number of business occasions and events during the COVID-19 health crisis, leading to steep falls in demand for formal wear. Suits, shirts and bespoke tailoring took the hardest hits in 2020, as many consumers, when they did purchase menswear, opted for more casual and comfortable choices during their long periods of home seclusion.
With demand for menswear among domestic consumers weakened due to the weaker economic prospects as a direct result of the health crisis, value for money was an increasing concern among many male consumers, who traditionally place functionality above fashion to a greater extent than female counterparts in Hong Kong, China. Strong attention to quality and durability in menswear is often more appealing to male consumers who actively seek value for money.
Menswear is set to bounce back to significant constant 2020 retail value growth rates in 2021, followed by ongoing strong growth over the remainder of the forecast period. Many men are set to treat themselves to the latest fashions in super premium men’s jeans after the rigours of the pandemic, which also emphasises the ongoing importance of the casual trend in men’s fashion.
E-commerce more than doubled its share in sales of apparel and was the only channel to record growth in 2020. Hong Kongers clearly valued the convenience and contactless online shopping model during the COVID-19 pandemic, whilst many online retailers made it easier to ensure customers chose the correct size by introducing AI-driven sizing capabilities to their websites, as well as making returns and exchanges easier.
Even so, for many fashion brands, such as Uniqlo, Zara and others, the focus is likely to be on building their own flagship online stores with AI-driven size recommendation capabilities and exclusive logistics services for e-commerce apparel purchases. The consistency and synergy between the online and offline shopping experiences remain key to breeding customer loyalty.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Menswear industry in Hong Kong, China 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 Hong Kong, China, 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.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page