The new norm of working from home and staying indoors to reduce the number of social situations in the wake of the pandemic have led to formal menswear subcategories such as coats, jackets and suits suffering the hardest hit in terms of retail sales. Combined with the trend of increasing casualisation of menswear styles, local tailors will continue to suffer given their restricted capabilities to operate online as they are primarily brick-and-mortar businesses.
According to Singstat’s Retail Sales Index, retail sales of wearing apparel and footwear fell by 89% and 63% year on year, respectively, in the months of May and June 2020, during the period of the “circuit breaker” lockdown. This can be attributed to the closure of non-essential businesses and services, including menswear retailers.
With physical retail businesses being affected by reduced store traffic, many store-based menswear retailers have turned towards online channels. In April 2020, Enterprise Singapore launched an Ecommerce Booster Package to help brick-and-mortar retailers diversify and target new consumers, by partnering with online marketplaces such as Lazada and Shopee to support eligible local retailers.
Menswear brands have started to plan strategies focused on omnichannel retailing given the weak recovery signs for physical retail, resulting in the need to establish a seamless consumer journey on both offline and online channels. Since most players have yet to jump on the bandwagon, first-movers will seek to gain early advantage.
The onset of the pandemic also led to menswear players ramping up their digital engagement efforts, aside from utilising online channels as an alternative source of revenue. A popular choice of digital engagement strategy among menswear players includes organising virtual fashion shows.
Home seclusion and staying indoors as a result of the pandemic have accelerated the athleisure and casualisation trends among menswear. Products with comfort as their main positioning are more positively received, as the line between fashion and comfort blurs.
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Understand the latest market trends and future growth opportunities for the Menswear industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Menswear research and analysis database.
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