The Death of Clothing(ˈklōT͟HiNG)

The Death of Clothing(ˈklōT͟HiNG)

By Lindsey Rupp, Chloe Whiteaker, Matt Townsend and Kim Bhasin

The apparel(əˈparəl) industry has a big problem. At a time when the economy is growing, unemployment is low, wages(wāj) are rebounding and consumers are eager(ˈēgər) to buy, Americans are spending less and less on clothing.

The woes(wō) of retailers are often blamed(blāmd) on Amazon.com Inc. and its vise(vīs) grip on e-commerce(ˈkämərs) shoppers. Consumers glued(glo͞o) to their phones would rather browse(brouz) online instead of venturing(ˈvenCHər) out to their local malls, and that’s crushed(krəSH) sales and hastened(ˈhāsən) the bankruptcies(-rəp(t)sē,ˈbaNGkˌrəp(t)sē) of brick-and-mortar(ˈmôrtər) stalwarts(ˈstôlwərt) from American Apparel to Wet(wet) Seal(sēl).

But that’s not the whole story. The apparel industry seems to have no solution to the dwindling(ˈdwindl) dollars Americans devote(diˈvōt) to their closets(ˈkläzit). Many upstarts promising(ˈpräməsiNG) to revolutionize(ˌrevəˈlo͞oSHəˌnīz) the industry drift(drift) away with barely(ˈbe(ə)rlē) a whimper(ˈ(h)wimpər). Who needs fashion(ˈfaSHən) these days when you can express(ikˈspres) yourself through social media? Why buy that pricey(ˈprīsē) new dress when you could fund a weekend getaway instead?

Apparel has simply lost its appeal. And there doesn’t seem to be a savior(ˈsāvyər) in sight. As a result, more and more apparel companies—from big-name department stores to trendy(ˈtrendē) online startups—are folding(fōld).

The ingredients(iNG-,inˈgrēdēənt) for this demise(diˈmīz) have been brewing(bro͞o) for decades(ˈdekād). In 1977, clothing accounted(əˈkount) for 6.2 percent of U.S. household spending, according to government statistics(stəˈtistiks). Four decades(ˈdekād) later, it’s plummeted(ˈpləmit) to half that.

Apparel is being displaced by travel(ˈtravəl), eating out and activities—what’s routinely(ro͞oˈtēn) lumped(ləmp) together as “experiences”(ikˈspi(ə)rēəns)—which have grown to 18 percent of purchases(ˈpərCHəs). Technology alone, including data charges(CHärj) and media content, accounts for 3.4 percent of spending. That now tops all clothing and footwear(ˈfo͝otˌwer) expenditures(ikˈspendiCHər).

Several(ˈsev(ə)rəl) reasons are behind this shift. Some are beyond the control of apparel companies, as societal(səˈsīitl) changes drove(drōv) different shopping behavior. But missteps by these companies along the way have hastened(ˈhāsən) the death of clothing.

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https://www.bloomberg.com/graphics/2018-death-of-clothing/