The Importance of Versatility and Value 

In many ways, shoppers crave a sense of simplicity that can translate to every area of their lives and pieces that will make an impact for years to come. For example, casual sportswear is still in high demand as many consumers continue to lead lifestyles impacted by hybrid work arrangements and remote work. They’re also interested in timeless statement pieces.

The 2024 US Fashion Consumer Outlook report uncovered consumers’ highest priorities — price points and value. 63% of US consumers choose fashion brands based on their perception of how much value they’ll receive in exchange for the money they spend. This creates lucrative opportunities for brands and retailers leaning into strong brand equity and high-quality products. Brands can leverage quality craftsmanship to increase the perceived value of their goods, while using storytelling to form emotional connections with consumers. It’s a great opportunity for retailers and brands to deliver quality fashion that feels like money well spent.

Casual shoes are presenting plenty of opportunities for retailers and brands. Women of all ages still love sneakers, with a significant emphasis on everyday sneakers, vs. performance sneaker styles. 68% of women 18-24 intend to purchase new everyday sneakers in 2024, while 53% of women 55 years of age and older intend to do the same. However, sneakers are no longer the entire story — other casual shoe styles have started to garner serious attention. 41% of respondents in the 45-54 age bracket intend to shop for sandals, espadrilles, or flip-flops, while 54% of the women in the 25-34 age range intend to purchase new everyday boots. 

“The work-from-home era, which played a major role in our consumer’s life, has fueled a more relaxed and casual way of dressing. Now, as folks return to work, they are retiring some of the maximalist shoe designs and looking for versatility and quiet luxury, with an emphasis on highly crafted materials.”

 — Joey Zwillinger, Former CEO and Co-Founder of Allbirds

Getting Down to Business — Fitness to Formalwear

Consumers have a high interest in technical features and performance features in apparel and footwear — even outside of fitness activities and sports. Research also uncovered continued, strong interest in athleisure and workout clothing, with the highest interest found across 18-34-year-old women (~32%).

As 18-24-year-old women jumpstart their careers and attend related, formal events, the report indicated a high demand for formalwear (28%) for this demographic; appearing within the top 6 in intended apparel purchases in 2024. 

These young consumers also indicated a preference to shop in advance of special occasions (~40%), for sales or major discounts (35%), OR to secure coveted, limited-edition items while they’re still in stock (~20%). Therefore, brands and retailers would do well to continue delivering (or start) engaging limited-edition products/collections or consider flash sales at key times throughout the year to drive sales and reignite interest in stalled inventory. 

Young Consumers Love Tech 

Retailers could gain a competitive advantage in 2024 by incorporating the right technology in brick-and-mortar and e-commerce environments. Younger shoppers appreciate exciting extras. 18-24 year old respondents gravitate towards personalized design features where they may choose their own color palettes and materials (nearly 30% of respondents in the cohort), as well as virtual fitting rooms and interactive in-store mirrors (more than 25%). What’s more, nearly 25% of 25-34 year old shoppers value AI product recommendations that reflect a true understanding of their tastes. 

“For Gen Z, shopping is the number one form of entertainment. More than video games, more than watching TV, shopping is their entertainment. So we have to ask, how do we be as entertaining as possible, to fit into the competitive set of everything else that’s entertaining?"

— Ana Andjelic, Chief Brand Officer at ESPRIT