TOP CATEGORIES

Within clothing, tops (64%) and jeans (48%) are the most in-demand to purchase among 18-24 women, closely followed by outerwear (31%), and athleisure & workout clothing (30%). 18-24 men indicated that tops (44%), bottoms (excluding jeans - 30%), and outerwear (28%) are the top three most in-demand apparel items for 2024.

68% of women ages 18-24 plan to buy everyday sneakers, while 38% plan to buy performance sneakers, reflecting a surge in demand for sports-focused pieces for both exercise and everyday wear. This same trend was also seen in men ages 18-24, with 46% of men indicating interest in everyday sneakers and 32% indicating preference in purchasing performance sneakers.

Despite an overall predicted decrease in spending on jewelry and watches in 2024, these categories will remain popular among younger consumers, with 34% of women ages 18-24 indicating interest in purchasing jewelry and 30% of men ages 18-24 interested in watches. Meanwhile, classic staples, such as handbags (48%) and socks and tights (47%) are the top intended accessory purchases for women 18-24, and socks (33%) and belts (30%) are top accessories for men 18-24.

Fashion as Experiential and Fun

The path to selling products is no longer linear. While 47% of respondents shared the majority of their purchases are need-based (i.e. requiring a functional replacement for an existing product), young people are more motivated by the gamification of it all. “For Gen-Z, shopping is the number one form of entertainment,” says Ana Andjelic, Chief Brand Officer at ESPRIT, who notes brands now need to compete with other attention-grabbing modes like TV and video games.

With 18-34-year-olds showing the greatest intent to spend more YoY (an average 36% increase), shopping now needs to be an experience that’s as enjoyable as watching a favorite show. Brands should look towards new modalities to create social currency and increase the fun factor; ways this has been, and will continue to be, explored is through digital collaborations on popular immersive platforms like Roblox and releasing limited-edition drops that cause frenzy and long lines - and go viral.

Take it Offline

Despite the continued focus on e-commerce, brick-and-mortar still stands on top. “Physical retail is very important for the future,” says Linda Ashman, EVP (Americas) at sportswear company Bogner. “We’re seeing more people wanting to come in and be in discovery mode [in-store]." 29% of respondents said browsing in person is their top source of style inspiration, a clear driver for an increase in pop-ups in second-tier cities, activations at big events, and more permanent presences for direct-to-consumer brands.

While consumers said they would not be influenced to shop somewhere based solely on improved tech enhancements, certain behind-the-scenes investments could improve IRL concerns over available sizing and product variety. Personalized design features - like the ability to customize a piece based on color or material, virtual fitting rooms, and AR mirrors (see: Coach and Tommy Hilfiger’s collaborations with Zero10) and AI product recommendations were most appealing to those aged 18-34. Least enticing were brand-owned shopping apps, which could be attributed to market oversaturation, and shoppable social media pages, despite recent commerce pushes from platforms like TikTok and Pinterest.

Price-conscious millennials and Gen-Z shoppers are always on the hunt for the next trend; they are consistently influenced to purchase by what they see on social media, they care about what’s popular, and they want a diverse offering where they can buy everything they want or need in one place - which is a lot for brands to keep up with. However, strategic investments, in both technology and product development, and community-driven initiatives - from rewards and incentives to exclusive access and discounts - won’t just motivate shoppers, it will build a lasting relationship and trust with a brand that will set them up for success for years to come. 

Download the full report to learn more about the major shifts that will define the US fashion and retail market and key ways to connect with and understand your customer in 2024 and beyond.