MMGNET is part of the Informa Markets Division of Informa PLC
This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Informa
Informa
HOW TECHNOLOGY AND TIMELESSNESS ARE SHAPING THE WOMEN'S ADVANCED CONTEMPORARY MARKET
Though there’s no crystal ball to see the future, our recently released 2024 US Fashion Consumer Outlook report offers direct data and insight into the shifting trends influencing what the retail market will look like in the months ahead. As 2024 continues, consumer trends in the contemporary and advanced contemporary spaces are cautiously optimistic — customers are price-aware and thoughtful in their purchasing, but they’re still looking to make investments.
As consumers approach their shopping strategically, brands, retailers, and marketers will leverage storytelling and emotional connection to build capital with customers. It’s crucial for emerging businesses and major players alike to embrace the consumer desire for high-quality products with a versatile, practical orientation. Comfortable, easy to wear pieces will reign supreme, whether it be a great pair of jeans or sneakers for easy walking. Ahead, learn more about the biggest trends to keep an eye out for the advanced contemporary women’s market.
Quiet Luxury’s Popularity Continues
As many shoppers navigate hybrid work schedules, day-to-night dressing, and busy lifestyles, it’s important that pieces can be dressed up or down with ease. For shoppers in the high contemporary sectors, quiet luxury’s overall versatility remains key in shaping purchases. 70% of surveyed brands — and 59% of retailers — say they expect quiet luxury to increase as a percentage of total industry sales in 2024. As prices of products are expected to continue rising, it’s crucial to build emotional connections with potential customers, growing relationships and helping to motivate customers to make new purchases.
As quiet luxury is focused on understated elegance, consumers will seek out high-quality timeless designs, forgoing overly trendy items. “As folks return to work, they are retiring some of the maximalist shoe designs and looking for versatility and luxury, with an emphasis on highly crafted materials” says Joey Zwillinger, former CEO and Co-Founder of Allbirds. Tops, jeans, sneakers, and boots ranking among the top intended purchase categories, as women continue to build out their wardrobe of everyday essentials.
Shopping For Value
62% of US consumers surveyed report value for money as the most important factor when making a purchase, so for more expensive items, they will be looking for quality, versatility, and connection to qualify their purchases. Rather than seeking the most affordable option, for the contemporary and advanced contemporary markets, value will be defined by a demand for quality and experience to match price. For marketers, this indicates a strong growth opportunity in building brand capital to convey value.
Classics On The Rise
Building on this progression, consumers have a renewed interest in purchasing casual staples like jeans and sneakers. With 35% of consumers planning to spend more on apparel in 2024 versus 2023, tops, jeans, and underwear ranked among the top desired purchases. Everyday sneakers are top intended footwear purchase of the year across all age groups, and long-term value accessories, including sunglasses, socks and investment jewelry rank most popular among shoppers.
“I think we’re seeing continued casualization [as evidenced] through sweatpants,”says Chris Worthington, Managing Director, Marketing & E-Commerce at Urban Outfitters.“We’re also seeing athletics shoes as the anchor of an outfit, regardless of whatever style you classify as yours.”
As casual styling remains dominant, for those in the industry focused on the advanced contemporary markets, luxe materials, and strong positioning will help to set them apart.
The Power Of Tech & In-Person
Despite the ease of online shopping, in-person experiences remain dominant, with 60% of sales being conducted in physical stores in 2024. By 2028, online is expected to increase by 3%, a slow growth that will ensure the continued dominance of in-person shopping. Though Gen-Z over indexes in interest around tech enhancements like virtual fitting rooms and VR stores for online shopping, in general interest remains below 30% because of inability to explore fit and product quality in person. 29% of consumers also report that browsing retailers in person is their top source of inspiration for what to buy, so curating a thoughtful, creative space can help to draw interest from customers looking to purchase holistically across categories.
Trending Towards Timeless
Overall, the months ahead will see the advanced contemporary market continuing to attract women across generations, generally seeking high-quality items whose wearability helps to justify price. Though you can expect to see some small shifts in categories, overall, anticipate interest to continue to grow in smart-casual clothing, comfortable yet stylish footwear, and timeless accessories.
For more insights into consumer intent for 2024, download the full report.
RELATED CONTENT
Copyright © 2024. All rights reserved. Informa Markets, a trading division of Informa PLC.