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.”