Is the US clothing market rebounding?

Antoshak stated that there are currently several signs indicating economic recovery:

One reason is the increase in imports. After the economic slowdown caused by the pandemic, US clothing imports have once again risen, and Vietnam has surpassed China to become the largest clothing supplier to the United States, ranking among the top three fastest-growing textile and clothing exporting countries in the world. According to statistics from Vietnam Textile and Clothing Group, Vietnam's clothing exports to the United States reached 6 billion US dollars in the first five months of 2024, a year-on-year increase of 4%, indicating a renewed rise in demand for clothing in the United States;

Secondly, the inventory level has stabilized. Due to the successful management of inventory by retailers, excess inventory is beginning to decrease. The healthy inventory to sales ratio further confirms this and has returned to pre pandemic levels;

Thirdly, consumer spending has increased. Clothing sales have increased, and the inventory to sales ratio has returned to pre pandemic levels.

Antoshak said that although these situations are positive, there are still several lingering issues. One of the main issues is that consumer preferences have changed. The data shows that when sales increase, product categories and combinations change, and procurement tends towards casual wear.

In addition, there are several external factors that can significantly affect the development trajectory of the market, including inflationary pressures. Although the increase in clothing prices has been moderate, overall inflation is worrying. Consumer sentiment and confidence have slightly declined after a period of time. In recent months, the growth of consumer disposable income has slowed down. In addition, the aging population in the United States may affect the demand for clothing.