Just as you wouldn’t want to sell raincoats in the desert, it’s pretty rough to sell pants during a lockdown.
While retailers of all sorts have struggled since the pandemic has curbed shopping and crimped incomes, no part of the retail sector has suffered as much as the people who sell clothes.
Retail sales in November fell 1.1% compared to October, Commerce Department figures showed. The public spent 1.7% less on cars in November, 3.5% less on appliances and electronics, and as outdoor dining got dicier and cities ramped up lockdowns, bars and restaurants saw business drop by 4%. But clothiers shed a whopping 6.8% in sales.
It turns out that when people don’t leave the house, they don’t really have much need for clothes. No need to replace your old khakis, even if you’ve worn out the seat of your pants, if you’re never going into the office. Your cocktail dress collection doesn’t need refreshing if nobody has seen you in a year. And even if your pajamas are wearing a bit thin, it’s fine since nobody’s going to see them on Zoom.
Good news for your clothing budget is bad news for your clothing stores and brands.
Levi’s, which owns Dockers, saw revenue fall 27% in the most recent quarter. Lord & Taylor announced in August that it was shutting down for good. American Eagle, Abercrombie & Fitch, Gap Inc., Banana Republic, and many other clothes sellers announced over the summer that they were closing dozens or hundreds of stores.
Gap’s best performer? Athleta, the maker of “athleisure.”
“Athleisure” is a euphemism deployed to justify wearing clothes in all public places that are more fitting for a gym or for home. That is, some people are buying more exercise clothes, but mostly women are spending their days in leggings.
Lululemon, which successfully convinced women that they could wear yoga pants outside of yoga class, reported in its latest quarterly earnings, “Total net revenue increased 22% to $1.1 billion … partially due to a shift in the way guests are shopping due to COVID-19.”
That is, even when people are buying new clothes, they’re still not putting on pants.
