The denim industry is proving its resiliency in a period of economic turmoil, but worsening conditions are challenging the premium end of the spectrum as price sensitivity among consumers grows.
Customers have continued to purchase denim as financial conditions have deteriorated, finding value in items they perceive to have a long life span that can be worn for a wide range of occasions. According to the November edition of Cotton Inc.’s Lifestyle Monitor, denim’s place as a consumer staple has only increased as a result. Cotton Inc.’s survey of about 1,000 people found that U.S. consumers own an average of 15 denim garments, seven of which are jeans. Consumers planning to make apparel purchases in the near future ranked buying denim second on their priority list, 37 percent of consumers said they had purchased jeans in the past month and 35 percent said they intended to buy jeans in the coming month.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"