2009.05.01
Jeans: A measure of the economy's strength?
Is denim an economic indicator? The NPD Group, a New York market research firm, believes that a rise in sales of jeans may signal a turnaround in consumer spending.
The NPD Group reports that sales of premium jeans, which are priced at $100 and higher, increased 17 percent in 2008 from 2007. And sales still are growing. For the most recently reported three-month time period, which is December 2008 through February 2009, sales for the total jeans category rose 2.3 percent, according to the group.
At the same time, total apparel sales declined 6.3 percent.
"That is the time period that was the most challenging in terms of consumer spending, so any growth during that time is significant," said Marshal Cohen, chief industry analyst for the NPD Group, in a news release. "With the new-found focus on fit by some of the commodity brands coupled with women's never ending quest for the perfect pair of jeans, the passion for denim is alive and well."
According to this news article, denim has been a leading indicator in past recessions.
Have you bought a new pair of jeans lately? And why do you think jean sales appear to be withstanding the economic downturn?
The fact that sales increased in 2008 suggests to me that it's *not* an indicator of the direction the economy is heading. More likely it's just a continuation of the slow spread of designer-jean fashion from NY/LA into the rest of the country.
Places like Roanoke are far behind the curve on this trend, and some people are just now waking up to the change from baggy Levi's to "whiskered" designer denim. The marketing genius here is that there's no way to make old jeans work with the new look; you just have to replace them all.
I predict that sales will finally tank once everyone in the country has been convinced to replace their current jeans wardrobe with designer brands. At $100+ a pop, people aren't going to be too quick to replace those designer jeans once they have them.
Comment by Mark — May 1, 2009 @ 9:34 am
Or is it "As long as I'm going to spend the money, I might as well get something worth having" !!!
Now to look for the carry over into other areas, instead of purchasing cheap junk for the instant gratification, spend a little more, and get something worth having?!?!
Comment by Steve — May 1, 2009 @ 10:49 am
The last time I bought jeans was a shade over 2 years ago, at Wal-Mart. I got 2 very comfortable pairs of Levi's for about $25 a pair, and I still wear them to this day. I may have to replace them before the end of the year though, the cuffs on the legs are getting torn and ragged from where they caught on my work boots, but I've got plenty more miles to wear them through first. When I need new ones, I'll be going back down the street to Wal-Mart. I need practical, low-cost jeans i can work in. This designer stuff never appealed to me. Give me function over form any day, except in my garden. Then I'll take form over function for the aesthetic value.
Comment by Other John — May 1, 2009 @ 2:06 pm
I'd rather go to a thrift store. I've found that women love to buy expensive jeans. They don't care the price. -FrazierHughes.com TV&Voiceovers
Comment by Frazier Hughes — May 2, 2009 @ 7:45 am
wow, frazier. i've found that women love it when you make sweeping generalizations about them, especially ones that imply frivolity.
Comment by seth — May 4, 2009 @ 5:54 am
Jean sales are higher in the overall market because of economics, and logic. The high-priced niche market doesn't 'speak' volumes, due to the miniscule market.
Comment by Gene Middleton — May 4, 2009 @ 5:47 pm
Frazier,
I do care about the price, and I'm sure I can't be the only woman out there who refuses to pay 100.00 or more for blue jeans. They may very well fit better, but I just won't pay that amount.
Comment by Debbie — May 5, 2009 @ 11:51 am
The most I have ever paid for jeans was $75 for a pair from Nordstrom in 2006. I still have them. I probably would not pay more because I could not justify it. I regularly buy jeans from the Gap, which cost $50 or more, but I know they fit well and I'll have them for years. That's true for my dress pants as well. I think most women will stick with a particular brand of jeans once they find one that they know fits and flatters. At least, I know that's true of my girlfriends and I.
I don't think men really understand how hard it is for a woman to find pants that fit well. My husband can grab a pair off the rack and they'll fit great. I however, have to try on 10 pair and MAYBE one will be just right.
Comment by Lori — May 7, 2009 @ 12:03 pm