Americans began to buy half the clothes
The cost of US residents to purchase clothes and shoes has declined over the past 40 years, according to Bloomberg.
If in 1977 the average American family spent for this purpose 6.2 percent of the annual budget, now the share is only 3.1 percent. Analysts attribute this to a change in the norms of office etiquette. If in the past most workers had to have at least two sets of clothes - a strict suit for office work and clothes for free time, today more and more employers are allowed to come to work in jeans, sweaters and other similar things. According to the Human Resources Management Society, the world's largest association of HR specialists, in 2017, almost half of American employers allow employees to wear casual clothes in the office.
As analysts point out, the decrease in Americans' interest in buying clothes leads to a decrease in sales in both small and large retailers, and, as a result, the closure of stores. Another consequence of the decline in demand for business clothes is the closure of dry cleaners: by 2022, analysts predict a decrease in their number by 20 percent.
At the same time, experts note the continued growth in demand for high-tech products. Since 2010, US residents spend more on gadgets than on clothes and shoes.