Join | Print Page | Contact Us | Sign In
News & Press: Industry

Personal Consumer Expenditures: Americans Are Ditching Duds for Devices

Monday, February 12, 2018   (0 Comments)
Posted by: Alyce Ryan
Share |

Written by: Lindsey Rupp, Chloe Whiteaker, Matt Townsend and Kim Bhasin February 5, 2018

In 1977, clothing accounted for 6.2% of U.S. household purchases. By 2016, it was 3.1%. What gives? In recent years, tech gadgets have captured Americans’ imaginations, along with their wallets. (See Bloomberg’s chart below.) And a growing share of employers don’t require workers to get gussied up any more, reducing the need for multiple wardrobes. Read Full Article