The National Market Exchange - NMEX

June 2012

Fashion

Throughout history, fashion has greatly influenced the “fabric” of societies all over the world. What people wear often characterizes who they are and what they do for a living. As Mark Twain once wrote, “Clothes make the man. Naked people have little or no influence on society.”

The fashion industry is a global industry, where fashion designers, manufacturers, merchandisers, and retailers from all over the world collaborate to design, manufacture, and sell clothing, shoes, and accessories. The industry is characterized by short product life cycles, erratic consumer demand, an abundance of product variety, and complex supply chains.

In this Spotlight, we take a look at the fashion industry's supply chain—including import and producer prices, employment in the apparel manufacturing and fashion-related wholesale and retail trade industries, labor productivity in the manufacturing sector and in selected textile and apparel industries, and consumer prices and expenditures on apparel-related items.

How Much Do Consumers Spend on Apparel?

In 2010, households spent, on average, $1,700 (in nominal terms) on apparel, footwear, and related products and services—3.5 percent of average annual expenditures. Since 1985, as a percentage of total apparel expenditures, households spent more, on average, on apparel designed for women aged 16 and over than any other apparel product or service.

See the full report at: http://www.bls.gov/spotlight/2012/fashion/

PDF Report available at: http://www.bls.gov/spotlight/2012/fashion/pdf/fashion.pdf